ABN Amro Profit Jumps as Acquisition, Interest Rates Lift Income

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ABN Amro made nearly a billion euros in profit last quarter. That is more than half as much as in the same period last year, according to figures for the third quarter. Key indicators for banks, such as return on investment and incurred costs, are all much better than a year earlier. It shows that CEO Marguerite Bérard, who has been in charge for about a year and a half now, is succeeding well in making the bank more profitable. At the same tim…

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ABN AMRO increased its profit by more than 50 percent last quarter. The bank mainly benefits from the rise in interest rates. In addition, CEO Marguerite Bérard notes that the Dutch economy remained “resilient”.

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Dutch major bank ABN Amro is raising its annual forecasts after rising interest rates and the acquisition of competitor NIBC gave the group a substantial boost in the third quarter.

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AMSTERDAM (ANP) - ABN AMRO increased its profit by more than 50 percent last quarter. The bank is benefiting primarily from rising interest rates. CEO Marguerite Bérard notes that the Dutch economy remained "resilient." The bottom line showed that, partly due to higher interest income...