ABN Amro Nederland profits slump

The units of ABN Amro bank now owned by the Dutch state booked net profit of €87m in the first three months of this year, compared with €226m in the same period in 2008.

The decline is due to a sharp increase in provisions and losses on business credit operations, news agency ANP reported on Monday.
The entire group as a whole booked a loss of €886m. Royal Bank of Scotland and Spanish bank Santander own the rest of the operation.
The definitive break up of the bank is due to be completed by the end of this year. The Dutch operations are being merged into Fortis Nederland, which has also been nationalised. Last week it emerged ABN Amro is in talks with the Dutch government on a new capital injection.

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