ABN Amro posts ‘most profitable’ quarter

abn amro logoNationalised bank ABN Amro on Friday announced a second quarter net profit of €600m and an interim dividend to its shareholder, the Dutch government, of €350.

The bank, which is due to be partially floated later this year, saw its income from interest rise in the second quarter through increased mortgage refinancing and company loans.

Outgoings decreased and the servicing of bad loans was low at €34m, compared with €342m in the year earlier period, the bank said.

CEO Gerrit Zalm said in a statement: ‘This is the most profitable quarter since the new bank was formed in 2010.’

ABN Amro was nationalised in 2008 following its takeover by a consortium of other banks. The state hopes to earn €15bn from its sale, less than half the total bill for its rescue.



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