ABN Amro's Net Profit Surpasses Expectations

Forex - ABN Amro Bank reported a decrease in its net profit for the third quarter; however, it exceeded market expectations due to continued benefit from the high-interest environment. The net profit for the third quarter was 690 million euros, compared to 759 million euros in the same period last year. Analysts had anticipated a profit of 528 million euros. The net interest income was 1.64 billion euros, compared to the consensus of 1.61 billion euros. In its statement, ABN Amro Bank mentioned that the planned capital assessment and share buyback would be postponed to the second quarter of next year due to the longer-than-expected preparation for the upcoming implementation of Basel IV banking reforms and the simplification of its business model.