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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Abn Amro Holding N.V. | NYSE:ABN | NYSE | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.00 | - |
Kees van Dijkhuizen, CEO, comments:
'ABN AMRO had a good third quarter, with a net profit of EUR 725 million, an increase of 8% on Q3 2017. Net interest income was up 4% year-on-year on the back of a strong Dutch economy. Costs continued to benefit from cost-saving programmes and impairments were lower than in the first two quarters. We were pleased to see that we did well in the 2018 stress test for European banks.
We made good progress on our financial targets. The cost/income ratio over the first nine months was 55.3% and the return on equity (ROE) was 13.1%. Our capital position continued to strengthen and the CET1 ratio reached 18.6% in Q3 2018. Therefore, we have accrued 60% of the year-to-date net profit to create flexibility to raise our dividend pay-out ratio over 2018. We will make a final decision on the pay-out ratio when we have our full-year 2018 results, also taking into account the SREP requirements for 2019.
ABN AMRO was again named one of the world's best-performing banks in terms of sustainability, in RobecoSAM's annual sustainability review. This score underlines that our bank is successfully making a serious contribution to a sustainable society, and we can do more. To guide us through change, we have defined a clear purpose: Banking for better, for generations to come. And to continue creating lasting value for all our stakeholders, we have refreshed our strategy and will focus on three pillars: supporting our clients' transition to sustainability; reinventing the customer experience; and building a future-proof bank.
All in all, we are on track and continue to move forward in achieving our financial targets for 2020. We will present the refreshed strategic priorities for the years ahead as well as our focus areas such as IT, business outlook and capital position at our Investor Day on 16 November.'
Key figures and indicators (in EUR millions) | Q3 2018 | Q3 2017 | Change | Q2 2018 | Change | 9M 2018 | 9M 2017 | Change | ||
Operating income | 2,318 | 2,123 | 9% | 2,288 | 1% | 6,935 | 6,861 | 1% | ||
Operating expenses | 1,227 | 1,209 | 2% | 1,261 | -3% | 3,837 | 3,929 | -2% | ||
Operating result | 1,091 | 914 | 19% | 1,027 | 6% | 3,098 | 2,932 | 6% | ||
Impairment charges on financial instruments | 106 | 5 | 134 | -21% | 447 | -29 | ||||
Income tax expenses | 260 | 236 | 10% | 204 | 27% | 643 | 711 | -10% | ||
Profit/(loss) for the period | 725 | 673 | 8% | 688 | 5% | 2,009 | 2,249 | -11% | ||
Cost/income ratio | 52.9% | 56.9% | 55.1% | 55.3% | 57.3% | |||||
Return on average Equity1 | 14.4% | 13.8% | 13.5% | 13.1% | 15.7% | |||||
Fully-loaded CET1 ratio | 18.6% | 17.6% | 18.3% | 18.6% | 17.6% | |||||
1 Based on profit for the period attributable to the owners of the parent company. |
ABN AMRO Investor Relations
Dies Donker
hoofd Investor Relations
investorrelations@nl.abnamro.com
+31 20 6282282
ABN AMRO Press Office
Jarco de Swart
senior press officer
pressrelations@nl.abnamro.com
+31 20 6288900
This press release is published by ABN AMRO Group N.V. and contains inside information within the meaning of article 7 (1) to (4) of Regulation (EU) No 596/2014 (Market Abuse Regulation)
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