BRUSSELS (dpa-AFX) - ABN AMRO Bank N.V. (ABN.AS) on Wednesday reported higher first-quarter profit, supported by growth in net interest income and fee and commission income, along with lower operating expenses.
Profit before tax increased 13% to €942 million from €831 million a year earlier.
Operating result rose 21% to €1.009 billion from €836 million last year.
Operating expenses declined to €1.277 billion from €1.309 billion, driven by lower other expenses which declined 9% to €529 million.
Net profit attributable to owners of the parent company rose to €692 million or €0.78 per share compared with €619 million or €0.69 per share in the prior-year period.
Operating income was €2.287 billion, 7% up from €2.145 billion in the same period last year.
Net interest income rose 5% to €1.637 billion from €1.560 billion in the same period last year, and net fee and commission income increased 20% to €608 million from €507 million.
For the full year, the bank lowered its cost guidance to around €5.5 billion.
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