ABN AMRO reports EUR 607 million underlying net profit for Q3 2016, up 19% y-o-y.
- Underlying net profit for Q3 2016 of EUR 607 million, up 19% y-o-y, includes a restructuring charge of EUR 108 million (net of tax) and a EUR 52 million (net of tax) revaluation gain on our stake in Equens
- Underlying net profit for 9M 2016 was EUR 1,743 million, up EUR 91 million or 5% on 9M 2015
- Net interest income remained robust; fees and commissions were lower than in 2015; costs were contained; and loan impairments remained low
- Underlying ROE for Q3 2016 was 13.8% (9M 2016: 13.4%) and the underlying cost/income ratio was 61.8% (9M 2016: 61.8%)
- Fully-loaded CET1 ratio increased to 16.6% and the fully-loaded leverage ratio was 3.7%
- New cost savings plan of EUR 0.4 billion, affecting approximately another 1,500 FTEs
- Pre-tax restructuring charges of EUR 144 million in Q3 2016 and EUR 150-175 million expected in Q4 2016
To read the comment of Gerrit Zalm, Chairman of the Managing Board of ABN AMRO Group, or to download the Quarterly report, please visit the ABN AMRO corporate website.