ABN Amro Profit Beats Expectations on Cost Control, Fee Income
ABN Amro Bank NV reported first-quarter profit that beat expectations, as cost control and higher fees helped the Dutch lender offset the effect of declining interest rates.
Profit at the Amsterdam-headquartered bank came in at €619 million ($693 million) for the three months through March, compared with the analyst estimate of €543 million in a Bloomberg survey. Operating expenses in the quarter rose 4%, while fee income grew 8%, both better than forecast.
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