ABN AMRO reports net profit of EUR 301 million in Q3 2020 (abn amro bank)

abn-amro-reports-net-profit-of-euro-30-million-in-Q3-2020-


Net profit at EUR 301 million in Q3 2020, reflecting good operational performance and moderating impairments

Strong digital backbone and dedication of employees ensures consistent services to our clients during(abn amro bank) Covid-19

Net interest income continues to be impacted by pressure on deposit margins and lower (abn amro bank) corporate loan volumes

On track to achieve a cost level of around EUR 5.1 billion for 2020, excluding provisions for the CIB review



Cost/income ratio for Q3 was 61.5%, return on equity 5.6%

Strong capital position, Basel III CET1 ratio of 17.2% and Basel IV CET1 of around 15%, provides resilience

Progressing on CIB non-core portfolio wind-down; outcome strategy review to be presented on 30 (abn amro bank) November


Key figures and indicators

 (in EUR millions) Q3 2020 Q3 2019 Change Q2 2020 Change 9M 2020 9M 2019 Change

Operating income 2,207 2,101 5% 1,985 11% 6,115 6,504

Operating expenses 1,357 1,247 9% 1,198 13% 3,856 3,884

Operating result 850 854 786 8% 2,260 2,620 -14%

Impairment charges on financial instruments 270 112 141% 703 -62%  

Income tax expenses 279 184 52% 88 275 547 -50%

Profit/(loss) for the period 301 558 -46% -5 -99 1,730  

   

Cost/income ratio 61.5% 59.4% 60.4% 63.0% 59.7%  

Return on average Equity1 5.6% 11.0% -0.7% -1.3%                                                                                                          

Fully-loaded CET1 ratio 17.2% 18.2% 17.3% 17.2% 18.2%  

1  Based on profit for the period attributable to the owners of the parent company