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ABN AMRO Private Banking doubles profit

AMSTERDAM – Hoofdkantoor ABN-Amro aan de Zuidas. ANP PHOTO RICK NEDERSTIGT

ABN AMRO’s private banking arm saw its underlying profit nearly double to €54 million in Q3 (+92% YoY, +3% QoQ) on the back of €28 million drop in operating expenses and a slight yearly uptick in income (+1% YoY, -7% QoQ) to €317 million. The private bank also saw its cost/income ratio fall 9.7 percentage points YoY to 75.9%. Globally, client assets increased to…

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