ABN AMRO Private Banking has recorded a 51% drop in first quarter profits year-on-year (YOY), due primarily to lower operating income and increased expenses, particularly on the personnel front. The Dutch lender’s global private banking profits for 2016Q1 plummeted €44 million, from €87million (US$99.1 million) in 2015Q1 to just €43 million (US$49 million). Similarly, operating income fell from €341 million…
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