thewealthnet     About Us    |    FAQs    |    Contact Us
 
  Search
 
     
  Advanced Search       RSS Feed  twitter  linkedin 
Welcome to thewealthnet    |   Europe, Middle East & Africa Get The App   |   Login
  Sat 17th Nov 2018  |    Make this my homepage  
Subscribe now!
Credit Cards Accepted
World Map
    
ABN Amro reports decrease in first half private banking profit
09/08/2018 , News Team

ABN Amro has reported a first half pre-tax profit for its private banking division of EUR 228 million, a year on year decrease of 29 percent.

For the second quarter alone, the division’s pre-tax profit was EUR 139 million, down by 45 percent compared with the same period the previous year.

Operating income also fell. For the first half this reached EUR 709 million and for the second quarter EUR 276 million. This represents decreases of 20 percent and 33 percent respectively.

The bank highlights the sale of its Asian private banking activites, noting that the 2017 results included “four months of fee contributions from the divested PB Asia activities” as well as a book gain from the sale.

It also expects to complete the sale of its Luxembourg private banking business to BNP Paribas during the the third quarter of 2018.

However it also has made an acquisition in the period covered by its latest results statement. It says the deal will double its assets under management (AUM) in Belgium.

Client assets totalled EUR 200.9 billion at the end of the second quarter, up from EUR 200.1 billion at the start of the quarter. The Netherlands accounted for 56 percent of the assets and the rest of Europe for the remaining 44 percent.
 

Share with Linkedin Share with Twitter
 RATE THIS ARTICLE
Poor   Average   Good   Excellent
thewealthnet archives contain 50,529 articles dating back to 1997,making it the largest single source of information on the wealth management industry world-wide. To search for more articles, please click here.

 

© This article originally featured on thewealthnet. It is protected by international copyright law. If you copy this article illegally, you will be liable to prosecution. All rights in and relating to this article are expressly reserved. No part of this article may be reproduced, stored in a retrieval system or transmitted in any form or by any means without written permission from the publishers.

 
    Latest Headlines:    by Topic | All News
 
  Advertise   |   Contribute   |   Press Release   |   Terms of Use   |   Privacy   |   Contact Us Copyright Pam Insight Ltd., All Rights Reserved