ABN AMRO reports full-year underlying profit of EUR 960 million
- Financial results
ABN AMRO reports full-year underlying profit of EUR 960 million
Underlying net profit, which excludes integration and separation-related expenses, was EUR 960 million in 2011, compared to EUR 1,077 million in 2010. Underlying net profit of 2011 suffered from EUR 880 million pre-tax (EUR 660 million net of tax) impairments on Greek Government-Guaranteed Corporate Exposures
Reported net profit amounted to EUR 689 million for 2011 compared with a loss of EUR 414 million for 2010
The underlying cost/income ratio improved to 64% in 2011, down from 70% in 2010
Successful completion of most of the integration projects
The Core Tier 1 ratio was 10.7% and the Tier 1 ratio was 13.0% on 31 December 2011. ABN AMRO has good access to wholesale market funding
Underlying net loss of EUR 23 million in Q4 was caused by EUR 380 million (pre-tax) additional impairments on Greek Government-Guaranteed Corporate Exposures and higher impairments at Commercial & Merchant Banking. The reported net loss in Q4 was EUR 121 million
A total dividend of EUR 250 million has been proposed to the ordinary shareholders, which includes the interim dividend (EUR 200 million) paid in September 2011
For further information, please contact: ABN AMRO Press Office +31 20 6 288 900 ABN AMRO Investor Relations +31 20 6 282 282