ABN AMRO Group reports Q1 2011 underlying profit of EUR 583 million

Press release -

Reported net result in Q1 2011 was EUR 539 million (Q1 2010 reported net profit: EUR 250million).

  • Reported net result in Q1 2011 was EUR 539 million (Q1 2010 reported net profit: EUR 250
    million)

  • Underlying net profit, which excludes separation and integration-related costs, amounted to
    EUR 583 million (Q1 2010 underlying net profit: EUR 314 million)

  • Commercial & Merchant Banking realised good revenue growth, Retail & Private Banking
    maintained its solid performance, costs were kept under control and loan impairments were
    low

  • The underlying cost/income ratio improved to 58% (71% in Q1 2010, which included high
    interest costs for capital instruments, fees for a credit protection instrument and litigation
    provisions)

  • At 31 March 2011, pro forma combined core Tier 1, Tier 1 and total capital ratio under Basel II
    were 11.3%, 13.8% and 17.9% respectively

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