CORRECTIONS & AMPLIFICATIONS: This headline was corrected at 0615 GMT as a result of the reported interval was misstated because the fourth quarter. In addition, the corporate’s web revenue was EUR1.87B, not EUR1.876B
ABN AMRO Bank NV on Wednesday posted working revenue and web revenue forward of expectations for the fourth quarter of 2022, and stated it’s launching a 500 million-euro ($536.5 million) share buyback program.
The Dutch lender
ABN,
posted a web revenue of EUR354 million for the three months to Dec. 31, in contrast with the EUR80 million anticipated by a company-complied consensus from 18 analysts’ estimates and with EUR552 million a 12 months earlier.
The financial institution’s working revenue for the interval was EUR1.86 billion, towards consensus of EUR1.69 billion. Net curiosity revenue contributed EUR1.56 billion, beating analysts’ expectations of EUR1.41 billion.
ABN AMRO’s widespread fairness Tier 1 capital ratio–a measure of a financial institution’s resilience–stood at 15.2% below Basel III banking requirements, forward of expectations of a 14.9% ratio. CET1 ratio below Basel IV was round 16%, towards consensus’ anticipated 15.3%.
The financial institution’s working bills for the total 12 months have been in keeping with its EUR5.3 billion steering as underlying prices fell 2% on quarter, it stated.
It proposed a remaining money dividend of EUR0.67 a share, whereas analysts had anticipated EUR0.84 a share.
“2023 will be a year of delivery as we continue our transition to becoming a personal bank in the digital age,” Chief Executive Robert Swaak stated.
Write to Elena Vardon at elena.vardon@wsj.com
Source web site: www.marketwatch.com
