3:00am 04/28/03 ABN Amro Q1 provisioning down, no outlook ahead
- Emily Church
ABN Amro Q1 provisioning down, no outlook ahead (ABN) By Emily Church
Dutch bank ABN Amro (ABN) on Monday said provisioning decreased 10.7 percent and net profit rose 0.7 percent to 690 million euro in its first quarter vs. the fourth quarter. Provisioning and profit were higher vs. the year-ago as well, it said. Looking ahead, the bank was cautious on growth prospects. "The general direction and the impact of the geo-political developments on the global economy are not clear. Although we are confident about our operational performance, it is difficult to be optimistic about the general state of the global economy. We will therefore continue to refrain from giving an outlook for the year at this point in time."
- Emily Church
ABN Amro Q1 provisioning down, no outlook ahead (ABN) By Emily Church
Dutch bank ABN Amro (ABN) on Monday said provisioning decreased 10.7 percent and net profit rose 0.7 percent to 690 million euro in its first quarter vs. the fourth quarter. Provisioning and profit were higher vs. the year-ago as well, it said. Looking ahead, the bank was cautious on growth prospects. "The general direction and the impact of the geo-political developments on the global economy are not clear. Although we are confident about our operational performance, it is difficult to be optimistic about the general state of the global economy. We will therefore continue to refrain from giving an outlook for the year at this point in time."
