ABN Amro released its numbers for Q3 17 this morning. Total income at €2.12bn is in line with expectations (3% below our own expectations). Volatile items mainly drove this as both net interest income and fees/commissions were below expectations. The weakness in core revenues was however, offset by a sharp decrease in total expenses, which were 2% lower yoy, and 5% below expectations and ours. Gross operating income at €914m is therefore 6.5% above expectations and 1.5% above our ex
08 Nov 2017
Lower net interest income not an issue...good surprise on costs
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Lower net interest income not an issue...good surprise on costs
ABN AMRO Bank N.V. Depositary receipts (ABN:WBO) | 0 0 0.0% | Mkt Cap: 11,882m
- Published:
08 Nov 2017 -
Author:
Farhad Moshiri -
Pages:
3
ABN Amro released its numbers for Q3 17 this morning. Total income at €2.12bn is in line with expectations (3% below our own expectations). Volatile items mainly drove this as both net interest income and fees/commissions were below expectations. The weakness in core revenues was however, offset by a sharp decrease in total expenses, which were 2% lower yoy, and 5% below expectations and ours. Gross operating income at €914m is therefore 6.5% above expectations and 1.5% above our ex