ABN’s First-Half Net Income Supported by Higher Trading Gains and One-Offs Booked From Asset Sale
No-moat ABN’s first-half 2017 net income increased by 82% to EUR 1.6 billion, mainly supported by one-off income of EUR 255 million in proceeds from the sale of Private Banking Asia and the Middle East, as well as higher trading income. On the core revenue side, we deem the performance somewhat mediocre relative to last year. Net interest income increased by 2%, while net fee and commission income declined 2%. We maintain our fair value estimate of EUR 26 per share, and shares offer slight upsid...ABN Amro Bank NV is a bank based in the Netherlands. The Bank provides various financial products and services across a variety of channels, including its Mobile Banking app and Internet Banking. The Bank's product portfolio includes insurances, mortgages, savings, investments, loans and payments, among others. The Bank serves retail, private and corporate clients worldwide.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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