Higher Loan-Impairment Charges Weigh on Profit in ABN Amro's 1Q
ABN Amro reported EUR 595 million in net income for the first quarter of 2018, down 3% from the year-ago quarter. The decline was caused by higher impairment charges while revenue generation was intact and costs were flat. Stable net interest income generation continued and NII got a 5% boost, but fee income declined 5% year over year. Although only a small part of revenue, other income saw a 15% increase. All in all, we are satisfied to see revenue increase 4% over last year.Although ABN Amro ...
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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