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ABN Amro Q4 net profit dives 42 percent as loan impairments surge

Reuters  |  AMSTERDAM 

AMSTERDAM (Reuters) - Dutch bank ABN Amro on Wednesday posted fourth-quarter net profit way below analysts' expectations as loan impairments jumped.Net profit plunged 42 percent to 316 million euros ($358.2 million) from 542 million euros a year earlier. This compares with an average expectation of 446 million euros in a Reuters poll of analysts."Net profit was impacted by elevated loan impairments in specific sectors," Chief Executive Kees van Dijkhuizen said.Loan impairments soarded to 208 million euros from 34 million a year earlier, as shipping, oil services, jewellery and some other ...

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First Published: Wed, February 13 2019. 12:45 IST