ABN Amro has reported a 4Q15 net profit of €272m, down 24% YoY , due to increasing regulatory costs, including a bank tax and contributions made to national funds for winding down banks and insuring deposits; these measures accounted for a €91m cost in the quarter , up from €220m the quarter . “2015 was a good year for the bank,” Gerrit Zalm, chairman of the managing board of ABN Amro Group, said in the statement. However, underlying net profit increased by 32% YoY , to €1.9bn.
ABN Amro has reported a 4Q15 net profit of €272m, down 24% YoY , due to increasing regulatory costs, including a bank tax and contributions made to national funds for winding down banks and insuring deposits; these measures accounted for a €91m cost in the quarter , up from €220m the quarter . However, underlying net profit increased by 32% YoY , to €1.9bn.