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Dutch division's first quarter net profit plunged 62%

Source: Internet
Author: User
Keywords Bank net profit euro
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The Netherlands, ABN AMRO Holding NV, published its first-quarter financial results for 2009 in Monday, the evening News of Beijing time May 25.　　The report showed that the sector's first-quarter net profit fell sharply, by 62% per cent year-on-year, as a result of the increase in bad debt reserves. During the quarter, ABN Amro's Dutch division had a net profit of 87 million euros (about 122 million US dollars) from ongoing operations, less than the same period last year. In the first quarter of fiscal 2008, the Dutch sector had a net profit of € 226 million. ABN Amro's Dutch department's first-quarter loan impairment and other credit risk reserves were € 252 million, up nearly twice times from the same period last year.

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