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- ABN AMRO reports net profit of EUR2,046m for 2019
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14th February 2020
ABN AMRO reports net profit of EUR2,046m for 2019
ABN AMRO has reported net profit of EUR2,046m for 2019. Highlights are:
-Q4 2019 net profit of EUR316m, impacted by low interest rates and high impairments
-Return on equity for FY 2019 solid at 10.0%; cost/income ratio for FY 2019 of 61%
-Basel III capital position strong, CET1 ratio at 18.1% and Basel IV CET1 over 14%
-Final dividend of EUR 0.68 per share proposed. FY 2019 dividend pay-out ratio maintained at 62%, which equals EUR 1.28 per share
-Progress made on remediation programmes; Detecting Financial Crime(DFC) activities reviewed by independent expert, plan shared with regulator
-Costs around EUR5.1bn in 2020 and below EUR5bn thereafter; increasing DFC costs to be mitigated by further IT savings.