ABN AMRO Posts 21% Increase YoY in Profit in Q2 2022

Dutch banking giant ABN AMRO has released its financial results for the second quarter of 2022, which showed the profit for the quarter reached €475 million, up 21% from €393 million in 2Q 2021.

• Profit before tax was €626 million, an increase of 7% from €583 million in the same period last year.

• Return on equity (ROE) reached 8.8%, an increase of 1.2 percentage points year-on-year.

• Mortgage and corporate loan continued to grow, with mortgage market share increasing to 17.5% in the second quarter.

• Net interest income was €1.273 billion, compared with €1.306 billion last year, a slight decrease of 3% on a YoY basis. However, deposit margins benefit from higher interest rates, the net interest income (NII) is expected to bottom out in the second half of this year and to end around €5.2 billion for the full year.

• Operating income rose by 9% to €1.884 billion from €1.732 billion in the second quarter of last year.

• The bank's capital position remains strong, with a fully-loaded Basel III CET1 ratio of 15.5% and a Basel IV CET1 ratio of around 16%.

• ​Interim dividend has been set at €0.32 per share.