ABN AMRO Releases Results in Q3 2020: Net Profit of EUR 301 million

ABN AMRO, an international provider of banking and insurance services based in the Netherlands, reports net profit of EUR 301 million in Q3 2020.

The company's net profit reached EUR 301 million in Q3 2020, reflecting good operational performance and moderating impairments. Cost/income ratio for Q3 was 61.5%, return on equity 5.6%. ABN AMRO's strong capital position, Basel III CET1 ratio of 17.2% and Basel IV CET1 of around 15%, provides resilience.

Robert Swaak, CEO, comments:' As the Covid-19 health crisis continues to affect us all, the wellbeing of our clients and staff remains our main focus and we will continue to support our clients wherever possible. Our strong digital backbone combined with the dedication and flexibility of our people ensures our services to clients remain consistent and our operating result resilient. 

Net profit in Q3 2020 was EUR 301 million, reflecting good operational performance and moderating impairments under challenging circumstances. In Q3, the resulting return on equity was 5.6% and the cost/income ratio was 61.5%. We entered the Covid-19 crisis with a strong capital position – the Q3 Basel III CET1 ratio was 17.2% while the Basel IV CET1 ratio increased to around 15%. I am pleased with our strong capital position, which provides resilience in a challenging environment. We are committed to resuming payment of dividends, sustainably, conditions permitting and taking into account ECB recommendations.'