The retail banking unit of Dutch lender ABN AMRO has reported an underlying profit of EUR227m in the fourth quarter of 2015, down 5% compared to EUR238m in the year-ago quarter.
The division’s operating income was EUR941m, a fall of 8% from EUR1.02bn in the corresponding period of 2014.
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Net interest income decreased 9% to EUR805m from EUR885m a year earlier.
Operating expenses increased 3% to EUR616m from EUR597m in the prior year quarter.
Overall, the group’s underlying profit for the quarter was EUR272m, a 32% drop from EUR400m a year ago.
ABN AMRO Group chairman of the managing board Gerrit Zalm said: "2015 was a good year for the bank. Even though the fourth-quarter underlying net profit declined by 32% to EUR 272 million, the FY 2015 underlying net profit increased to EUR 1,924 million, up 24% compared with FY 2014.
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By GlobalData"As previously indicated, Q4 2015 includes regulatory levies of EUR 190 million (net of tax). In addition, Q4 2015 contains provisions for an identified group of SMEs with possible derivative-related issues and legal claims."
