ABN AMRO Bank NV (FRA:AB2)
€ 15.405 -0.375 (-2.38%) Market Cap: 12.95 Bil Enterprise Value: 38.74 Bil PE Ratio: 4.87 PB Ratio: 0.52 GF Score: 66/100

Q1 2023 ABN Amro Bank NV Earnings Call Transcript

May 10, 2023 / 08:00AM GMT
Release Date Price: €14.17 (-0.46%)
Operator

Hello, and welcome to the ABN AMRO Q1 2023 Analyst and Investor Call. My name is Laura, and I will be your coordinator for today's event. Please note, this call is being recorded. (Operator Instructions)

I will now hand you over to your host, Robert Swaak, Chief Executive Officer of ABN AMRO, to begin today's conference. Thank you.

Robert A.J. Swaak
ABN AMRO Bank N.V. - CEO & Chairman of Executive Board

Thank you, and good morning, everyone. Welcome to ABN AMRO's Q1 results. Today, I'm joined by Ferdinand Vaandrager, our Interim CFO; Tanja Cuppen, our CRO. I'll update you on the main topics for this quarter before we start the Q&A session.

So let me first take you through the highlights on Slide 2. We had a very good start to the year with a net profit of EUR 523 million and an ROE of almost 10%. Dutch economy remained resilient and business momentum was good for corporate lending.

Net interest income further increased, which was largely driven by improved deposit margins. Fees are resilient and underlying costs continued

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