The private banking business of ABN AMRO has reported a net profit of 136 million for the full year 2013, a whopping 166% jump from 51 million a year ago.
The bank’s assets under management within private banking grew by 5.2 billion to 168.3 billion as a result of market performance.
Net new assets in the Netherlands were more than offset by a decrease in Jersey, the Dutch bank said in a statement.
The division’s cost/income ratio declined from 80% to 75%.
The division’s operating income rose 6% to 1.18 billion from 1.11 billion in 2012.
Overall, the ABN AMRO group reported profit after tax of 1.16 billion for 2013, an increase of 1% from 2012.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData