ABN Amro profit rises on interest income, lower provisions

MUNICH: ABN Amro Group NV, the state-controlled Dutch lender, reported a 23% increase in fourth-quarter profit, helped by higher net interest income and lower provisions set aside for risky loans.

Underlying net income, which strips out one-time items, rose to 333 million euros (US$352mil) from 272 million euros a year earlier, the Amsterdam-based company said in a statement yesterday. Net interest income rose 5% and impairment charges declined 72%.