ABN Amro announces 500 mln euro share buyback as Q4 profit beats forecasts

Kitco Media
By Reuters
Published:
Updated:
Reuters
AMSTERDAM, Feb 8 (Reuters) - Dutch bank ABN Amro said on Wednesday it would buy 500 million euros ($536.7 million) of its own shares, as it reported better-than-expected fourth-quarter earnings helped by rising interest rates and lower impairments. Net profit of the largely state-owned bank dropped to 354 million euros in the last three months of 2022, down from 552 million euros the year before - but significantly better than the 105 million euros analysts on average had predicted in a company-compiled poll. ($1 = 0.9316 euros) (Reporting by Bart Meijer; Editing by Jacqueline Wong)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.