Net profit doubles at ABN Amro
ABN Amro posted a net profit of 1.134 billion euros in 2014. Exuding once-off write offs, the bank made a profit of 1.551 billion euro - double that of 2013, the bank announced today. "We ended the year 2014 with a strong fourth quarter." said Gerrit Zalm, Chairman of the Managing Board of ABN Amro. The bank's underlying net profit amounted to 400 million euro in the 4th quarter, compared to a loss of 47 million euros in the same period in 2013. According to Zalm, this was mostly due to a decrease in provisions the bank had to made to cover unpaid loans and an increase in revenue thanks to the recovering economy and housing market. The governments eventually wants to put ABN Amro in the stock market. Minister Jeroen Dijsselbloem of Finance will likely make a decision on this next month.