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ABN Amro Q3 profit up 19%; job cuts loom

Thursday, November 17, 2016 - 05:50

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CFO Kees van Dijkhuizen (right), who will succeed outgoing CEO Gerrit Zalm (left), said "operating income is growing much less than it did in the last couple of years, so indeed cost control is very important".

Paris

ABN Amro Group NV, the state-controlled Dutch lender that returned to the stock market last year, has reported a 19 per cent jump in third- quarter profit and says it will cut 1,500 jobs as it steps up cost reductions.

Underlying net income, which strips out one-time items,

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