ABN Amro exceeds profit forecast and announces buyback program; in Amsterdam, share jumps 5%

ABN Amro had a net profit of 545 million euros in the fourth quarter of 2023, greater than the gain of 354 million euros recorded in the same period of 2022, according to the balance sheet released this Wednesday, 14. The result exceeded the analysts expect a profit of 397 million euros, according to a consensus provided by the bank itself. At around 8:45 am (Brasília time), the Dutch bank's shares jumped 5.3% on the Amsterdam stock exchange.

Operating revenue in the quarter totaled 2.04 billion euros, practically in line with the consensus of 2.06 billion euros. Net interest income alone was 1.5 billion euros, compared to a projection of 1.49 billion euros.

Given the good performance, ABN Amro launched a 500 million euro share buyback program.

At the end of November, the Dutch government announced the start of a process to reduce its stake in ABN Amro, from 49.5% to around 40%. *With information from Dow Jones Newswires.