AMSTERDAM, Netherlands (AP) - Dutch banking group ABN Amro Holding NV reported a 35 percent incre... ABN Amro 3Q profit beats e

Submitted by admin on Mon, 2005-10-31 12:00. ::

AMSTERDAM, Netherlands (AP) - Dutch banking group ABN Amro Holding NV reported a 35 percent increase in third-quarter earnings Monday, outpacing market expectations, and said the hard-fought acquisition of an Italian bank laid the groundwork for further growth.

The Amsterdam-based bank reported a profit of 1.2 billion euros ($1.46 billion), compared with 892 million euros in the same quarter last year. Operating income was up nearly 10 percent, while operating expenses were held to a 2.4 percent increase, the bank said.

The results were lifted by the sale of the private banking unit Nachenius, Tjeenk & Co. to BNP Paribas SA and Brazilian insurance operations Real Seguros, and exceeded analysts' profit predictions of 781 million euros ($948 million), Dow Jones Newswires reported.

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