ABN Amro Holding, the Netherlands' largest bank and parent of LaSalle National Bank of Chicago, ... ABN Amro net jumps; Humana

Submitted by admin on Tue, 2005-11-01 12:00. ::

ABN Amro Holding, the Netherlands' largest bank and parent of LaSalle National Bank of Chicago, said third-quarter net income rose a better-than-expected 35 percent and raised its second-half profit target after higher earnings from consumer banking in Brazil and North America.

Net income climbed to 1.2 billion euros ($1.45 billion), or 65 cents a share. Profit was helped by a 196 million-euro gain from the sale of the Brazilian Real Seguros insurance unit.

Health benefits provider reported a 41 percent drop in third-quarter profits that were dragged down by the settlement of a lawsuit as well as costs from Hurricane Katrina.

The company posted net income of $49.9 million, or 30 cents per share, including 27 cents per share in expenses from settling a class-action case, as well as 3 cents per share in Hurricane Katrina expenses.

The upswing in Humana's Medicare business offset sluggishness in its commercial sector. ''Medicare is carrying them right now,'' said Joe France, an analyst with Banc of America Securities.

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