ABN Amro has booked net profit of €781 million in the second quarter, up 29% on the same period last year and ahead of analyst forecasts, the bank said on Wednesday.
Analysts had expected earnings of around €686 million. The result beat even the highest forecast in that consensus, and shares in the group rose more than 5% to a record high.
The bank, which is now around one-fifth owned by the Dutch state after reducing its stake following the 2008 financial crisis, is in the process of a reorganisation that will cut 5,200 jobs by 2028.
The state is close to recouping the full €21.7 billion cost of the 2008 nationalisation of the bank, following a share price rally that took the bank’s stock above €40 this week.
