ABN Amro Q1 net profit jumps 77% on higher rates and lower costs

AMSTERDAM (Reuters) – Dutch bank ABN Amro on Wednesday beat analyst expectations with a 77% jump in first-quarter net profit to 523 million euros ($576 million), helped by rising interest rates and lower costs.

Analysts in a company-compiled poll on average had predicted a net profit of 370 million euros for the first three months of 2023, up from 295 million euros a year before.

($1 = 0.9084 euros)