AMSTERDAM — ABN Amro Bank NV reported first-quarter net income of €692 million, beating every analyst estimate, as fee revenue surged and lending income held firm against margin pressure.
Net interest income rose to €1.64 billion, up from €1.56 billion a year earlier and above the €1.60 billion consensus forecast. Net fee and commission income climbed 20 percent to €608 million, driving the bulk of the profit beat. Shares jumped 7.9 percent on the news.
The Amsterdam-based lender credited higher fees and lending growth for the stronger results, with cost discipline offsetting pressure on loan margins.
Management raised its full-year outlook for net interest income — the bank's largest revenue line — citing sustained demand for lending and financial services.
For fixed-income investors, ABN Amro's ability to expand both net interest income and fee revenue while policy rates remain elevated points to disciplined balance sheet management. The deposit and lending growth reported in the quarter provides a stable earnings base heading into a rate environment that remains uncertain.
