ABN Amro Q2 net loss widens

Netherlands-based ABN Amro Holdings, which is jointly owned by the Royal Bank of Scotland Group, Banco Santander and the Dutch government, has reported a loss of E1.76 billion for the second quarter of 2009, compared to a loss of E886 million for the first quarter of 2009.

The bank has said that in the second quarter a loss after tax of E1.86 billion from continuing operations was offset by a gain after tax on discontinued operations of E96 million. The group's total loss after taxes comprises a loss after tax of E1.83 billion attributable to the Royal Bank of Scotland Group acquired businesses, a loss of E10 million attributable to the Dutch state acquired businesses, a loss of E12 million attributable to the group's central items.

For the second quarter of 2009, loss from continuing operations was E1.86 billion, compared to a loss from continuing operations of E889 million for the first quarter of 2009. Net interest income was E1.12 billion, compared to E1.21 billion for the first quarter of 2009. Operating income for the second quarter of 2009 was E926 million, compared to E1.57 billion for the first quarter of 2009.

For the first six months ended June 30, 2009, the company has reported a loss of E2.65 billion, compared to a profit of E2.88 billion for the same period of 2008. Loss from continuing operations was E2.75 billion, compared to a loss from continuing operations of E2.86 billion for the same period of 2008.

Net interest income for the first half of 2009 was E2.33 billion, compared to E2.65 billion for the same period of 2008. Operating income was E2.49 billion, compared to E2.33 billion for the first half of 2008.

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