ABN Amro Posts Loss as Fine Hits Earnings, Loan Income Falls
- Dutch bank hiring staff to fix weak money laundering controls
- Interest income reduced by efforts to shrink investment bank
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ABN Amro Bank NV posted a loss in the first quarter on a slump in lending income and a fine for weak money-laundering controls. The shares slid the most in more than five months.
The net loss in the three months through March was a bigger-than-expected 54 million euros ($65.5 million) after a loss of 395 million euros a year earlier. That wiped out gains made by releasing 77 million euros from its credit loss reserves.