The retail banking unit of Dutch lender ABN AMRO has reported an underlying profit of EUR227m in the fourth quarter of 2015, down 5% compared to EUR238m in the year-ago quarter.
The division’s operating income was EUR941m, a fall of 8% from EUR1.02bn in the corresponding period of 2014.
Net interest income decreased 9% to EUR805m from EUR885m a year earlier.
Operating expenses increased 3% to EUR616m from EUR597m in the prior year quarter.
Overall, the group’s underlying profit for the quarter was EUR272m, a 32% drop from EUR400m a year ago.
ABN AMRO Group chairman of the managing board Gerrit Zalm said: "2015 was a good year for the bank. Even though the fourth-quarter underlying net profit declined by 32% to EUR 272 million, the FY 2015 underlying net profit increased to EUR 1,924 million, up 24% compared with FY 2014.
"As previously indicated, Q4 2015 includes regulatory levies of EUR 190 million (net of tax). In addition, Q4 2015 contains provisions for an identified group of SMEs with possible derivative-related issues and legal claims."