ABN AMRO Q2 slips, warns of higher loan impairments in 2013
AMSTERDAM Aug 23 (Reuters) - Dutch state-owned bank ABN AMRO reported second-quarter net profit of 402 million euros ($536.5 million), down 3 percent from the first three months, hit by higher loan impairments resulting from a weak domestic economy.
"We are predominantly exposed to the Dutch economy and hence to the current economic downturn, which led to a sharp rise in loan impairments," Chief Executive Gerrit Zalm said in a statement, warning that loan impairments for the full year would exceed last year's level.
"Domestically-focused small and medium-sized enterprises in particular were hit hard by the decline in consumer spending."
($1 = 0.7493 euros) (Reporting by Sara Webb; Editing by David Cowell)
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