January 16, 2018 / 6:55 AM / in a month

BRIEF-ABN Amro Says Q4 Results To Include Several Incidentals In Operating Income And Expenses​

Jan 16 (Reuters) - ABN AMRO GROUP NV:

* ‍Q4 2017 RESULTS OF ARE EXPECTED TO INCLUDE SEVERAL LARGE INCIDENTALS IN OPERATING INCOME AND OPERATING EXPENSES​

* ‍AGGREGATE IMPACT OF THESE IDENTIFIED LARGE INCIDENTALS IS EXPECTED TO BE NOT MATERIAL​

* RELEASE OF UNEARNED INTEREST AND MORTGAGE PENALTIES EXPECTED TO TOTAL AROUND EUR 125 MILLION

* ‍SALE OF REMAINING EQUITY STAKE IN VISA INC. SHARES RESULTED IN BOOK GAIN OF EUR 114 MILLION​

* ‍BENEFITS ARE OFFSET BY THREE PROVISIONS​

* AMSTERDAM COURT OF APPEAL RULED AGAINST CO IN CASE WHERE CO RAISED SURCHARGES FOR MORTGAGES WITH EURIBOR INTEREST RATES

* ON COURT RULING: ‍EXPECTS TO INCREASE ITS EXISTING PROVISION BY APPROXIMATELY EUR 50M​​

* ‍RECOVERY FRAMEWORK FOR SME DERIVATIVES-RELATED ISSUES IS MORE EXTENSIVE THAN EXPECTED​

* - ‍ON SME: PROJECT COSTS ARE EXPECTED TO RISE WITH ADDITIONAL EUR 80-100 MILLION FOR WHICH PROVISION IS INTENDED​

* EXPECT TO TAKE ADDITIONAL RESTRUCTURING PROVISION OF AROUND EUR 100 MILLION RELATED TO REORGANISATION Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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