ABN Amro reports 13 percent rise in third quarter profit

ABN Amro, the nationalised Dutch bank that awaits its initial public offering of shares, on November 09 reported a 13 percent rise in profit for the third quarter as the Netherlands' economy continued to gather steam.
The bank reported underlying net profit of 509 million euros ($548 million), up from 450 million euros in the same period a year earlier.
Book value, the metric widely used in the company's IPO valuation, rose to 16.1 billion euros from 15.9 billion euros at the end of June.
ABN derives 80 percent of profits from the Dutch market, which after seven years of zero growth following the 2008 financial crisis is expected to grow 2.4 percent next year.