May 13, 2020 / 5:16 AM / 24 days ago

ABN Amro swings to Q1 net loss of 395 mln euros, including provisions of 1.1 bln euros

AMSTERDAM, May 13 (Reuters) - Dutch bank ABN Amro on Wednesday reported a 395 million euro ($428 million) loss for the first quarter of 2020, hit by loan provisions of 1.1 billion euros, including what it said were losses on two large individual client files.

The loss compares to a net profit of 478 million euros in the first quarter of 2019.

The bank said its operating profit for the latest quarter was 624 million euros, down 17% from 754 million euros in the same period a year ago.

On March 30, ABN had warned it would suffer a loss for the quarter and scrapped paying dividends until Oct. 1 at the earliest. ($1 = 0.9219 euros) (Reporting by Toby Sterling; Editing by Himani Sarkar)

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