(Bloomberg) — ABN Amro Bank NV posted a higher-than-expected loss and provisions in the first quarter, prompting new Chief Executive Officer Robert Swaak to ramp up a review of the investment bank as he seeks to return the Dutch lender to profitability.The bank set aside 1.1 billion euros ($1.2 billion) to cover the cost of loans going bad, more than expected, and said the figure may rise to 2.5 billion euros for the full year. The lender reported a net loss of 395 million euros, its first in seven years, partly related to its exposure to two clients.European lenders have …read more
Source:: Yahoo Finance
