ENXTAM:ABNBanks
ABN AMRO (ENXTAM:ABN) Stock Commands Premium As Profit Strength Builds
ABN AMRO Bank stock came into today on a strong run, with the shares up about 27% over the last three months and closing at €41.5 on 13 August. The headline from these Q2 numbers is simple: profitability is doing the heavy lifting. Net income excluding extra items reached €781m and quarterly basic earnings per share came in at €0.96, with management flagging a net profit margin over the past year of 25.3%.
In the very short term the market will focus on that recent rally and the premium P/E...