EUROPE - ABN Amro said third-quarter net profits at its asset management business fell 5.7% pct to €50m from €53m in the prior year period.

Year-to-date profit was up 10.4% at €148m, with total operating income up 2.18% at €572m.

Total assets under management have risen to €192bn, up 9.1% since the start of the year.

The increase in commission income was mainly due to higher fee levels on existing products and a further shift in the asset mix towards more profitable products, ABN Amro said.

Overall, net profit attributable to ABN Amro shareholders fell to €1.137bn, including a net gain of €190m on the sale of its global futures and options activities to UBS.

Total operating income rose 9.0% to €572m.

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