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ABN Amro reports 54 mln Q1 net loss as money laundering fine weighs

AMSTERDAM, May 12 (Reuters) - Dutch bank ABN Amro on Wednesday reported a net loss of 54 million euros ($66 million) over the first three months of 2021, as a hefty fine for money laundering outweighed the positive effects of economic recovery in the Netherlands.

ABN Amro last month agreed to pay 480 million euros to Dutch prosecutors to settle a criminal investigation into its lax oversight of money laundering going on through its accounts.

$1 = 0.8249 euros Reporting by Bart Meijer; Editing by Tom Hogue

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