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Asset sales boost ABN profits

ABN Amro said full-year profits in its global markets business more than doubled to €667m ($866m) after a strong performance in fixed income and equities and a €190m gain from the sale of its futures business.

The bank said profits at the division, which includes sales and trading, structured lending, and fixed income capital market, were affected by a €51m provision for the futures business and €64m of restructuring charges which included "a series of targeted headcount reductions" during the fourth quarter.

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