ABN Amro Asset Management saw assets increase by 12.2% to €166bn ($197.6bn) in this year's first quarter compared with the same period a year ago due to the acquisition of Sparebank in Norway, new net inflows and an equity market recovery.

Revenues increased to €144m from €109m as a result of the higher assets under management and a one-off gain relating to the sale of its Czech Pension Fund. Net profits increased by 114.3% to €30m in the first quarter.