ABN Amro Holding NV said Thursday that its earnings for the first half rose 27.6%, to $1.52 billion.

The $489 billion-asset banking company, which like many European financial institutions reports earnings semiannually, said the increase would have been larger except for fixed-income trading losses at the investment bank.

The results exceeded expectations. Analysts had predicted ABN Amro would earn $1.4 billion to $1.51 billion.

The company had recently said its six-month profits would probably rise by 20% to 30% over the year-earlier figure.

The Dutch banking company said net interest revenue from investment banking declined 19.7%, to $116 million.

Nevertheless, pre-tax profit from the investment bank was up 26% to $352 million, the company said.

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