ABN Amro posted a €294m ($315m) loss in its corporate and investment banking division for 2002, down from a €187m profit the previous year, but higher revenues for the fourth quarter provided a glimmer of hope for 2003.

The bank said its wholesale clients unit, which incorporates corporate and investment banking, made a profit of €63m in the fourth quarter, due primarily to a reduction in expenses and a pick-up in mergers and acquisitions advisory work.