ING Groep ADR Rep 1 Ord Shs ING

Onward and upward

[prested]

ING posts 2Q2023 net result of EUR2,155 million with strong income growth and low risk costs

ING posts 2Q2023 net result of EUR2,155 million with strong income growth and low risk costs

 Profit before tax increases significantly to EUR3,035 million in 2Q2023; CET1 ratio rises to 14.9% -- Good interest income after a long period of negative rates -- Operating expenses excluding regulatory costs slightly lower quarter-on-quarter -- Low risk costs, reflecting strong asset quality -- Growth of 227,000 primary customers and an increase in net core deposits of EUR17 billion -- Four-quarter rolling RoE increased to 11.7%; ING will pay an interim cash dividend of EUR0.35 per ordinary share 

[rad10]

Higher highs....  all good.  NCIB well executed