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ING Groep ADR Rep 1 Ord Shs ING

ING Groep N.V. (ING) is a financial institution. The Company offers banking services. The Company's segments include Retail Netherlands, which offers current and savings accounts, business lending, mortgages and other consumer lending in the Netherlands; Retail Belgium, which offers products that are similar to those in the Netherlands; Retail Germany, which offers current and savings accounts, mortgages and other customer lending; Retail Other, which offers products that are similar to those in the Netherlands, and Wholesale Banking, which offers wholesale banking activities (a full range of products from cash management to corporate finance), real estate and lease. The Company's Retail Banking business lines provide products and services to individuals, small and medium-sized enterprises (SMEs) and mid-corporates. ING's banking activities in Australia are undertaken by ING Bank (Australia) Limited (trading as ING Direct) and ING Bank NV Sydney Branch.


NYSE:ING - Post by User

Post by prestedon Aug 03, 2023 11:40am
101 Views
Post# 35571291

Onward and upward

Onward and upwardING 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 
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