ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for discussion Register to chat with like-minded investors on our interactive forums.

INGA ING Groep NV

16.524
0.298 (1.84%)
17 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
ING Groep NV EU:INGA Euronext Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.298 1.84% 16.524 17.00 16.53 16.524 16.22 16.22 10,816,361 16:40:00

ING 1Q Profit Beat Views, Launches EUR1.5 Billion Buyback

11/05/2023 6:53am

Dow Jones News


ING Groep NV (EU:INGA)
Historical Stock Chart


From May 2022 to May 2024

Click Here for more ING Groep NV Charts.

By Elena Vardon

 

ING Groep NV on Thursday beat expectations as it reported first-quarter earnings boosted by interest rates and lower provisions, and launched a 1.5 billion-euro ($1.65 billion) share buyback.

The Dutch bank posted a net profit of EUR1.59 billion for the three months to March 31 compared with EUR429 million a year earlier and exceeding expectations of EUR1.11 billion taken from a company-compiled consensus.

Total income for the quarter came in 21% ahead of the previous year at EUR5.57 billion, beating consensus estimates of EUR5.20 billion. This included EUR4.01 billion in net interest income--the difference between what banks earn on loans and pay clients for deposits--against consensus of EUR3.93 billion.

It booked a lighter addition to loan loss provisions at EUR152 million, while consensus had the figure at EUR430 million compared with a EUR987 million charge in the same quarter last year.

ING's common equity Tier 1 ratio--a key measure of balance-sheet strength--was 14.8% at the end of the period, from 14.5% a quarter earlier, and consensus of 14.3%, it said.

 

Write to Elena Vardon at elena.vardon@wsj.com

 

(END) Dow Jones Newswires

May 11, 2023 01:38 ET (05:38 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

1 Year ING Groep NV Chart

1 Year ING Groep NV Chart

1 Month ING Groep NV Chart

1 Month ING Groep NV Chart

Your Recent History

Delayed Upgrade Clock