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INGA ING Groep NV

15.848
0.04 (0.25%)
Last Updated: 14:03:17
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
  0.04 0.25% 15.848 15.842 15.846 16.124 15.806 15.98 6,566,662 14:03:17

ING Profit Lifted as Bad Loans Fall

04/11/2015 7:06am

Dow Jones News


ING Groep NV (EU:INGA)
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By Maarten van Tartwijk 

AMSTERDAM--Dutch bank ING Groep NV on Wednesday recorded a bigger-than-expected rise in third-quarter net profit, boosted by its retail banking operations and lower loan-loss provisions.

The Netherlands' largest bank by assets said net profit rose 15% to EUR1.06 billion ($1.49 billion). Underlying pretax profit, which strips out divestments and other special items, rose 1% to EUR1.5 billion.

The results slightly beat analysts' expectations and were boosted by an improved performance of ING's retail bank, which recorded a 10% rise in underlying pretax profit as it benefited from lower loan-loss provisions in the Netherlands and Belgium. This helped cushion the impact of a weaker performance of the commercial bank, which saw profit fall 24% in part due to lower income at the financial markets division.

Write to Maarten van Tartwijk at maarten.vantartwijk@wsj.com

 

Subscribe to WSJ: http://online.wsj.com?mod=djnwires


(END) Dow Jones Newswires

November 04, 2015 01:51 ET (06:51 GMT)

Copyright (c) 2015 Dow Jones & Company, Inc.

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