Repeat & Correct: ING Sets Growth 2022-2025 Targets

ING Groep NV on Monday said that it is targeting total income growth of 3% a year for the period between 2022 and 2025. "ING Revises Growth 2022-2025 Targets; Expects Annual Avg Fee Income Growth of 5%-10%," at 0623 GMT, incorrectly said that the targets were revised in the headline and misstated the company's name in the first paragraph. The correct version follows:

By Michael Susin

ING Groep NV on Monday said that it is targeting total income growth of 3% a year for the period between 2022 and 2025.

In a statement ahead of an investor update, the Dutch multinational bank also said it is targeting annual average fee income growth of between 5% and 10% for the period.

It also expects a common equity Tier 1 ratio--the comparison of the bank's capital against its assets--of around 12.5%, and a return on equity of 12% for 2025, ING said.

"In addition to these financial targets, we have set a target for our commitment to support our wholesale banking clients in their green transition and commit to mobilize 125 billion euros ($131.47 billion) of sustainable finance per annum by 2025," Chief Executive Officer Steven van Rijswijk said.

Write to Michael Susin at [e-mail]

(END) Dow Jones Newswires

June 13, 2022 03:34 ET (07:34 GMT)

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