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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| ING Groep NV | NYSE:ING | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.1075 | 0.63% | 17.2875 | 17.31 | 17.24 | 17.28 | 1,000,958 | 17:08:16 |
From May 2019 to May 2024
By Maarten van Tartwijk
AMSTERDAM--Dutch bank ING Groep NV (INGA.AE) said Tuesday its first-quarter net profit fell as a result of higher regulatory costs and lower income at its financial-markets division.
Amsterdam-based ING said net profit for the quarter ended March dropped 29% to 1.26 billion euros ($1.43 million) from 1.77 billion euros a year earlier.
Underlying pretax profit, the bank's preferred measure of its operating performance, fell to 1.19 billion euros from 1.66 billion euros last year.
The results were slightly below analysts' expectations.
ING said the earnings drop was driven primarily by a sharp rise in costs to cover banking regulations in the Netherlands, Poland and Germany. Its financial-markets business suffered a drop in revenue due to market volatility in the first few months of the year.
Write to Maarten van Tartwijk at maarten.vantartwijk@wsj.com
(END) Dow Jones Newswires
May 10, 2016 01:59 ET (05:59 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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