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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 | |
|---|---|---|---|---|---|---|---|---|
| 1.12 | 7.03% | 17.05 | 17.13 | 16.85 | 16.975 | 5,900,680 | 22:30:00 |
From May 2019 to May 2024
AMSTERDAM—Dutch bank ING Groep NV said Tuesday that 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 to the end of March dropped 29% to €1.26 billion ($1.43 million), from €1.77 billion in the same period a year earlier.
Underlying pretax profit, the bank's preferred measure of its operating performance, fell to €1.19 billion from €1.66 billion last year.
The results came in slightly below analysts' expectations.
ING said the earnings drop was primarily driven 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 months of 2016.
Write to Maarten van Tartwijk at maarten.vantartwijk@wsj.com
(END) Dow Jones Newswires
May 10, 2016 03:35 ET (07:35 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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