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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 | |
|---|---|---|---|---|---|---|---|---|
| 0.22 | 1.40% | 15.94 | 15.98 | 15.85 | 15.85 | 2,552,220 | 23:41:13 |
From Apr 2019 to Apr 2024
By Maarten van Tartwijk
AMSTERDAM-- ING Groep NV said Wednesday that its profit rose in the second quarter as the Dutch lender expanded its loan book, booked a gain from an asset sale and reduced its loan-loss provisions.
The Netherlands' largest bank by assets said net profit rose 27% to EUR1.36 billion ($1.49 billion), lifted by a EUR376 million gain tied to the sale of its stake in Vysya Bank, an Indian lender. Underlying pretax profit, which strips out divestments and other special items, rose 25% to EUR1.6 billion.
The results, which were slightly below analysts' expectations, were boosted by continued growth of ING's lending book, which led to an increase in net interest income of 4% to EUR3.1 billion, while loan-loss provisions dropped 13% to EUR353 million. This was partly offset by a decline in commission income, which fell 2% to EUR584 million.
Write to Maarten van Tartwijk at maarten.vantartwijk@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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