ING Groep 2Q Internet Revenue Sees Curiosity Earnings Enhance – Earnings Preview

Written by Elena Vardon

ING Groep is scheduled to report its second quarter 2023 outcomes on Thursday. Here’s what it’s essential to know:

Internet revenue outlook: The Dutch financial institution is predicted to put up a second-quarter internet revenue of 1.64 million euros ($2.10 billion), in response to a consensus compiled by the corporate based mostly on estimates from 18 analysts. This compares to a internet revenue of €1.18 billion for a similar interval final yr. Jefferies analysts level out that decrease prices ought to make up for increased provisions and constant income.

Internet curiosity revenue forecast: The lender’s internet curiosity revenue excluding the three months to June 30 is estimated at €4.13 billion unanimously, in comparison with €3.465 billion within the corresponding quarter of the earlier yr. This could present resilience with the inflow of value hikes, Julia Aurora Mioto, an analyst at Morgan Stanley, wrote in a be aware, including that “the financial institution had a comparatively increased charge of financial savings within the second quarter than within the first quarter, with the financial savings charge steadily growing within the Netherlands.” .”

what do you need to watch:

— CET1 RATIO: The lender’s tier 1 ratio of widespread fairness — a key measure of stability sheet power — can be in focus and is predicted to be 14.6% by consensus, in comparison with 14.8% on the finish of the primary quarter.

Shareholder returns: The consensus signifies a dividend of €0.31 per share for the second quarter, bringing full-year compensation to €0.92. No share buyback program is predicted to be introduced at this level, in response to estimates, although analysts see one in third-quarter outcomes as soon as it wraps up its present program by Oct. 18.

Steering: The group is more likely to replace its steering for this yr as present overviews of 10% income development for the yr appear very conservative, Financial institution of America World Analysis analyst Tarek Al-Majad says in a be aware.

Write to Elena Vardon at elena.vardon@wsj.com

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