ING Group 2Q Web Pft EUR2.155B

By Elena Vardon

ING Groep exceeded expectations because it reported a leap in its internet revenue for the second quarter of 2023 after curiosity earnings boosted its income.

The Dutch financial institution on Thursday reported a internet revenue of two.155 billion euros ($2.36 billion) for the three months to June 30, in comparison with 1.18 billion euros a yr earlier and exceeding the 1.64 billion euros anticipated in a consensus compiled by the corporate.

Complete earnings for the quarter got here in 23% forward at €5.76 billion, beating consensus estimates of €5.5 billion. This included €4.06 billion in internet curiosity earnings – the distinction between what banks earn on loans and prospects pay for deposits – in opposition to the consensus of €4.13 billion. It added that the curiosity margin was 1.56% for the quarter.

“The present rate of interest atmosphere has fueled earnings progress in each retail and wholesale banking, with continued deposit inflows via our retail markets,” stated CEO Stephen van Rieswijk.

It stated the Tier 1 ratio of ING’s frequent shares — a key measure of stability sheet energy — was 14.9% on the finish of the interval in comparison with 14.8% within the earlier quarter, a consensus of 14.6%.

The lender declared an interim dividend of €0.35 per share in comparison with €0.17 within the earlier yr, and the consensus anticipated a fee of €0.31.

Write to Elena Vardon at

Related Posts

Generac Holdings 2Q sales declined due to weak demand for residential products

China’s offshore banking 2Q internet S $1.71 billion vs. Internet S$1.28 billion > O39.SG

By BR Venkat Oversea-Chinese language Banking Corp.’s second-quarter internet revenue rose 34% year-over-year, helped by greater curiosity revenue. OCBC stated on Friday that third-quarter internet revenue was…

Meta begins blocking news in Canada - Google plans to do the same

Meta begins blocking information in Canada – Google plans to do the identical

Menlo Park, Calif. – Fb and Instagram’s dad or mum firm Meta META, Inc. -0.36% Makes good on its promise to dam information content material in Canada…

post share price |  Post Holdings Inc share price  (US: NYSE)

put up share value | Put up Holdings Inc share value (US: NYSE)

Put up Holdings Inc. Put up Holdings, Inc. As a holding firm for shopper packaged items. The corporate is concerned in retailer middle operation, refrigerated, meals service,…

Amazon beats forecasts for domestic e-commerce sales, AWS;  Stock jumps

Amazon beats forecasts for home e-commerce gross sales, AWS; Inventory jumps calmed investor fears with sturdy e-commerce and cloud gross sales, sending its shares up greater than 6% in after-hours buying and selling Thursday. Amazon AMZN, +0.55%…

Generac Holdings 2Q sales declined due to weak demand for residential products

Cocoa costs in Nigeria go up in Cross River, and go down in Osun

Posted by Obafemi Oreden Particular to the Dow Jones information journal IBADAN, Nigeria – Cocoa trades at 2.2 million Nigerian naira ($2,966) per metric ton in Nigeria’s…

Fitch's historic downgrade is illustrated in one chart

Fitch’s historic downgrade is illustrated in a single chart

The US authorities’s debt burden has skyrocketed over the previous decade, particularly throughout the coronavirus disaster. Credit score scores company Fitch on Tuesday pulled the set off…

Leave a Reply

Your email address will not be published. Required fields are marked *