ING Q1 Results: Gradually Reverting to Normal
ING Groep N.V. (ING or the Group) reported net profit of EUR 1,005 million in Q1 2021, up 50% year-on-year (YoY), driven by higher revenues and significantly lower loan loss provisions. Overall, the Group's ROE (using average IFRS-EU shareholders' equity and on a 4-quarter rolling average) was 5.4% in Q1 2021, and 7.8% for the quarter on a regular ROE basis. Management has re-iterated its ROE ambition of 10-12%, as revenues are expected to further benefit from the TLTRO III programme, as well as from negative rates being charged to customers, loan and fee growth, continued discipline on controllable expenses, and the intention to reduce capital over time. Digitalisation and ESG remain core priorities for the Bank.
DBRS Morningstar is a global credit ratings business with 700 employees in eight offices globally. DBRS and Morningstar Credit Ratings are committed to empowering investor success, serving the market through leading-edge technology and raising the bar for the industry.
Together, we are the world’s fourth largest credit ratings agency and a market leader in Canada, the U.S. and Europe in multiple asset classes. We rate more than 2,600 issuers and 54,000 securities worldwide and are driven to bring more clarity, diversity and responsiveness to the ratings process. Our approach and size provide the agility to respond to customers’ needs, while being large enough to provide the necessary expertise and resources. For more details visit us at dbrs.com.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.