ING Strong NII & credit costs; additional €1.5b SBB announced
Very strong NII, through masked by a shift to Other Income, combined with very low credit cost leads to a very strong quarterly result. The announcement of a new €1.5b underlines the capital return story of ING. Adjusting our numbers we come to a new TP of €16.ING Groep is a global financial institution based in the Netherlands. Co. is engaged in offering a wide range of retail and wholesale banking services to customers in over 40 countries across Europe, the Americas, Asia and Australia. In addition to the basic banking services of lending, payments and cash management and treasury, Co. provides tailored banking solutions in areas including corporate finance, commercial finance (factoring), equity markets and debt capital markets to help clients achieve their business goals. Co.'s operations are organized along five segments: Retail Netherlands; RetailBelgium: Retail Germany: Retail Other; and Wholesale Banking.
We are a financial services provider for several types of professional clients, each with distinct needs.
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