ING Reports Solid Third-Quarter Results; Invests in Digital and Cost-Cutting Initiatives
ING reported solid third-quarter results, and we plan to maintain our $14/EUR 13 fair value estimate and no-moat rating. We consider the bank to be one of the better-positioned banks within our coverage in terms of the transition toward digital and mobile banking, as well as in terms of exposure to higher-growth European banking systems. Underlying bank results improved 24% from last year’s levels, to EUR 1.3 billion, helped by an 8% increase in net interest income due to both volume and margin ...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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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