Report
Derya Guzel
EUR 100.00 For Business Accounts Only

We Are Adjusting ING's ADR FVE to Accommodate Changes in USD/EUR Foreign Exchange

Turkey's rapid economic growth was fuelled by a surge in credit, and the recent collapse in the value of the lira threatens to topple this house of cards. Banco Bilbao Vizcaya Argentaria, Unicredit, ING, and BNP Paribas respectively derive 14%, 10%, 5%, and 3% of their profits from Turkey, which is at risk.
Our base-case scenario is that the Turkish economy goes through a phase of painful rebalancing during which it weans itself from its reliance on foreign funding. Turkish banks' profitability ...
Underlying
ING Groep NV

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.

Provider
Morningstar
Morningstar

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.

Analysts
Derya Guzel

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