ING : A Q3 2019 which does not exactly reassure
>Operating level: the equation is becoming more complicated - Net profit = € 1.34bn (+1% vs consensus., -11 y-o-y) / underlying PBT = € 1.91bn (+2% vs consensus, -10% y-o-y) – Q3 illustrates, in our view, ING’s growing problem at the operating level, i.e. pressure on the top line (interest rates and on costs (KYC, etc.) in a context of a particularly low cost of risk that cannot be extrapolated in the medium term.‘Core’ revenues (NII + NCI) = € 4.35bn (+3% vs con...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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