ING : Feedback from the road show: return to operational performance
>Neutral recommendation maintained - We found ING’s message broadly optimistic at our road shows with management (IR) in Vienna and Geneva. Over and above banking activity growth, the group’s priority is the rollout of its IT migration and the generation of synergies on associated costs. In terms of capital, the group has no capital surplus and has confirmed its dividend policy. Whilst Turkey is clearly a risk, it is manageable at group level. We have revised down ou...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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