ING : Good Q4 profit, SBB starting earlier, maybe cost inflation guidance
>Conclusion: € 1.1bn net profit by no loan losses - For 4Q21, we expect ING to report an underlying net profit of € 1.11bn. Given the large government support actions and sharply rising NL house prices we expect again almost no loan losses in Q4. We expect a stable net interest income (NII) excl. TLTRO3 and Financial Markets. The Q4 commission income is likely to be good again. The expenses excluding regulatory costs are likely to be somewhat elevated in Q4 due to the...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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