ING : Good Q4 results, NII pressure continuing going forward, c. 12% cash return
>Conclusion: - The 4Q20 results were better than expected by low loan losses and higher commission income. We keep our future NII and operating expenses outlook unchanged, whereby we expect a -2.5% NII decline to € 13.25bn in 2021 and a flat costs excl. levies and one-offs of € 9.37bn. Like at most banks the Solvency ratios are good. Similar as at KBC we also expect for ING a cash return to shareholders of about 12% in a year time, being back end loaded. As a result ...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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