ING Group : Earnings in line, quality touch light, NII improving in H2, no SBB
>Conclusion: Earnings in line, quality touch light - The 2Q22 earnings were in line with expectations. The quality of the earnings was marginally less with the net interest income in line, expenses somewhat higher by one offs, and commission somewhat less by less deal flow. They see the NII improving in 2H22 which is logical with rising (ECB) rates and not yet paying back TLTRO. There was no extra cap return announced. Going forward important remains future loan losse...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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