ING Group : Good Q3 result, NII rising somewhat, € 2bn SBB and more to come
>Conclusion: Good Q3 result, NII rising somewhat, € 2bn SBB and more to come - For 3Q23, we expect a net profit of € 2bn with still moderate loan losses. For 3Q23 we expect a further increase of the net interest income (NII) by rising deposit margins as a result of higher interest rates, partly mitigated by rising deposit competition. The 3Q23 commission income is likely to rise somewhat qoq. Further, for the expenses we expect a small qoq growth given the continuing ...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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