ING Group : Higher future NII guidance, higher SBB, Q3 recurring earnings in line
>Higher future NII guidance, SBB higher than expected, Q3 earnings in line - Most positive is that ING Group increased its future net interest income guidance based on the higher interest rates and low deposit elasticity. They have not yet given higher future cost guidance driven by inflation as the CLA negotiation still have to come. The SBB of € 1.5bn is higher than expected (consensus about € 0.8bn). The 3Q22 results were in line with expectations, with NII margina...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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