ING Group : Lower Q1 profit by Russia-Ukraine, expect € 2bn SBB and lower CET1 ratio
>Conclusion: € 540m net profit by Russia-Ukraine provisions - For 1Q22, we expect ING to report a lower underlying net profit of € 540m driven by higher loan loss provisions from the Russia-Ukraine conflict, rising inflation, sanctions and rating downgrades in Russia. For 1Q22 we assume elevated loan losses of about 51bp of loans. We expect a small uptick of the net interest income (NII) qoq. The Q4 commission income is likely to be good mainly by retail by further cu...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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.