ING Group : New revenue and cost guidance no effect on estimates, Q4 marginally better
>Conclusion: Q4 some better than consensus, no est. changed by new guidance - The 4Q22 earnings were somewhat better than consensus but for us it was in line. The new revenue guidance for 2023 and 2025 will not result in material estimate changes. Cost guidance 2023 is marginally higher than expected but is not clear how much new CLA agreement is included. We keep our Neutral recommendation.New revenue and cost guidance not resulting in material estima...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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