ING Group : Q2 Recurring P&L items in line, CET1 lower, but they do mitigations in 2H24
>Conclusion: Recurring P&L items in line, CET1 lower but mitigations in 2H24 - In 2Q24 the main recurring P&L items were fully in line with our expectations, so these figures have no material impact on our future estimates. End 2Q24 the CET1 ratio was 20/30bp less than expected by model changes which increased the RWA, but ING mentioned that they will take an array of mitigating actions for this in 2H24. ING’s NII remains sensitive for short term interest rate changes...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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