ING Group : Recurring P&L items in line, somewhat higher SBB’s going forward
>Conclusion: Recurring P&L items in line with our estimates, solvency better - In 2Q23 the bottom line earnings was somewhat higher than we expected, but the recurring P&L items were all in line with our expectations. End 2Q23 the solvency was better than expected driven by again positive RWA/loan development, resulting in a somewhat higher share buy back (SBB) indication the coming two years. We assume that the SBB each six months will be € 2bn (up from our earlier e...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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