ING Group : Russia/Ukraine-effects: lower EPS22/23, smaller SBB, higher NII and costs
>Conclusion: Lower EPS22/23 by conflict, smaller SBB expected - As a result of the direct and indirect impacts of the Russia/Ukraine conflict we increased our loan loss impairment estimates for 2022 (from 17bp to 34bp of loans) and 2023 (from 24bp to 29bp). The YTD sharply increased interest rates made us increase our net interest income (NII) estimates by about +3% for 2022, 2023 and 2024. The well higher inflation results in an increase of our expense estimates for ...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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