ING Group : SBB less but more to come, Q1 earnings better, stable NII next few years
>Conclusion: SBB less but more to come, earnings better, stable NII next years - The announced SBB at the Q1 results was less than we expected, but it is quite likely that extra capital returns can come at the Q3 results. The 1Q23 results were higher than expected by lower loan losses, well higher other income and a somewhat better NII. The Q1 solvency was marginally better. For the NII going forward we continue to expect this to be quite stable the next few years whe...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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