ING Group : Underlying net interest income less than expected, Q3 SBB higher
>Conclusion: Underlying NII less, SBB higher, future SBB later than we expected - The underlying net interest income (NII) was less than we expected by lower deposit margins. The expenses were higher than expected. The SBB was € 0.5bn higher than we expected (€ 2.5bn vs expected € 2.0bn), but the outlook/timing on new capital returns/SBB is later than we expected. The low fiscally paid in capital per share would mean that SBB will be relatively higher taxed at ING fro...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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