ING : Positive for FY21 consensus earnings that ING qualifies for TLTRO3
>Conclusion: good for FY21 earnings that ING qualifies for TLTRO3 - ING qualified for TLTRO3 which was better than the market expected and in line with our expectations. As a result consensus has to increase its FY21 earnings for this reason by about 1.5% (or 4% if it would also qualify in H2), we do not have to change much in our FY NII. The bottom line earnings was higher for consensus because consensus did not have the TLTRO3 so much in Q1 (but in Q2) and loan loss...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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