ING : Q2 recurring P&L items in line, future VAT cost higher, € 0.93 back in Q4
>Conclusion: Q2 recurring P&L items in line - For 2Q21 the main P&L items being the net interest income and expenses were in line with expectations. The net commission income was better than expected. On future expenses the € 125m higher recurring VAT costs has to be put in our ING model which is 2% vs the profit base. On the capital return of € 0.93 likely in 4Q21 it good that they plan to pay the 2019 and 2020 + 2021 interim dividends out in 4Q21 but it was expected...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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