ING : Q4 earnings in line, No SBB yet but are expected at 1Q22 results
>Conclusion: Earnings in line, No SBB yet, trying to keep cost flat in 2022 - The 4Q21 results were in line with NII fully in line, expenses marginally higher but commission income marginally better. Further, they did not have the expected (€ 4bn) SBB yet and will do that at the 1Q22 results in May. This will be just before their CMD on 13 of June. They are trying to keep the cost EXCL. one offs/restructuring costs flat in 2022 vs 2021. Note we believe that NII will s...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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