ING : Q4 earnings in line, No SBB yet but at 1Q22 results and two sides of inflation
>Conclusion: Earnings in line, No SBB yet, trying to keep cost flat in 2022 - The 4Q21 pre-provisioning results were in line with expectations, and the bottom line was marginally less than expected by -good- prudence provisions given the macro volatility. It was a small setback that ING did not yet announced the SBB/capital return at the FY21 results. This is likely to be announced at the Q1 results on 6 May. In our model we pushed forward a € 4bn SBB three months sta...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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