ING : Q4 results better than expected, future estimates NII & cost unchanged
>Conclusion - The 4Q20 net profit was better than expected mostly due to lower loan losses and better commission income. For Net interest income and costs excl. volatile items that was quite in line so we do not have to change our future estimates for cost and NII in any material way. For net commission income we have to increase estimates somewhat as that was better. The TLTRO3 qualification (yes or no EUR 300m NII to be booked in 2021) is too early to tell, so that ...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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