Progress on share buyback programme Progress on share buyback programme ING announced today that, as part of our €2.0 billion share buyback programme announced on 31 October 2024, in total 5,545,654 shares were repurchased during the week of 11 November 2024 up to and including 15 November 2024. The shares were repurchased at an average price of €14.88 or a total amount of €82,507,552.62. For detailed information on the daily repurchased shares, individual share purchase transactions and weekly reports, see the ING website at . In line with the purpose of the programme to reduce the sha...
ABN AMRO Bank posts net profit of EUR 690 million in Q3 2024 ABN AMRO Bank posts net profit of EUR 690 million in Q3 2024 13 November 2024 Q3 Key messages Strong quarterly results: Net profit of EUR 690 million and 11.6% return on equity, driven by improved net interest income, strong fees and net impairment releasesContinued mortgage portfolio growth: Supported by an increase in new clients, mortgage book grew by EUR 1.6 billionImproved net interest income: Benefitted from better Treasury result driven by the favourable interest rate environment ...
Progress on share buyback programme Progress on share buyback programme ING announced today that, as part of our €2.0 billion share buyback programme announced on 31 October 2024, in total 7,704,055 shares were repurchased during the week of 4 November 2024 up to and including 8 November 2024. The shares were repurchased at an average price of €15.35 or a total amount of €118,240,205.76. For detailed information on the daily repurchased shares, individual share purchase transactions and weekly reports, see . In line with the purpose of the programme to reduce the share capital of ING, t...
With 2 changes in our Dynamic Top Pick list (we add Azelis and we remove Solvay) we maintain a defensive stance on the market for 2H24. The long anticipated interest rate cuts by central banks have finally started. The Trump election victory in the US does not bode well for European stocks as he favours a protectionist course. Although industrial companies with a US base could actually benefit. Cleantech names with exposure to the US could also suffer (unless owned by E.Musk). We expect the US ...
Progress on share buyback programme Progress on share buyback programme ING announced today that, as part of our €2.0 billion share buyback programme announced on 31 October 2024, in total 4,016,274 shares were repurchased during the week of 31 October 2024 up to and including 1 November 2024. In line with the purpose of the programme to reduce the share capital of ING, the ordinary shares were repurchased at an average price of €15.64 for a total consideration of €62,798,086.93. To date approximately 3.14% of the maximum total value of the share buyback programme has been completed. F...
>3Q24 NII less by treasury volatility and Other income better - The 3Q24 underlying net interest income (NII) was below our expectations by volatile Treasury results. We reduced our estimated underlying NII for FY24 and FY25 somewhat. The Q3 expenses were in line with expectations and will continue to grow mid-single digit in 2025. End Q3 the pro forma CET1 ratio was 13.5% in line with our expectations, and with one year of SBB’s they can bring their CET1 ratio down t...
>Conclusion: Q3 NII less than expected by treasury, rest in line - For Q3 the net interest income was less than expected by adverse treasury results, so that the consensus has to reduce their underlying FY24 NII somewhat. The other recurring P&L items were in line with expectations like commission income and expenses. No change in our view on ING Group, Neutral.Q3 net interest income below expectations, NII consensus FY24 too high - In 3Q24 net intere...
ING announces shareholder distribution of up to €2.5 billion ING announces shareholder distribution of up to €2.5 billion ING announced today an additional shareholder distribution of up to €2.5 billion. The distribution consists of a share buyback programme for a maximum total amount of €2 billion and a cash dividend payment of €500 million. The purpose of the additional distribution is to converge our CET1 ratio towards our target of around 12.5%. ING Group’s CET1 ratio was 14.3% at the end of the third quarter of 2024, which is well above the prevailing CET1 ratio requirement of 10.71...
ING posts 3Q2024 net result of €1,880 million, supported by commercial growth and strong income ING posts 3Q2024 net result of €1,880 million,supported by commercial growth and strong income 3Q2024 profit before tax of €2,668 million with a four-quarter rolling average return on equity of 13.8% • Resilient net interest income, supported by volume growth in lending and deposits • Fee income increasing 11% year-on-year, surpassing €1 billion, with significant growth in both Retail and Wholesale Banking • Increase of 189,000 mobile primary customers and strong growth in mortgages •...
ABN AMRO: NLFI selling down to 30% stake, outlook for below 15%. ASML: 3Q24 results – ouch, that hurts. Gimv: Linking Belgian brewery craftmanship with Dutch commercial spirit. Just Eat Takeaway.com: No order growth yet. PostNL: New CLAs for PostNL employees and for Saturday deliverers
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