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ING Groep: Net interest income fell in the first quarter
"ING Groep keeps net profit stable - ING shares rise 7.48 percent in Amsterdam. Dutch bank confirms outlook for 2024 despite decline in net interest income. Net commission income increases by 11 percent. Costs rise by 3 percent. Return on equity at 12 percent."
ING Groep: Net interest income fell in the first quarter
ING Groep recorded a decline in net interest income in the first quarter. Despite this, the Dutch bank managed to keep net profit stable and confirmed its outlook for 2024. Net profit was 1.58 billion euros, almost at the same level as the previous year. While net interest income fell to 3.82 billion euros, net commission income increased by 11 percent.
For the current year, the bank expects net commission income to grow in the range of 5 to 10 percent, while costs are expected to rise by around 3 percent. The return on equity is estimated at 12 percent. ING shares reacted positively on the stock market and temporarily rose by 7.48 percent to 15.974 euros in Amsterdam.
The ING Groep is one of the leading financial service providers in Europe and offers a wide range of banking and financial products. With a strong presence on the market, the company has established itself as a reliable partner for private and business customers in recent years. Through continuous investment in technology and digital innovation, ING Groep has strengthened its position in the online banking sector and continues to grow. With a clear strategy and a stable financial model, the ING Groep remains well positioned even in a challenging economic environment.