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ING Germany boss expects only a small interest rate increase - financial expert analyzes the forecasts
ING Germany boss Nick Jue expects a small interest rate increase from the European Central Bank (ECB). He assumes that the increase will not be higher than 25 basis points. Despite a slump in new business, the bank has made more profits recently. In the first half of this year, ING Deutschland alone earned more than in the whole of last year with pre-tax earnings of 1.17 billion euros. The institute also recorded deposit inflows of 15.6 billion in the second quarter. However, some monetary politicians want to reduce central banks' interest payments to commercial banks, which will cost the industry around six billion euros per year...
ING Germany boss Nick Jue expects a small interest rate increase from the European Central Bank (ECB). He assumes that the increase will not be higher than 25 basis points. Despite a slump in new business, the bank has made more profits recently. In the first half of this year, ING Deutschland alone earned more than in the whole of last year with pre-tax earnings of 1.17 billion euros. The institute also recorded deposit inflows of 15.6 billion in the second quarter. However, some monetary politicians want to reduce central banks' interest payments to commercial banks, which will cost the industry around six billion euros per year...
ING Germany boss expects only a small interest rate increase - financial expert analyzes the forecasts
ING Germany boss Nick Jue expects a small interest rate increase from the European Central Bank (ECB). He assumes that the increase will not be higher than 25 basis points. Despite a slump in new business, the bank has made more profits recently. In the first half of this year, ING Deutschland alone earned more than in the whole of last year with pre-tax earnings of 1.17 billion euros. The institute also recorded deposit inflows of 15.6 billion in the second quarter. However, some monetary politicians want to reduce central banks' interest payments to commercial banks, which would cost the industry around six billion euros over the year.
According to a report by amp2.handelsblatt.com,
The small expected interest rate increase could have an impact on the market and the financial sector. Higher interest rates may make borrowers less inclined to borrow, which in turn could affect lending activity. If new business continues to decline, this could impact ING Germany's growth. In addition, reduced interest payments from central banks to commercial banks could lead to a decline in profits in the industry.
Read the source article at amp2.handelsblatt.com