ING 3Q Net Profit Leaped
31 Octobre 2019 - 7:50AM
Dow Jones News
By Ian Walker
ING Groep NV (INGA.AE) on Thursday reported a 73% rise in net
profit for the third quarter of the year after booking a 775
million-euro ($861.8 million) charge last year relating to a fine
from the Dutch Public Prosecution Service.
The Dutch lender made a net profit of EUR1.34 billion for the
quarter, up from EUR776 million for the same period last year but
lower than consensus forecasts of EUR1.37 billion, taken from
FactSet and based on three analysts' forecasts.
Underling pretax profit--one of the bank's preferred metrics,
which strips out exceptional and other one-off items--was EUR1.91
billion compared with EUR2.12 billion for the third quarter of
2018. Consensus forecast was EUR1.91 billion, taken from FactSet
and based on three analysts' forecasts.
Net interest income rose 0.8% to EUR3.53 billion.
ING's common equity Tier 1 ratio--a key measure of balance sheet
strength--stood at 14.6% at Sept. 30, from 14% at Sept. 30,
2018.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
October 31, 2019 02:35 ET (06:35 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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