By Ian Walker 
 

Dutch Bank ING Groep NV (INGA.AE) on Wednesday reported a 7.2% rise in first-quarter net profit, reflecting continued loan growth and lower risk costs.

The Dutch banking group made a net profit of 1.23 billion euros ($1.46 billion) compared with EUR1.14 billion a year earlier. Net interest income rose to EUR3.4 billion from EUR3.35 billion a year earlier.

The Amsterdam-listed company's fully loaded common equity Tier 1 ratio, a measure of financial stability, stood at 14.3% at March 31, compared with 14.5% at March 31, 2017.

Chief Executive Ralph Hamers said the bank is on track to achieve the EUR900 million cost-savings goal set as part of its 'Think Forward' strategy by 2021.

 

Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749

 

(END) Dow Jones Newswires

May 09, 2018 01:47 ET (05:47 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
ING Groep NV (EU:INGA)
Graphique Historique de l'Action
De Fév 2024 à Mar 2024 Plus de graphiques de la Bourse ING Groep NV
ING Groep NV (EU:INGA)
Graphique Historique de l'Action
De Mar 2023 à Mar 2024 Plus de graphiques de la Bourse ING Groep NV