ING 4Q Net Profit Missed Market Views
February 03 2022 - 1:56AM
Dow Jones News
By Sabela Ojea
ING Groep NV reported Thursday a rise in net profit for the
fourth quarter of 2021, which came in below market expectations,
and declared a final dividend.
The Dutch bank posted a net profit of 945 million euros ($1.07
billion), compared with EUR727 million a year earlier.
It had been expected to post a net profit of EUR1.06 billion,
according to FactSet and based on four analysts' estimates.
Net interest income rose to EUR3.37 billion from EUR3.34
billion, the bank said, noting that operating expenses for the
period grew to EUR2.95 billion from EUR2.91 billion.
ING's common equity Tier 1 ratio--a key measure of balance sheet
strength--was 15.9% at the end of the period, up from 15.5% a year
earlier, it said.
The board has declared a final dividend of EUR0.41 a share.
"Looking ahead to 2022, ING is well prepared to navigate the
current operating environment, with solid capital buffers, a strong
risk profile and a focus on execution," Chief Executive Steven van
Rijswijk said.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
February 03, 2022 01:41 ET (06:41 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
ING Groep NV (EU:INGA)
Historical Stock Chart
From Aug 2024 to Sep 2024
ING Groep NV (EU:INGA)
Historical Stock Chart
From Sep 2023 to Sep 2024