ING Groep announced an increase in net profit for the quarter, which was lower than market estimates, while announcing a dividend distribution.
The Dutch bank showed a profit of 945 million Euros, compared to 727 million Euros a year ago.
Estimates spoke of net profits of 1.06 billion euros.
Net interest income increased to 3.37 billion euros from 3.34 billion euros, the bank said, noting that operating expenses for the period increased to 2.95 billion euros from 2.91 billion euros.
The bank’s capital adequacy ratio stood at 15.9% at the end of the period, higher than 15.5% a year ago.
The bank has announced the distribution of a dividend of 0.41 euros per share.
“Looking at 2022, ING is well-prepared to navigate the current operating environment, with stable capital reserves, a strong risk profile and a focus on execution,” said CEO Steven van Rijswijk.
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
