- ING’s net income for the second quarter was €1.68 billion, exceeding the estimated €1.54 billion.
- Total income reached €5.70 billion, surpassing the forecasted €5.63 billion.
- Net interest income was slightly below expectations at €3.54 billion compared to the estimated €3.76 billion.
- Net fee and commission income came in at €1.12 billion, above the anticipated €1.09 billion.
- Pretax profit was reported at €2.37 billion, higher than the projected €2.26 billion.
- The risk-weighted assets stood at €335.8 billion, less than the expected €339.43 billion.
- Common equity Tier 1 ratio was 13.3%.
- The cost to income ratio matched estimates at 53.2%.
- Provision for loan losses totaled €299 million, considerably lower than the estimate of €354.5 million.
- Commercial net interest income was €3.77 billion, below the forecasted €3.82 billion.
- Other net interest loss amounted to €236 million, worse than the expected loss of €82.5 million.
- For the first half of the year, an interim dividend per share of €0.35 was declared.
- Analyst recommendations include 13 buys, 10 holds, and 2 sells.
A look at ING Groep NV Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 5 | |
| Growth | 4 | |
| Resilience | 3 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 3.8 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
According to Smartkarma Smart Scores, ING Groep NV is positioned well for the long term. With a top score in Dividend and strong scores in Value and Growth, the company shows promise in terms of providing steady returns and potential for expansion. However, its Resilience and Momentum scores are slightly lower, indicating some challenges in adapting to market changes and maintaining momentum. Overall, ING Groep NV‘s outlook appears positive, especially with its robust dividend offering and solid value and growth prospects.
ING Groep N.V., a global financial services provider, caters to individuals, businesses, and institutions with a range of services including banking, asset management, and insurance. With a widespread presence across the world, the company is well-positioned to leverage its diverse offerings and expansive reach to drive continued growth and profitability in the long run.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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