ING: Berenberg remains a buyer after investor day

(CercleFinance.com) - Berenberg maintains its "buy" rating on the ING share, with a target price of 15 euros, after the Dutch financial group hosted an investor day this week.


While the group did not change its financial targets, the day provided helpful insights, the broker said in a note.

Anti-money laundering-related cost pressures appear lower than many had feared, Berenberg said, and financial risk is under control.

"Rising regulatory costs have made the cost/income ratio target harder to achieve, but there remains significant scope for efficiency gains," it wrote in the note.

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