ING: stock down after Q1 results

(CercleFinance.com) - ING shares are down about 2% in Amsterdam today, despite the bank reporting a net profit that increased by about a half to 1 billion euros for the first quarter of 2021, with revenues up 4.
2% to 4.7 billion euros.

The first quarter of 2021 presented a low level of risk costs. Expenses were under control, but included some ancillary costs due to the restructuring, the Dutch financial institution said.

ING also says its net customer deposits increased by 8.1 billion euros and that its core customer base remained stable at 13.8 million, reflecting the lingering effects of the Covid-19 pandemic and related restrictions.


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