ING Group: net income soars 271% in Q1
(CercleFinance.com) - ING Group has reported net profit of E1.
59bn (+271%) for Q1 2023, well ahead of the E429m posted in this period a year ago, along with pre-tax profit that is up 251% at E2.34bn.
The Dutch bank explains that it benefited from significant growth in revenues, with a positive impact rising interest rates. Its core customer base also increased by 106,000 and net core deposits by E1.3bn.
The financial institution also highlights modest risk costs, reflecting excellent asset quality, as well as a strengthened CET1 solvency ratio of 14.8% at the end of March (+0.3 point over three months).
Copyright (c) 2023 CercleFinance.com. All rights reserved.
59bn (+271%) for Q1 2023, well ahead of the E429m posted in this period a year ago, along with pre-tax profit that is up 251% at E2.34bn.
The Dutch bank explains that it benefited from significant growth in revenues, with a positive impact rising interest rates. Its core customer base also increased by 106,000 and net core deposits by E1.3bn.
The financial institution also highlights modest risk costs, reflecting excellent asset quality, as well as a strengthened CET1 solvency ratio of 14.8% at the end of March (+0.3 point over three months).
Copyright (c) 2023 CercleFinance.com. All rights reserved.