ING: net income of E1,880m in Q3 2024

(CercleFinance.com) - In Q3 2024, total revenues reached E5,909m up 3.
4% sequentially and +1.1% on Q3 2023.

Fee and commission income was up 11% y-o-y, exceeding E1bn, with significant growth in retail and wholesale banking.

The group reports pre-tax earnings of E2,668m in Q3 2024, with a four-quarter average return on equity of 13.8%.

Net income was E1,880m, compared with E1,982m in Q3 2023 and E1,780m the previous quarter.

The number of mobile primary customers - primary customers with mobile interaction via the app or website - rose by 189,000 to 13.9 million, out of a total of over 39 million customers.

We continue to take steps to converge our CET1 capital ratio towards our target level of around 12.5%. The share buyback program announced in May 2024 has been completed, and today we are announcing a forthcoming distribution of 2.5 billion euros, which will have a pro forma impact of 76 bp on our CET1 ratio, ING's CEO said.


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