ING: underlying net profit up, clients and loan grow

(CercleFinance.com) - ING, the biggest financial group in the Netherlands, reported a 3% rise in second-quarter underlying net profit on Thursday, with the group winning over new customers, and increasing its lending to them.


The bank reported an underlying net result of 1.44 billion euros over the past quarter, up from 1.40 billion euros a year earlier.

CEO Ralph Hamers said the group's global customer base now reaches 38.2 million, of which 12 million are primary customers.

ING also posted underlying pre-tax profit of just over 2 billion euros, reflecting "well-diversified loan growth, solid net fee and commission income, and low level of risk costs," it said.

ING announced an interim dividend of 0.24 euro per share for the first half of 2018, equal to the interim dividend paid over the first half of 2017.

Its shares are currently down 0.4% on Euronext Amsterdam after this report.

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