ING: stock up after FY results announced
(CercleFinance.com) - The ING Group share is up 4% in Amsterdam on Friday, with the Dutch banking group reporting 2020 earnings that were almost halved (-48%) at 2.
48 billion euros, although they seemed to pick up in Q4, having fallen by just 17.4% to 727 million euros.
ING said that the effects of the Covid-19 pandemic and lockdowns were clearly visible in a slowdown in loan demand, in addition to an increase in net customer deposits.
Benefiting from a strengthened CET1 ratio of 15.5%, ING will propose an interim dividend of 0.12 euro for Q4 2020, and intends to making further payouts after the end of September 2021, based on the ECB's recommendations.
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48 billion euros, although they seemed to pick up in Q4, having fallen by just 17.4% to 727 million euros.
ING said that the effects of the Covid-19 pandemic and lockdowns were clearly visible in a slowdown in loan demand, in addition to an increase in net customer deposits.
Benefiting from a strengthened CET1 ratio of 15.5%, ING will propose an interim dividend of 0.12 euro for Q4 2020, and intends to making further payouts after the end of September 2021, based on the ECB's recommendations.
Copyright (c) 2021 CercleFinance.com. All rights reserved.