ING: Q3 net income up 73%
(CercleFinance.com) - ING shares are is up nearly 2% in Amsterdam after the banking group reported Q3 net profit of 1.
37 billion euros, up 73.5% y-o-y, with taxable profit which is up 59.8% at 1.92 billion euros.
The Dutch bank saw its fee income grow by 20%, while net interest income was resilient, operating expenses remained under control and its cost of risk was low, meaning an all-round A-OK.
The group said that it continued growth in mortgage lending, while demand for corporate loans was influenced by the economic effects of the Covid pandemic.
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