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11/4/2021, 7:04 AM (Source: TeleTrader)
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ING net result surges 74% to €1.4 billion in Q3

ING Groep N.V. announced on Thursday that its net result in the third quarter of 2021 amounted to €1.4 billion, soaring 74% compared to the same period in 2020. Result before tax jumped 60% to €1.9 billion.

The Dutch bank's total income amounted to €4.6 billion, climbing 8% year on year. Meanwhile, cost/income ratio stood at 57.8%.

"I’m pleased with our results in the third quarter," CEO Steven van Rijswijk stated. "We saw continued lending growth in mortgages, whereas loan demand from businesses was influenced by the economic effects of the Covid pandemic. Even so, our commercial lending margins were slightly higher and we saw strong fee growth in account package fees, investment products and lending," he added.

Baha Breaking News (BBN) / NP