2/6/2020, 7:09 AM (Source: TeleTrader)
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ING's net income at €4.4B in Q4

Financial services company ING Group reported on Thursday its total underlying net income stood at €4.43 billion in the last quarter of 2019, decreasing 1.4% compared to the same time the year before, with the gross result dropping 8.7% to €1.76 billion. Net results per share went down from €0.33 to €0.22 in the same period.

The company booked total profit of €18.3 billion in the past year, which is 1.2% more year-on-year. Gross result decreased by 2.8% to €7.95 billion from 2018's €8.18 billion, while the net results per share for the full-year 2019 stood at €1.23, showing an increase from the previous result of €1.21.

CEO of ING Group Ralph Hamers said: "Looking back at 2019, we see a year of solid commercial performance despite the challenging rate environment, geopolitical uncertainties and an increasingly complex and demanding regulatory environment. The fourth quarter of 2019 proved challenging," adding: "I'm proud of our commercial performance as pricing discipline and growth helped counter the pressure of negative interest rates."

Baha Breaking the News (BBN) / NL