2/3, 7:02 AM (Source: TeleTrader)
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ING net result up 30% to €945 million in Q4

ING Groep N.V. announced on Thursday that its net result in the fourth quarter of 2021 amounted to €945 million, rising 30% compared to the same period in 2020. Result before tax rose 27.2% to €1.3 billion. The Dutch bank's total income amounted to €4.6 billion, climbing 11% year on year. Meanwhile, the cost/income ratio stood at 63.7%.

In 2021 its net result was €4.8 billion, climbing 92.2%, while result before tax rose 78.1% to €6.8 billion. Total income was €18.5 billion for the same period, and the cost/income ratio stood at 60.5%.

"Despite the challenging conditions impacting customers, colleagues, and society – from the ongoing pandemic to supply-chain pressures, rising energy prices, and inflation – we achieved good results. I'm encouraged by increased lending volumes and strong fee income growth in the final quarter of 2021, a sign of growing confidence in the economy as the world seeks ways to live with the coronavirus. Both of these contributed to a 10.9% increase in total income compared to the same quarter in 2020," CEO Steven van Rijswijk stated.

Baha Breaking News (BBN) / JG