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5/6, 7:04 AM (Source: TeleTrader)
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ING's net result soars 50% to €1B in Q1

ING Groep N.V. announced on Thursday that its net result in the first quarter of 2021 jumped 50% year on year to €1 billion and result before tax was up 43.9% to €1.5 billion.

The Dutch bank's total income amounted to €4.7 billion, climbing 4.2% compared to the same period a year earlier. Meanwhile, net fee and commission income rose 9.1% to €854 million.

"ING delivered a strong performance in the first quarter of 2021. The sharp rebound in net profit compared to the year-earlier period was driven by a good increase in fee income and lower risk costs," CEO Steven van Rijswijk stated.

Breaking the News / NP