ING Groep N.V. (ING) Tops Q1 EPS by 2c; offers outlook

ING Groep N.V. (NYSE: ING) reported Q1 EPS of EUR0.48, EUR0.02 better than the analyst estimate of EUR0.46. Revenue for the quarter came in at EUR5.58 billion versus the consensus estimate of EUR5.81 billion.

OUTLOOK

Based on current assumptions and scenarios, total income in 2024 to remain strong in a positive rate environment albeit somewhat lower than in 2023. Our aim is to increase fee
income by 5-10%. Based on the current outlook, a total cost growth of around 3% (excluding incidental items) is foreseen.
The CET1 ratio is expected to converge towards our ~12.5% target by 2025. Return on equity expected of >12%.

For earnings history and earnings-related data on ING Groep N.V. (ING) click here.

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