ING Groep NV

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• DJ ING Up Over 6%, On Track for Largest Percent Increase Since November 2022 -- Data Talk, from 35 minutes ago by Dow Jones

  35 minutes ago by Dow Jones
  Companies Mentioned: ING
  
  ING Groep NV Sponsored ADR (ING) is currently at $16.99, up $1.06 or 6.65%
  
  --Would be highest close since April 9, 2024, when it closed at $17.03
  
  --On pace for largest percent increase since Nov. 3, 2022, when it rose 8.2%
  

• ING Groep's Q1 Earnings, Revenue Rise, from 1 hour ago by MT Newswires

  1 hour ago by MT Newswires
  Companies Mentioned: ING
  09:14 AM EDT, 05/02/2024 (MT Newswires) -- ING Groep (ING) reported Q1 earnings Thursday of 0.48 euro ($0.51) per share, up from 0.44 euro a year earlier. Three analysts polled by Capital IQ expected 0.42 euros. Revenue for the quarter ended March 3...

• DJ Trending: ING Groep Plans EUR2.5 Bln Share Buyback, Profit Beats Forecasts, from 2 hours ago by Dow Jones

  2 hours ago by Dow Jones
  Companies Mentioned: ING
  
  1203 GMT - ING Groep is among the most mentioned companies across news items over the past six hours, according to Factiva data, after the Dutch bank said that it plans to buy back up to 2.5 billion euros ($2.68 billion) of shares alongside a market-beating first quarter net profit. ING said that the share buyback was to bring down its common equity Tier 1 ratio toward its target of around 12.5% by 2025. For the first quarter of 2024, it reported a CET1 ratio--a key measure of balance-sheet strength--of 14.8%, in line with expectations. Net profit for the quarter was EUR1.58 billion ahead of expectations of a EUR1.45 billion result. The bank reiterated that it expects fee income to rise by 5% to 10% this year, with cost growth of around 3% and a return on equity of 12%. Shares are currently up 6.1% at EUR15.77 and are 16.55% higher for the year to date. Dow Jones & Co. owns Factiva. (ian.walker@wsj.com.)
  

• DJ ING Groep Shares Lifted by Quarterly Print, Fresh Buyback -- 3rd Update, from 3 hours ago by Dow Jones

  3 hours ago by Dow Jones
  Companies Mentioned: ING
  
  By Ian Walker and Elena Vardon
  
  ING Groep shares rose after the Dutch lender said it plans to buy back up to 2.5 billion euros ($2.68 billion) of shares and reported a first-quarter profit driven by income from fees and interest rates.
  

• DJ ING Groep to Buy Back EUR2.5 Bln of Shares to Boost CET1 Ratio -- 2nd Update, from 5 hours ago by Dow Jones

  5 hours ago by Dow Jones
  Companies Mentioned: ING
  By Ian Walker and Elena Vardon ING Groep shares rose in morning trade after the Dutch lender said that it plans to buy back up to 2.5 billion euros ($2.68 billion) of shares and reported a first-quarter performance lifted by interest rates. The bank said on Thursday that its net interest income for the three months ended March 31 was 3.825 billion euros ($4.10 billion). This represents a fall from the EUR4.01 billion it reported for the same quarter the previous year. Net profit for the quarter was EUR1.58 billion euros compared with EUR1.59 billion for the comparable period a year earlier and ahead of expectations of a EUR1.45 billion result. ING said that the buyback--which was in line with expectations--will run through to Oct. 29 and aims to bring down its common equity Tier 1 ratio toward its target of around 12.5% by 2025. For the first quarter of 2024, it reported a CET1 ratio--a key measure of balance-sheet strength--of 14.8%, in line with expectations. Ahead of the print, consensus for its 2025 CET1 ratio stood at 13.0%. ING said that the share buybacks will benefit its CET1 ratio by 77 basis points. Alongside the buyback the bank reported a fall in first-quarter net profit after net interest income dropped, and backed its full-year guidance. The bank reiterated that it expects fee income to rise by 5% to 10% this year, with cost growth of around 3% and a return on equity of 12%. Fee income rose 11% compared with the same period last year and 14% from the last quarter, with growth in retail driven by higher fee income for both daily banking and investment products, the bank said. Write to Ian Walker at ian.walker@wsj.com and to Elena Vardon at elena.vardon@wsj.com (END) Dow Jones Newswires May 02, 2024 05:59 ET (09:59 GMT)