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ING : THE STOCK FALLS AFTER AN UNSURPRISING 4TH QUARTER

The title ING shows Thursday the largest drop in the Euro STOXX 50 index after a fourth-quarter without much brilliance on the part of the Dutch financial group.

ING : THE STOCK FALLS AFTER AN UNSURPRISING 4TH QUARTER

Over the three months to the end of December, its group net income stood at 945 million euros, against 727 million a year ago and a consensus of financial analysts of 984 million.

Its net interest income – that is to say the difference between what the establishment pays for deposits and what it receives on loans – increased by 0.9% to 3.37 billion. euros, a performance in line with expectations.

Provisions for bad debts also increased, to 346 million euros against 208 million a year earlier.

Its operating expenses also increased to 2.95 billion euros over the quarter, against 2.91 billion euros a year earlier, an increase of 1.1%.

Looking to 2022, ING says it is 'well prepared to face the current environment thanks to its robust capital reserves, its solid risk profile, and its focus on operational matters.

The title ING fell despite everything by 4.5% Thursday morning, penalized by profit-taking after a solid start to the year. The action has still gained 5.5% since January 1.

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