ING Group presented its Q4 21 earnings today. The results showed considerable growth in revenue thanks to a jump in net commission income. NII contributed only a bit despite growing volumes, with a one-off reclassification deteriorating the net interest margin. Expenses displayed slow growth but were still higher than expected and LLPs increased unexpectedly due to scenario updates. The excess capital situation strengthened as capitalisation improved. Long-term financial targets were maintained.
