ING Group Q220. Adjusted (for goodwill impairment) the gross result was above expectations, again driven mostly by other income. Loan losses were above expectations (management expects lower provisioning in H2 vs H1 which would be coherent with expectations). At 15bps, the CET1 ratio was 100bps above our expectations and management will update its capital policy during Q320 (possible change in the dividend policy and buy-backs).
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Focus on Q320, capital is key
ING Group Q220. Adjusted (for goodwill impairment) the gross result was above expectations, again driven mostly by other income. Loan losses were above expectations (management expects lower provisioning in H2 vs H1 which would be coherent with expectations). At 15bps, the CET1 ratio was 100bps above our expectations and management will update its capital policy during Q320 (possible change in the dividend policy and buy-backs).