ING realised a mixed Q1 as earnings were hit by provisions made in relation to its Russian exposure, to which net exposure declined to €4.6bn. Total income also saw a slight decline as the group’s NII suffered from a lower TLTRO impact as well as an impairment on its stake in its Thai subsidiary. The distribution policy in response to the excess capital situation looks undisturbed by the group’s heightened cost of risk, as an additional €1.25bn will be distributed through dividends and buy-backs ....
09 May 2022
Mixed Q1 on Russia provisions, targets maintained
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Mixed Q1 on Russia provisions, targets maintained
ING realised a mixed Q1 as earnings were hit by provisions made in relation to its Russian exposure, to which net exposure declined to €4.6bn. Total income also saw a slight decline as the group’s NII suffered from a lower TLTRO impact as well as an impairment on its stake in its Thai subsidiary. The distribution policy in response to the excess capital situation looks undisturbed by the group’s heightened cost of risk, as an additional €1.25bn will be distributed through dividends and buy-backs ....