ING Group released this morning its numbers for Q1 21. Net profit was 31% above expectations, driven by lower loan losses (expected) and higher net interest income (only driven by a higher contribution from TLTRO). The underlying numbers were rather below expectations even if the investment case remains intact with a high amount of capital to be paid back to shareholders in the next quarters as well as a decreasing cost/income ratio.
06 May 2021
Short-term disappointment, comforting in the mid to long-term
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Short-term disappointment, comforting in the mid to long-term
ING Group released this morning its numbers for Q1 21. Net profit was 31% above expectations, driven by lower loan losses (expected) and higher net interest income (only driven by a higher contribution from TLTRO). The underlying numbers were rather below expectations even if the investment case remains intact with a high amount of capital to be paid back to shareholders in the next quarters as well as a decreasing cost/income ratio.