Core Viewpoint - ING Groep N.V. is facing headwinds in business growth due to changing interest rates, which has impacted its premium valuation and overall investment attractiveness in the European banking sector [2][4][7] Financial Performance - In Q2 2024, ING's net interest income (NII) was €3.8 billion, a decline of 5.7% year-over-year, contributing to an overall revenue decrease of 0.7% to €5.7 billion [5][6] - The bank's net interest margin (NIM) has been declining, dropping to 148 basis points in Q2 2024 from its peak in Q3 2023, reflecting the pressure from a downward interest rate environment [4][5] - Operating expenses increased by 8.5% year-over-year to €2.8 billion, driven by higher staff and marketing costs, leading to a higher cost-to-income ratio of 49.8% in Q2 2024 [5][6] Outlook and Guidance - For the full year 2024, ING has slightly raised its revenue guidance to over €22 billion, indicating confidence in maintaining stable NII while expecting fees and other income to drive growth [5][6] - The bank's return on equity (ROE) declined to 14.5% in Q2 2024, with expectations of further decline to around 10-11% in the coming quarters due to lower revenues and increasing costs [6][7] Capital and Dividend Policy - At the end of Q2 2024, ING's CET1 capital ratio was 14%, allowing for continued capital returns to shareholders through dividends and share buybacks, although the interim dividend remained unchanged at €0.35 per share [6][7] - The total dividend related to 2024 earnings is expected to be around €1.10 per share, maintaining a forward dividend yield of close to 7%, appealing to income-oriented investors [6][7] Valuation - ING is currently trading at 1.02x book value, which is a premium compared to its historical valuation of about 0.75x and higher than peers like ABN AMRO and Lloyds Banking Group, suggesting it may be slightly overvalued [6][7]

>>> (all 105 OOO L anania Dogo COLO PA (9)) arion 635 ((GD) 0 09 - 0 105 ത്തതി anania Dogo a some (SD)DA 100 Ernest Hoffman Ernest Hoffman is a Crypto and Market Reporter for Kitco News. He has over 15 years of experience as a writer, editor, broadcaster and producer for media, educational and cultural organizations. Ernest began working in market news in 2007, establishing the broadcast division of CEP News in Montreal, Canada, where he developed the fastest web-based audio news service in the world and pr ...

Below, we take a look at ING Groep (ING) , a company that currently holds a Momentum Style Score of B. We also talk about price change and earnings estimate revisions, two of the main aspects of the Momentum Style Score. Set to Beat the Market? A good momentum benchmark for a stock is to look at its short-term price activity, as this can reflect both current interest and if buyers or sellers currently have the upper hand. It is also useful to compare a security to its industry, as this can help investors pi ...

WATE II I LIF II/ IAN II 7 107 U III Ernest Hoffman is a Crypto and Market Reporter for Kitco News. He has over 15 years of experience as a writer, editor, broadcaster and producer for media, educational and cultural organizations. Ernest began working in market news in 2007, establishing the broadcast division of CEP News in Montreal, Canada, where he developed the fastest web-based audio news service in the world and produced economic news videos in partnership with MSN and the TMX. He has a Bachelor's de ...

MIAMI and NEW YORK, June 25, 2024 /PRNewswire/ -- Lafayette Square USA, Inc. ("Lafayette Square"), a business development company, announced today that it has entered into a new hybrid credit facility with ING Capital LLC ("ING"). The facility will be secured by a combination of Lafayette's Square's portfolio and the unused capital commitments of its investors and will support Lafayette Square's direct lending activities, with a primary focus on first lien senior secured loans. Along with financing, Lafayet ...

Financial Performance - ING Group's lending growth is in line with expectations, and the full-year impact from accounting asymmetry is assumed to be stable[1] - Net Interest Income (NII) for 2024 is expected to be at the upper end of the previously disclosed range[1, 9] - The company reported resilient net interest income from lending and liabilities, with margins holding up well[20, 24] - Net core lending grew by €4.2 billion, driven by Retail Banking (mortgages) and Wholesale Banking (capital efficiency)[5] - Net core deposits increased by €13.5 billion[5] - Net fee and commission income increased by 11% year-over-year in 1Q2024, exceeding the target range[36, 53] Customer Growth and Strategy - The company added 99,000 primary customers and is on track to reach 17 million primary customers by the end of 2025[5] - ING Group mobilized €24.7 billion in sustainable volume in 1Q2024[12] - 62% of customers are mobile-only users[10] Capital and Shareholder Returns - A €2.5 billion share buyback program was announced, backed by strong capital generation[34] - The pro forma CET1 ratio is 14.1%[34] - The company has €5 billion CET1 capital in excess of the target of approximately 12.5% by the end of 2025[34] Risk and Regulatory - Risk costs were €258 million, representing 16 bps of average customer lending, which is below the through-the-cycle average of approximately 25 bps[67] - The CET1 ratio increased to 14.8%, driven by strong capital generation[72, 73] - Regulatory costs decreased year-on-year by 32% as no contribution is required to the SRF in the eurozone in 2024[55]

ING Groep (ING) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change. Individual investors often find it hard to make decisions based on rating upgrades by Wall Street analysts, since these are mostly driven by subjective factors that are hard to see and measure in real time. In these situations, the Zacks rating system comes in handy be ...

2000 Portifica C -2 De 3 CHILDERS LOLA T 5 HE 2 = 10.00 ati 197 2000 Portifica G 2 k 23 CHILD PERSONAL OR D K HE 2 = N - 3 3 8 5 (e 2 11 Share Ernest Hoffman is a Crypto and Market Reporter for Kitco News. He has over 15 years of experience as a writer, editor, broadcaster and producer for media, educational and cultural organizations. Ernest began working in market news in 2007, establishing the broadcast division of CEP News in Montreal, Canada, where he developed the fastest web-based audio news service ...

Steven van Rijswijk - CEO Tanate Phutrakul - CFO Ljiljana Cortan - CRO Tarik El Mejjad - Bank of America Merrill Lynch Giulia Miotto - Morgan Stanley Samuel Moran-Smyth - Barclays Benoit Petrarque - Kepler Cheuvreux Benjamin Goy - Deutsche Bank Farquhar Murray - Autonomous Research Kirishanthan Vijayarajah - HSBC Guillaume Tiberghien - Exane BNP Paribas Johan Ekblom - UBS Anke Reingen - RBC Capital Markets Hugh Moorhead - Berenberg Michael Harrison - Redburn In today's presentation, IÂ'll inform you about t ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXC ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended 31 December 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHAN ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCH ACT OF 1934 Commissio ...