- ING’s net income for Q2 2024 was €1.78 billion, surpassing the estimated €1.66 billion.
- Total income reached €5.72 billion, beating the expected €5.52 billion.
- Net interest income was €3.83 billion, slightly below the estimate of €3.84 billion.
- Net fee and commission income stood at €999 million, higher than the projected €993.3 million.
- Net interest margin came in at 1.48%, exceeding the forecasted 1.34%.
- Provision for loan losses was €300 million, lower than the estimated €309.2 million.
- Pretax profit amounted to €2.57 billion, surpassing the anticipated €2.4 billion.
- The Common Equity Tier 1 ratio was 14%, slightly below the estimate of 14.2%.
- The cost to income ratio was 49.8%, better than the expected 51%.
- Risk-weighted assets totaled €330.9 billion, exceeding the estimate of €324.88 billion.
- Analyst recommendations: 15 buys, 11 holds, 2 sells.
A look at ING Groep NV Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 5 | |
| Growth | 4 | |
| Resilience | 2 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 3.8 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
ING Groep NV, a global financial services provider, has received positive Smartkarma Smart Scores across various key factors. With a strong Dividend score of 5, the company appears to be a reliable option for investors seeking steady income. Additionally, the company scores well in Value and Growth, indicating the potential for long-term value appreciation and sustainable growth.
However, ING Groep NV shows lower scores in Resilience, suggesting some vulnerability to market fluctuations, as well as a Momentum score of 4, showing good potential for future stock price performance. Overall, the company’s diverse range of financial services and global presence position it as a competitive player in the industry, making it an interesting prospect for investors looking for a mix of stability and growth.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
Have feedback on this article? Concerned about the content? Get in touch with us directly.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Analytics and News
- ✓ Events & Webinars
