Categories: BankingEarningsU.S. Investing

ING Sees Q4 Bank Earnings Triple

ING Sees Q4 Bank Earnings Triple (Bloomberg)

Shares of Dutch financial giant ING Groep NV (ING) rose 3.4 percent in Amsterdam after reporting Q4 and full-year earnings. The company reported net income of 539 million euros ($735 million), crushing consensus analysts’ estimates of 254 million euros. The majority of the profits came from ING’s lending arm, which saw its pretax profit rise to 904 million euros, tripling the previous year’s 283 million euros, and outdistancing analysts’ estimates of 819 million euros. ING is nearing the end of a government-imposed restructuring program, in the wake of the company’s 2008 bailout, and seems to be gathering momentum. But is it enough to convince investors to come back?

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Wayne Ellis

Wayne Ellis has been involved in the financial publishing industry for more than 15 years. During that time, he has helped to edit, to market and to launch products and services for Ernst & Young, LLC, Fidelity Investments, Agora, LLC, and Eagle Financial Publications. He currently puts his broad-based experience and industry expertise to use as a contributing writer for Eagle Financial Publications. He also is a graduate of Arizona State University.