ING's Q2 income down by 0.7% to €5.72 billion - Breaking The News
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ING's Q2 income down by 0.7% to €5.72 billion

EPA/LEX VAN LIESHOUT

ING Groep NV announced on Thursday that its total income in the second quarter of the fiscal year 2024 saw an annual decline of 0.7% to land at €5.72 billion.

The company's result before tax declined by 15.4% compared to the same trimester in 2023 to reach €2.57 billion, while the net result dropped by 17.4% to €1.78 billion. Its CET1 ratio, a comparison of the group's capital against its assets, stood at 14.0%. Meanwhile, the number of primary customers observed a quarterly rise of 207,000, and that of mobile primary customers of 248,000.

"Reinforcing our strategic focus to put sustainability at the heart of what we do, we have updated our annual sustainable volume mobilized target to €150 billion by 2027, up from our previous target of €125 billion by 2025," Chief Executive Officer (CEO) Steven van Rijswijk commented.

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