ING: annual earnings down 12%

(CercleFinance.com) - ING has reported a 12.
3% drop in FY 2024 net profit to E6.39bn, as well as an 11.4% decline in pre-tax profit to E9.3bn, despite customer growth and an increase in loans and deposits.

The Dutch financial institution posted stable total income (+0.2%) at E22.6bn, but with double-digit growth (+11.5%) in fee and commission income, exceeding E4bn for the first time.

Announcing an annual return on equity (RoE) of 13%, ING will propose a final cash dividend of E0.71 per share. Together with last August's interim dividend of E0.35, this means that ING will have paid out a total of E3.3bn to its shareholders for 2024.

For the coming year, we remain vigilant, as we anticipate persistent geopolitical volatility and a fragmented economic outlook, ING says, expecting total income to be fairly stable in 2025, with RoE exceeding 12%.


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