Arab Today, arab today dutch bank ing posts strong profit
Last Updated : GMT 02:16:38
Arab Today, arab today
Arab Today, arab today

Dutch bank ING posts strong profit

Arab Today, arab today

Arab Today, arab today Dutch bank ING posts strong profit

Dutch bank ING
The Hague - AFP

Leading Dutch bank ING on Thursday posted a sharp rise in first quarter net profit, boosted by a growth in lending and as the sale of its US-based insurance unit was finalised.

The bank recorded a profit of 1.77 billion euros ($2.0 billion), a sharp reversal from the 1.92 billion euro loss over the same period last year, ING said in a statement.

Last year's loss was attributed to ING's ongoing restructuring, as it sought to repay a 10 billion euro loan from the Dutch state issued at the height of the banking crisis in 2008.

"This strong performance was achieved despite the challenging operating environment, characterised by unprecedented low interest rates and the uneven economic recovery," ING chief executive Ralph Hamers said in the statement, issued from Amsterdam.

"During the quarter, we attracted 13.6 billion euros of net customer deposits and our core lending franchises grew by 6.9 billion euro," Hamers said.

The bank reimbursed its loan from the Dutch state with interest in November 2014, seven months ahead of schedule.

In February it announced its first dividend payment since being bailed out in 2008.

In exchange for the rescue, the European Commission had demanded the bank's restructuring including selling off its insurance activities. ING have sold off insurance divisions in Asia, the Americas and elsewhere.

In March it sold its remaining stake in US insurance company Voya for $2 billion, closing out its US activities in the sector.

Last year ING was hit with a 2.0 billion euro after-tax loss in the first quarter, relating to Voya's sale.

ING in July last year announced it was selling Dutch insurer NN Group in one of Europe's biggest initial public offerings for the year, expected to rake in 1.5 billion euros.

ING is progressively reducing its stake in NN Group and completely sell it off by the end of 2016.

In November it said it would slash 1,700 jobs over the next three years in the Netherlands as part of a simplification process and expanding its IT platform.

ING employs 53,000 people in 40 different countries and is listed on the Amsterdam, Brussels and New York Stock Exchange.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today dutch bank ing posts strong profit Arab Today, arab today dutch bank ing posts strong profit

 



Arab Today, arab today
Arab Today, arab today Nohan Seyam designs beautiful accessories

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today 11 family members dead in rebel push

GMT 07:57 2017 Tuesday ,21 February

11 family members dead in rebel push
Arab Today, arab today To probe sexual harassment claims

GMT 10:08 2017 Tuesday ,21 February

To probe sexual harassment claims
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today 57 monkeys carrying 'invasive' genes

GMT 16:00 2017 Tuesday ,21 February

57 monkeys carrying 'invasive' genes
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Ahmed Fahmy stresses he did not ignore singing

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 14:51 2017 Monday ,20 February

Ways to acquire presentation skills

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 16:08 2017 Wednesday ,15 February

Shawsh reveals her collection "Jewelry of dreams"
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday