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ING Groep NV (ING.N)

ING.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

ING Groep sells stake in Dakota Access pipeline loan
Tuesday, 21 Mar 2017 12:14pm EDT 

ING Groep NV :ING has sold its stake in Dakota Access pipeline loan.  Full Article

ING Groep Q4 net result ING Group at 750 million euros
Thursday, 2 Feb 2017 12:59am EST 

ING Groep NV : Board proposes full-year 2016 dividend of 0.66 euros per share . Q4 net result banking 595 million euros versus 807 million euros year ago . Q4 interest result 3.34 billion euros versus 3.33 billion euros in Reuters Poll . ING proposes to pay final cash dividend of 0.42 euros per ordinary share, following august 2016 interim cash dividend of 0.24 euros . Q4 total underlying income 4.46 billion euros versus 4.22 billion euros in Reuters Poll . Q4 net result ING Group 750 million euros versus 314 million euros in Reuters Poll .Q4 underlying net result 1.38 billion euros versus 1.10 billion euros in Reuters Poll.  Full Article

Orascom Construction announces closure of foreign currency financing for power plants in Egypt
Thursday, 22 Dec 2016 01:17am EST 

Orascom Construction Ltd : Foreign currency financing for Assiut and West Damietta combined cycle power plants reaches financial close . Italian export credit agency SACE extending insurance cover to loan coordinated by BNP Paribas for financing two power plants .Says loan extended to Egyptian Electricity Holding Co by BNP Paribas, Crédit Agricole Corporate and Investment Bank, Crédit Industriel et Commercial and ING Bank as to finance both project.  Full Article

Belfius joins ING and KBC in Payconiq
Tuesday, 6 Dec 2016 09:56am EST 

Ing Groep NV :Belfius joins ING and KBC in Payconiq.  Full Article

ING Groep announces cost-cutting plan
Monday, 3 Oct 2016 01:42am EDT 

ING Groep NV : Investment of 800 million euros ($898.48 million) in continued digital transformation in order to further improve customer experience, accelerate growth in primary customers and lending . Programmes to also lead to approximately 900 million euros annual cost savings by 2021 . Intended initiatives impact around 7,000 employees, mostly in Belgium and Netherlands . Countries with similar value propositions intend to harmonise their business models and develop shared operating platforms . In Netherlands And Belgium, we intend to move to an integrated banking platform, . All-In-All, over coming five years, around 7,000 functions might be impacted by these effects, including 950 positions employed by external suppliers . Initiatives are expected to result in a reduction of ING's workforce in Belgium by around 3,500 ftes and by around 2,300 ftes in Netherlands for years 2016-2021 . In line with our strategy, we will be introducing ING Group financial targets for 2020 . Targets for 2020: we will maintain our ING group CET1 ratio above prevailing fully-loaded requirement, currently 12.5 pct, with a leverage ratio above 4 pct . 2020 target for cost/income ratio is 50-52 pct . We intend to start a path of convergence towards one digital banking platform. . Over coming five years, around 7,000 functions might be impacted by these effects, including 950 positions employed by external suppliers.  Full Article

ING Groep sells 46.7 million shares of Kotak Mahindra Bank
Thursday, 29 Sep 2016 01:01am EDT 

ING Groep NV : Announced sale of 46.7 million ordinary shares of Kotak Mahindra Bank (Kotak) . Shares were sold at a price of INR 782.32 per share . Gross proceeds to ING from offering amount to approximately 490 million euros ($550.22 million) (at current exchange rate) . Sale reduces ING's stake in Kotak from currently 6.4 pct to 3.9 pct .ING's remaining stake in Kotak will be subject to a 90 day lock-up following settlement of transaction which is expected to occur on 4 October 2016.  Full Article

Poland's Pekao may attract foreign interest -ING Polish unit head
Wednesday, 3 Aug 2016 07:10am EDT 

ING Bank Slaski SA : The chief executive of the Polish unit of ING , ING Bank Slaski , told reporters on Wednesday that if Bank Pekao is put up for sale by its Italian owner Unicredit , it may attract interest from foreign banks. . "There is demand to enter markets such as Poland, because Poland still looks very attractive. One just has to look at indicators," ING Bank Slaski CEO Brunon Bartkiewicz said. . "Pekao is too big for funds, or investors from outside the (banking) sector ... but for a large banking group which would like to expand its activities in this part of Europe it (Pekao) could be an attractive buy," Bartkiewicz said. . UniCredit is considering selling its entire stake in Bank Pekao, Bloomberg reported in July, citing people familiar with the matter. [nL8N1AD1V2] Further company coverage: [INGP.WA] [PEO.WA] (Reporting by Marcin Goclowski; Writing by Marcin Goettig; Editing by Adrian Croft) ((marcin.goettig@thomsonreuters.com;)).  Full Article

ING Groep Q2 underlying net result up 26.7 pct at 1,417 million euros
Wednesday, 3 Aug 2016 12:59am EDT 

ING Groep NV :Q2 underlying net result was 1,417 million euros ($1.59 billion), up 26.7 pct from the second quarter of 2015.  Full Article

ING Q2 results beat estimates
Wednesday, 3 Aug 2016 12:59am EDT 

ING Groep NV : Q2 total underlying income 4.55 billion euros ($5.10 billion) versus 4.22 billion euros in Reuters poll . Q2 interest result 3.27 billion euros versus 3.22 billion euros in Reuters poll . Q2 underlying net result 1.06 billion euros in Reuters poll . ING group’s fully-loaded CET1 ratio rose to 13.1 pct, excluding the 2,552 million euros net profit from the first half of 2016 . Declare an interim cash dividend of 0.24 euro per ordinary share, which is equal to the interim dividend paid over the first half of 2015 . ING gained approximately 650,000 new retail customers and established roughly 350,000 primary relationships in H1 2016 . Core lending grew by 14.8 billion euros in Q2 2016 as ING continues to provide financing to clients across geographies and sectors . Second quarter ended relatively calmly in terms of corporate credit risk, but the full Brexit impact could come later in the year .The first post-referendum readings show just a slight deterioration in confidence.  Full Article

ING to adopt framework for compensation of dutch SME clients with interest rate derivatives
Tuesday, 5 Jul 2016 02:16am EDT 

ING Groep NV : ING to adopt framework for compensation of dutch SME clients with interest rate derivatives .Ing expects to increase its provision for this issue by around 150 million euros ($166.8 million), to be booked in Q2 of 2016.  Full Article

More From Around the Web

Dutch bank ING sells Dakota pipeline loan share to 'send message'

WASHINGTON Dutch bank ING Groep on Tuesday said it has agreed to sell its $120 million share of the loan for the Dakota Access Pipeline, the first bank to offload its debt from the project, which faced fierce opposition from Native Americans and environmental groups.