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ING Groep NV (ING.N)

ING.N on New York Stock Exchange

18.07USD
21 Jul 2017
Change (% chg)

$0.02 (+0.11%)
Prev Close
$18.05
Open
$18.05
Day's High
$18.09
Day's Low
$17.95
Volume
637,291
Avg. Vol
780,397
52-wk High
$18.16
52-wk Low
$10.49

Latest Key Developments (Source: Significant Developments)

Noble Group's banks poised to decide trading house's fate- FT, citing sources
Tuesday, 6 Jun 2017 01:05pm EDT 

June 6 (Reuters) - :Noble group's banks poised to decide trading house's fate- FT, citing sources.Noble group's banks have appointed legal advisers as they consider the case for extending $2 billion credit line- FT, citing sources.  Full Article

ING Groep Q1 underlying net result at 1.18 billion euros
Wednesday, 10 May 2017 12:59am EDT 

May 10 (Reuters) - ING Groep Nv : :Q1 UNDERLYING NET RESULT EUR 1.18 BILLION VERSUS EUR 1.04 BILLION IN REUTERS POLL.ING 1Q17 UNDERLYING PRE-TAX RESULT OF EUR 1,652 MILLION, UP 39.3% YEAR-ON-YEAR.Q1 NET RESULT ING GROUP EUR 1.1 BILLION VERSUS EUR 1.02 BILLION IN REUTERS POLL.Q1 INTEREST RESULT EUR 3.35 BILLION VERSUS EUR 3.33 BILLION IN REUTERS POLL.Q1 TOTAL UNDERLYING INCOME EUR 4.40 BILLION VERSUS EUR 4.31 BILLION IN REUTERS POLL.Q1 ING GROUP FULLY-LOADED COMMON EQUITY TIER 1 (CET1) RATIO OF 14.5%, UP FROM 14.2% AT YEAR-END 2016.THE FIRST-QUARTER 2017 NET RESULT FROM CONTINUING OPERATIONS ROSE 52.2% TO EUR 1,143 MILLION FROM EUR 751 MILLION IN THE FIRST QUARTER OF 2016.  Full Article

ING to participate in Bank of Beijing share offering
Tuesday, 25 Apr 2017 10:01am EDT 

April 25 (Reuters) - ING Groep NV ::To participate in Bank of Beijing <<<601169.SS>>> share offering.After offering, ING expects to maintain its position as largest shareholder in bank of beijing with a stake of approximately 13.0 pct, down from current 13.6 pct.Shares are expected to be priced at a 10 pct discount to market price at time of completion of private placement, which is expected in Q4 of 2017.To participate in private placement by Bank of Beijing which intends to issue approximately 2.4 billion ordinary shares to raise up to approximately RMB 24 billion ($3.49 billion).ING's planned subscription will not exceed 221 million shares (around 9.2 pct of total placement) or equivalent of eur million euros.  Full Article

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

DERIVATIVES-BNPP to acquire ING structured products risk

LONDON, July 12 (IFR) - BNP Paribas has struck an agreement with ING to acquire risk relating to a €5bn portfolio of structured notes issued by the Dutch bank.