November 1, 2018 / 6:22 AM / 15 days ago

ING underlying growth continues despite money laundering penalty

AMSTERDAM, Nov 1 (Reuters) - ING Groep, the largest Dutch bank, on Thursday reported a profit of 776 million euros ($879 million), better than expected as it continued to grow on an underlying basis despite being fined for failures to prevent money laundering.

Analysts polled for Reuters had forecast net profit at 630 million euros, compared to 1.38 billion euros in the same period a year ago. ING was fined 775 million euros in September for inadequate supervision of suspicious client transactions.

$1 = 0.8819 euros Reporting by Toby Sterling; editing by Darren Schuettler

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