Dutch bank strong performance and capital adequacy boost stock price to six-year high

The stock price of ING Bank rose by 8% in early trading to 21.33 euros, hitting its highest price since April 2019, after the company announced better than expected first-quarter results. In addition to profits exceeding expectations, the Dutch bank's Tier 1 common equity capital adequacy ratio stands at 14.7%, well above the market average expectation of 14.2%, providing support for expectations of share buybacks during future earnings releases. ING International analyst Jason Kalamboussis stated in a research report that this capital base should enable the company to return capital or engage in mergers and acquisitions. He also stated, "Two key issues for the new CEO to address are resolving the still high cost base after years of restructuring... and strategically transforming ING Bank into a company more focused on asset management/wealth management through acquisitions."