Lates News

The stock price of ING Bank rose 8% to 21.33 euros in early trading, hitting its highest level since April 2019, after the company announced better-than-expected first-quarter performance. In addition to profits exceeding expectations, the Dutch bank's Tier 1 common equity ratio, a measure of capital strength, stood at 14.7%, significantly higher than the market's average expectation of 14.2%. This provides support for expectations of share buybacks in future earnings releases. Jason Kalamboussis, an analyst at ING International, stated in a research report that this capital base should enable the company to return capital or engage in mergers and acquisitions. He also mentioned, "For the new CEO, the two key issues to address are: addressing 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 strengthening acquisitions."