logo
Plus   Neg
Share
Email

ING Q2 Net Result Down 79.2% - Quick Facts

ING Group (ING) reported that its second-quarter net result dropped 79.2 percent to 299 million euros from 1.44 billion euros in the prior year. Net result per share was 0.08 euros, down from 0.37 euros in the previous year.

The result reflected higher collective provisioning triggered by a worsened macro-economic outlook due to the impact of the Covid-19 pandemic and higher individual Stage 3 provisions, as well as impairments on goodwill.

Result before tax was 542 million euros, down from 2.01 billion euros in the prior year.

Net interest income for the quarter declined to 3.43 billion euros from 3.47 billion euros in the prior year.

Total income was 4.671 billion euros, compared to 4.665 billion euros in the previous year.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Consumers plan to spend less overall on gifts, holiday items, and non-gift purchases for themselves this holiday season, according to an annual survey by the National Retail Federation and Prosper Insights & Analytics. The survey also found that one in five, or 19 percent of holiday shoppers who typically travel for the holidays, prefer to remain at home this year due to the coronavirus pandemic. Microsoft is in agreement with Alaska Airlines to enable flying more sustainably on three most popular routes traveled by Microsoft employees on Alaska Airlines, which uses sustainable aviation fuel (SAF). The SAF, supplied by SkyNRG, is an important option for the aviation industry to reduce carbon (CO2) emissions on a life-cycle basis. Walmart and Sam's Club announced options for customers to safely dispose unused, unwanted and expired medication throughout the year. With this, the retail giant aims to help the public from potential danger for misuse and abuse of prescription medications. On Saturday, October 24, the company will host in-person medication disposal events at select store and club locations across U.S.
RELATED NEWS
Follow RTT