ING Groep N.V.

ING Groep is a global financial institution based in the Netherlands. Co. is engaged in offering a wide range of retail and wholesale banking services to customers in over 40 countries across Europe, the Americas, Asia and Australia. In addition to the basic banking services of lending, payments and cash management and treasury, Co. provides tailored banking solutions in areas including corporate finance, commercial finance (factoring), equity markets and debt capital markets to help clients achieve their business goals. Co.'s operations are organized along five segments: Retail Netherlands; RetailBelgium: Retail Germany: Retail Other; and Wholesale Banking.
  • TickerINGA
  • ISINNL0011821202
  • ExchangeEuronext Amsterdam
  • SectorBanks
  • CountryNetherlands

Analysts

Alain William ...
  • Florent Laroche-Joubert
  • Jean Sassus
  • Jerôme Bodin
  • Louis Boujard
  • Philippe Ourpatian
  • Stephane Houri
  • Steven Gould
  • Veysel Taze

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 23/05/2019

...

Derya Guzel

Morningstar | ING Reports 1Q 2019 Results; Higher Loan Loss Provisions Hurt Bottom Line

ING's first-quarter results came in at EUR 1,119 million, down 9% compared with the same period last year. Although these results look weak at the first glance, underlying operations were not as downbeat. Net interest income and fee and commission income both increased little more than 2% vis-à-vis last year driven by higher volumes in customer lending, improved mortgage margins, and higher fee income in Germany and the Netherlands more than offsetting lower fees from Turkey and Belgium. Operating expenses increased nearly 4% year over year compared with a 3% increase in income. However, opera...

Ahmed Ben Salem ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Delphine Brault
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Louis Boujard
  • Philippe Ourpatian
  • Steven Gould
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/03/2019

...

Ahmed Ben Salem ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Delphine Brault
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Louis Boujard
  • Philippe Ourpatian
  • Steven Gould
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 03/05/2019

...

Jean Sassus ...
  • Steven Gould

ING : Début d’année peu enthousiasmant…

>T1 2019 mitigé, peu d’évolution des perspectives - RN = 1.12 Md€ vs cons 1.14 Md€ (-2% & -6% yoy),/ RCAI = 1.58 Md€ vs cons 1.53 Md€ (+4% & -68% yoy).- principaux moteurs : relative bonne résistance de la topline (non core) & contrôle des coûts et, à nouveau, surtout moindre coût du risque.Revenus d’intérêt : 3.48 Md€ en ligne (+2% yoy) – perspective toujours mitigée en 2019 (volumes +3-4% vs marges flattish) / Commissions = 675 M€ < attentes (-1% vs cons mais +...

Philippe Lamaud ...
  • Steven Gould

ING : Credit Update; Buy ING Group Tier 2

ING continued in 2017 the successful execution of its “Accelerating Think Forward” strategy presented in 2016 and covering the years to 2020. Favourable conditions in the eurozone (where ING generates around 75% of overall group revenues) have further underpinned the group’s financial performance and the economic outlook (particularly in the Netherlands) is sound. ING’s earnings in the first three quarters of 2017 exceeded analysts’ consensus estimates, while key credit metrics improved. - For regulatory reasons and following the designation of ING Group (the holding company) as the group’s r...

Derya Guzel

Morningstar | ING Reports 1Q 2019 Results; Higher Loan Loss Provisions Hurt Bottom Line

ING's first-quarter results came in at EUR 1,119 million, down 9% compared with the same period last year. Although these results look weak at the first glance, underlying operations were not as downbeat. Net interest income and fee and commission income both increased little more than 2% vis-à-vis last year driven by higher volumes in customer lending, improved mortgage margins, and higher fee income in Germany and the Netherlands more than offsetting lower fees from Turkey and Belgium. Operating expenses increased nearly 4% year over year compared with a 3% increase in income. However, opera...

Jean Sassus ...
  • Steven Gould

ING : Début d’année peu enthousiasmant…

>T1 2019 mitigé, peu d’évolution des perspectives - RN = 1.12 Md€ vs cons 1.14 Md€ (-2% & -6% yoy),/ RCAI = 1.58 Md€ vs cons 1.53 Md€ (+4% & -68% yoy).- principaux moteurs : relative bonne résistance de la topline (non core) & contrôle des coûts et, à nouveau, surtout moindre coût du risque.Revenus d’intérêt : 3.48 Md€ en ligne (+2% yoy) – perspective toujours mitigée en 2019 (volumes +3-4% vs marges flattish) / Commissions = 675 M€ < attentes (-1% vs cons mais +...

Jean Sassus ...
  • Steven Gould

ING : Looking for a second wind…

>Home straight for the strategic plan: what is the state of play? - The scheduled update on 25 March next concerns the home straight in the Think Forward strategic plan presented at the end of 2016. Challenged on its main financial targets, ING’s two priorities, which are closely linked, should remain operating leverage and capital. In our view, the key to resolving this equation, which is difficult, lies with costs.Priority #1: reassure investors on the ...

Jean Sassus ...
  • Steven Gould

ODDO : Aide-toi, la BCE t’aidera… ou pas

>Normalisation des taux : les banques attendront… encore - La BCE exclut dorénavant une normalisation des taux de dépôts d’ici fin 2019. De plus Mr Draghi semble la conditionner à l’objectif d’inflation. Cela peut faire craindre un statu quo prolongé puisque la BCE table sur une inflation de 1.5% à 1.6% en 2020-2021. Mr Draghi n’a pas évoqué de mesures destinées à mitiger l’impact des taux négatifs pour le secteur. Le coût pour l’ensemble du secteur serait d’environ 7...

Derya Guzel

All Aboard the Money Laundering Train; New Reports Implicate More European Banks

Over the past days a consortium of investigative newspapers, online portals, and television programs revealed a web of money laundering activities flowing through the European banking system, which lay bare a different scale and urgency of the problem of anti-money laundering controls within most banks as well as regulators than previously acknowledged. Of the banks named thus far to be involved we cover Danske, Nordea, Swedbank, Raiffeisen, Erste, RBS (acquired the unit in question from ABN in ...

Alain William ...
  • Florent Laroche-Joubert
  • Jean Sassus
  • Jerôme Bodin
  • Louis Boujard
  • Philippe Ourpatian
  • Stephane Houri
  • Steven Gould
  • Veysel Taze

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 23/05/2019

...

Ahmed Ben Salem ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Delphine Brault
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Louis Boujard
  • Philippe Ourpatian
  • Steven Gould
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/03/2019

...

Ahmed Ben Salem ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Delphine Brault
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Louis Boujard
  • Philippe Ourpatian
  • Steven Gould
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 03/05/2019

...

Antoine Boivin-Champeaux ...
  • Benoit Valleaux
  • Jean Sassus
  • Khaled Ben Amor
  • Louis Boujard
  • Philippe Ourpatian
  • Steven Gould
  • Sylvain Goyon
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/26/2019

In theory, the euro has, via the financing of the record twin deficits in the US and the anticipations of a fall in the Fed’s key rates in 2020, solid reasons for appreciating. Moreover, the Fed’s capitulation, on 20 March, had boosted the euro. In reality, further disappointment on European PMI data and the return of the spectre of a hard Brexit have wiped out this rebound. In this context of uncertainty, why not choose from our “strong euro” and “strong dollar” baskets, stocks with...

Antoine Boivin-Champeaux ...
  • Benoit Valleaux
  • Jean Sassus
  • Jerôme Bodin
  • Khaled Ben Amor
  • Louis Boujard
  • Philippe Ourpatian
  • Steven Gould
  • Sylvain Goyon
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 26/03/2019

Sur le papier l’Euro a, via le financement des déficits jumeaux records aux USA et les anticipations de baisse des taux directeurs de la FED en 2020, de solides raisons de se renforcer. La capitulation, le 20/3, de la FED lui avait d’ailleurs donné des couleurs. Dans les faits la nouvelle déception sur les PMI européens et le retour du spectre du hard Brexit ont annulé ce sursaut. Dans ce contexte d’incertitude, pourquoi ne pas sélectionner au sein de nos paniers « euro fort » et « d...

Ibrahim Firdaus

ING Groep

Ibrahim Firdaus

ING Groep

Ibrahim Firdaus

ING Groep

Ibrahim Firdaus

ING Groep

Ibrahim Firdaus

ING Groep

MarketLine Department

Principal Financial Group Inc. - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Principal Financial Group Inc. Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Principal Financial Group Inc. since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its c...

MarketLine Department

BNP Paribas SA - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's BNP Paribas SA Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by BNP Paribas SA since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. Key Highl...

MarketLine Department

Svenska Handelsbanken AB - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Svenska Handelsbanken AB Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Svenska Handelsbanken AB since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive a...

MarketLine Department

Barclays Plc - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Barclays Plc - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments Marketline's Barclays Plc Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Barclays Plc since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity und...

Expert Corporate Governance Service (ECGS)

ING Groep - 23 April 2019

In general, ING Group ("ING") is in compliance with the Dutch regulations relating to the organisation and procedures of the Annual General Meeting. Under ITEM 4a, discharge of the executive board is sought. In view of the substantial fine and the ongoing investigation into shortcomings in the execution of customer due diligence requirements in Italy (see below), ECGS is unwilling to grant discharge to the members of the executive board. Accordingly, ECGS recommends to vote OPPOSE. Under ITEM 4b, discharge of the supervisory board is sought. With reference to comments made under ITEM 4a abov...

Ing Groep – Proxinvest Corporate Governance Rating ® : B

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Europe & the UK remain in focus The MSCI ACWI ex-U.S. is breaking topside its nearly 14-month downtrend and above key resistance. The move is being fueled by improvements throughout most of Europe and the UK, along with strength in China over the past 2-3 months. We believe these positive developments are supportive of higher equity prices moving forward. As a result of these and several other observations highlighted below, our outlook on global equities is positive. • Europe & the UK. As has been the case over the last several weeks, a major focus of ours within global equities (ex-U.S.) h...

Matthieu DRIOL

Short term view - ING GROEP NV : Rising consolidation.

The background trend is clearly bearish. The negative MACD confirms the trend. The rise is a consolidation that will soon bump against the level at €10.962. The next target is at €9.447, then €8.327. Passing €11.600 would question the continuation of the fall.

Matthieu DRIOL

Short term view - ING GROEP NV : The background trend is clearly bearish.

The background trend is clearly bearish. The movement goes on. The next target is at €9.447, then €8.327. Passing €11.600 would question the continuation of the fall.

Matthieu DRIOL

Analyse court terme - ING GROEP NV : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Le mouvement se poursuit. Le prochain objectif est à 9,447 €, puis 8,327 €. Le franchissement de 11,600 € remettrait en cause la suite de la baisse.

Valérie GASTALDY

Analyse moyen terme - ING GROEP NV : La tendance est baissière.

La tendance est baissière. Le mouvement se poursuit. Le prochain objectif est à 10,477 €, puis 9,442 €. Le franchissement de 13,032 € remettrait en cause la suite de la baisse.

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