ING Targets 14% Return on Equity as It Seeks to Boost Fee Income [BNN Bloomberg (Canada)]
ING Group, N.V. (ING)
US:NYSE Investor Relations:
ing.com/investor-relations.htm
Company Research
Source: BNN Bloomberg
The Dutch lender is targeting a return on equity of 14% in 2027, according to a statement for its capital markets day on Monday. It also set a goal of €5 billion ($5.3 billion) in fees. ING's shares rose as much as 2.4% in Amsterdam. Like many other European banks, ING has been benefiting from higher interest rates over the past two years. But the European Central Bank has started cutting rates and ING is now seeking to offset that decline by growing other business lines. ING will deliver €1 billion of additional fee income by 2027, the bank said on Monday. It plans to achieve this by adding clients and changing pricing. It also said it will consider M&A if a deal “accelerates strategy execution and fits stringent criteria.” The bank's return on equity stood at 12.8% in the first quarter. ING has projected that to be more than 12% in the current year. What Bloomberg Intelligence Says: “ING's raised 14% return on equity goal for 2027 ahead of its capital markets day look
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ING
Earnings
- 2/1/24 - Miss
ING
Sec Filings
- 6/26/24 - Form 6-K/A
- 6/25/24 - Form 6-K
- 6/18/24 - Form 6-K
- ING's page on the SEC website