(CercleFinance.com) – ING announced on Monday its intention to increase its net banking income by an average of 3% by 2025, a prospect that did not seem to thrill the market since its stock fell sharply to the Amsterdam Stock Exchange.
The Dutch banking group, which is organizing a meeting of investors today, declared this morning in the preamble to the event that it was aiming for a cost/income ratio of 50% to 52% by 2025, accompanied by a CET1 capital of around 12.5% and a return on equity (ROE) of 12%.
As many objectives deemed unsurprising by analysts at RBC, who however point out that the objective of 3% revenue growth is lower than the consensus, which for its part aimed for an increase of 4%.
The Canadian broker adds that it is not clear the extent of future interest rate hikes that the financial institution has included in its forecasts.
‘The renewal of short-term objectives in terms of profitability and return on capital is a good thing, but the uncertainty surrounding the short-term situation will undoubtedly offset this element,’ he adds.
ING, whose investor meeting is due to start at 1:00 p.m., has also signaled its intention to support the sustainable projects of customers of its merchant banking branch with 125 billion euros per year by 2025.
All these announcements were received without much enthusiasm on Euronext Amsterdam, where the title dropped more than 2.8% at the end of the morning.
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