(CercleFinance.com) – The group announces a pre-tax profit of 2,293 million euros in the 1st quarter of 2024 (compared to 2,344 million euros). Return on equity is 14.8% thanks to a higher CET1 ratio of 14.8%. Total revenue came to 5,583 million euros (compared to 5,567 million euros).
Net interest income from loans and liabilities remains strong. Growth was double-digit for fee income, with a strong contribution from retail and wholesale banking.
The company recorded an increase of 99,000 customers, net core deposit growth of €13.5 billion and net core loan growth of €4.2 billion.
“We have had a very good start to 2024 with good financial and commercial results in the execution of our strategy,” said Steven van Rijswijk, CEO of ING. ‘Our total revenue remained strong and was driven this quarter by double-digit growth in fee revenue, with contributions from both retail and wholesale banking.
‘ Fee and commission revenues increased by 11% compared to the same period last year and 14% compared to the previous quarter. Growth in the Personal Banking segment was driven by higher revenues from ongoing banking fees and investment products.
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