ING says aiming for 3% annual growth for 2022-2025 | Photo credits: ING Group
AMSTERDAM, June 13 (Reuters) – ING said on Monday it was aiming for annual revenue growth of 3% for the period 2022-2025, as part of its medium-term financial targets.
The top Dutch bank is also targeting a cost-to-income ratio of 50-52% and a return on equity of 12% by 2025, the group said in a statement released ahead of a meeting with investors.
ING’s revenue grew by 4.8% in 2021, while its operating ratio was 60.5% and return on equity was 9% over the same period. In the first quarter, the bank reported higher bad debt provisions related to its exposure to Russia and Ukraine.
(Reporting by Toby Sterling; French version Elena Vardon, editing by Kate Entringer)