Aug 13, 2008
ING: net profit down but above expectations
ING has published Wednesday a quarterly profit down 28.8% over one year to 1946 billion euros due to a decline "in income on its investments."
Nevertheless, the market expected a net profit of 1.52 billion euros, far below the performance of the Dutch insurer, despite a "turbulent".
From the operational side, ING recorded a decrease of 17.2% of his income which amounted to 1101 billion euros for its banking sector. As for operating income of its insurance business, it is down 41.5% to 1145 billion euros.
The real estate group also recorded a small performance, with a result and shares down. Only activities online banking ING Direct emerge up with a profit of almost 180 million euros, up 4.7%.
The impact of the crisis mortgages on these results has been valued by ING to 44 million euros.
by erectusplus at 4:36 AM |
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