AMSTERDAM (dpa-AFX) - ING Group (ING) reported that its fourth-quarter net result declined to 727 million euros from 880 million euros last year.
Total income for the quarter was 4.17 billion euros, down from 4.44 billion euros in the prior year.
Net interest income for the quarter declined to 3.34 billion euros, from the prior year's 3.60 billion euros. It was impacted by margin pressure on liabilities, while average liability volumes continued to increase.
ING proposes to pay an interim cash dividend of 0.12 euros per share, in line with the recommendation of the European Central Bank to not pay more than 15% of net profit, adjusted according to the ECB definition, before 1 October 2021.
The remaining amount reserved in 2020 for distribution will be distributed after 30 September 2021, subject to AGM approval and prevailing ECB recommendations.
Copyright RTT News/dpa-AFX
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