BRUSSELS (dpa-AFX) - ING GROEP N.V. (ING), a Dutch banking and financial services company, Thursday reported higher third-quarter profit, supported by growth in net interest income and fee income.
ING also said it plans to cut around 400 jobs globally as it restructures its Wholesale Banking division into Corporate and Institutional Banking, targeting annual cost savings of approximately €75 million from 2028.
Net result increased 3.5% to €1.850 billion or €0.65 per share from €1.787 billion or €0.60 per share a year earlier.
Net interest income rose 15% to €4.262 billion from €3.705 billion, while net fee and commission income increased 9.3% to €1.273 billion from €1.165 billion.
Total income grew 5.6% to €6.227 billion from €5.898 billion.
Loan loss provisions rose to €403 million from €326 million a year earlier.
ING Group reaffirmed its 2026 outlook, expecting total income to exceed €24.5 billion, including approximately €5 billion in fee income.
For 2027, ING expects total income to exceed €26 billion, including fee income of €5.3 billion to €5.5 billion.
On the NYSE, ING shares were down nearly 2% in overnight trading after closing at $32.89 on Wednesday.
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