ING hikes 2026, 2027 guidance after quarterly profit beats expectations
ING Reports Strong Quarterly Results and Raises Guidance
Quarterly Profit and Revenue Performance
July 30 (Reuters) - Dutch lender ING on Thursday raised its full-year total income guidance to more than 24.5 billion euros ($28.0 billion) after reporting second-quarter profit that beat market expectations.
The bank posted a net result of €1.95 billion, ahead of analyst expectations of €1.83 billion seen in a company-compiled consensus, lifted in part by a 14% year-on-year rise in fee income to €1.28 billion.
CEO Commentary on Business Growth
CEO Steven van Rijswijk said the strong performance was driven by growth across all businesses, with ever more customers making greater use of the bank's products and services, boosting both interest and fee income.
Income Breakdown and Strategic Focus
ING said fee income should account for about 20% of total income by year-end as it presses ahead with efforts to reduce its reliance on net interest income, its largest revenue source. Net interest income in the quarter came in broadly in line with analyst expectations.
Upgraded Outlook and Dividend Announcement
2026 and 2027 Financial Guidance
The lender also upgraded its outlook for next year, forecasting total income of more than 26 billion euros and costs of around 13 billion euros.
Dividend Declaration
ING said it would pay an interim cash dividend of 0.40 euros per share.
Exchange Rate Information
($1 = 0.8733 euros)
Reporting Credits
(Reporting by Jakob Van Calster and Mateusz Rabiega)