Skip to main content
Home

Main navigation

  • Top stories
  • Health
  • Crime
  • Politics
  • Business
  • Tech
  • Culture
  • Sports
  • Weird
  • 1-1-2
Image
Amsterdam_Zuidoost_ING-Bank_02_PM07
- Credit: ING building in Amsterdam Zuidoost (Picture: Wikimedia Commons/Pieter Delicaat)
Business
bad loans
Bank
banking sector
commissions
ING
interest
Loans
profits
quarterly fgures
regulation costs
Tuesday, 10 May 2016 - 10:43
Share this:
  • facebook
  • twitter
  • linkedin
  • whatsapp
  • reddit

ING profits drop 30 percent in first quarter

Dutch bank ING recorded a net profit of 1.3 billion euros in the first quarter of 2016, compared to 1.8 billion euros in net profit the bank made in the same period last year. Excluding once-off windfalls and set backs, the profits dropped 29 percent to 842 million euros, ANP reports. The bank largely attributes the decrease to regulation costs. The new supervisory regime in the banking sector brought nearly 500 million euros in costs during the first quarter, compared to 174 million euros last year. ING expects that these costs will increase with another 300 million euros during 2016, totaling in approximately 960 million euros. ING customers put a net amount of 8.8 billion euros into their ING accounts during the first three months of 2016. And the bank issued 7.1 billion euros in new loans. In the first quarter ING reserved 265 million euros for bad loans, a decrease of nearly 170 million euros compared to the same period last year. The bank increased interest-income with 2 percent. Commissions remained relatively stable.

Follow us:

Latest stories

  • Primary schools were short 9,100 teachers last year
  • Manchester United agree to pay up to €17 million for Feyenoord defender Malacia
  • Council of State reinstates jihadist's Dutch nationality in her children's interest
  • Woman raped in broad daylight on Leiden street; Suspect in custody
  • Parliament experts get safety training amid violent protests; Debate set for Thursday
  • Many healthcare workers never got their Covid booster shots

Top stories

  • Dutch Caribbean braces for tropical storm Bonnie with curfew, closed schools
  • Farmers protests increasingly radical, police say; Coalition party demands debate
  • Angry farmers break through police barricade at Minister's house
  • Necklace worth €27 million snatched in Tefaf Maastricht art fair robbery: Report
  • Covid hospital patient total jumps 17 percent; New infections rise by 29 percent
  • Small plane crashes in Flevoland lake; Rescuers working to save victims

© 2012-2022, NL Times, All rights reserved.

Footer menu

  • Privacy
  • Contact
  • Partner content