ING Group Q3 Profit Climbs On Solid Commercial Momentum - Quick Facts

(RTTNews) - Dutch banking firm ING Group NV (ING) reported Thursday that its third-quarter group net result climbed 26.8 percent to 1.349 billion euros or 0.35 euro per share from last year's 1.064 billion euros or 0.28 euro per share.

ING Bank's net result grew 23.9 percent to 1.336 billion euros, reflecting solid commercial momentum.

The total underlying result before tax was 1.878 billion euros, compared to 1.495 billion euros a year ago. The results reflected continued loan growth at healthy margins, effective cost control and a relatively low level of risk costs.

Total underlying income was 4.36 billion euros, 9 percent higher than last year's 4 billion euros.

The company noted that ING Bank recorded 3.6 billion euros of net core lending growth and attracted 2.0 billion euros of net customer deposits in the third quarter.

The quarterly performance reflected continued loan growth at healthy margins, as well as higher commission and fee income.