ING Group Q4 Profit Down, Net Interest Income Rises - Quick Facts

(RTTNews) - Dutch banking firm ING Group NV (ING) reported Thursday that its fourth-quarter net result ING Group declined 8.4 percent to 750 million euros from 819 million euros a year ago.

Net result per share declined to 0.19 euro from 0.21 euro last year.

Net result from Banking fell 26.3 percent to 595 million euros from 807 million euros a year ago.

Underlying net result was 1.38 billion euros, compared to 822 million euros last year. Underlying result before tax was 1.96 billion euros from 1.20 billion euros a year ago.

The strong results reflected continued positive momentum in both Retail and Wholesale Banking.

Total underlying income increased 10.3 percent to 4.46 billion euros from 4.04 billion euros last year. Net interest income grew 5.3 percent to 3.34 billion euros from 3.17 billion euros a year ago. Income grew in line with volume growth, while expenses and risk costs both declined year-on-year.

Further, ING proposed to pay final cash dividend of EUR 0.42 per ordinary share. The full-year 2016 cash dividend would be 0.66 euro per share.