ING Q1 Profit Rises

(RTTNews) - ING (ING) reported that its first quarter net result increased to 1.59 billion euros from 429 million euros, prior year. Profit before tax increased 250.9% to 2.34 billion euros.

Total income was 5.57 billion euros, up 21.0% from previous year. The Group said its total income was very strong, particularly driven by Retail Banking and the cash management activities within Wholesale Banking, reflecting the current interest rate environment. Income was also supported by higher results in Financial Markets, the Group noted.

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