ING Groep's Q4 profit drops 21% as costs and provisions rise By Investing.com
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 06 2025
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Should l Buy ?
Source: Investing.com
Fourth Quarter Financial Performance: ING Groep reported a fourth-quarter profit before tax of €1.77 billion, down 21.2% from the previous year, with net profit falling to €1.15 billion due to increased operating expenses and higher loan loss provisions.
Customer Growth and Economic Outlook: The bank expanded its mobile customer base by 434,000 in the quarter, while core lending and deposits grew significantly; however, it remains cautious about 2025 due to economic uncertainty and geopolitical risks.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
