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ING Surges After Second-Quarter Profit Almost Quadruples

  • Net income boosted by lending income and lower provisions
  • Lender books 200 million-euro gain from sale of Visa Europe
Bloomberg business news

ING Not Relaxing Credit Standards, Says CFO Flynn

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ING Groep NV rose the most in six months after the Dutch lender said second-quarter profit more than tripled, benefiting from a boost in lending income and lower provisions for loan losses.

Net income rose to 1.3 billion euros ($1.46 billion) from 358 million euros a year earlier, the Amsterdam-based bank said in a statement on Wednesday. The lender booked about 200 million euros from the sale of its stake in Visa Europe Ltd. and proposed an interim dividend of 24 euro cents a share, same as last year.