ING Signals Share Buybacks After Beating Estimates on Profit
- Provisions for bad loans decline amid vaccine rollout
- Bank to pay 12 cents a share dividend under ECB cap, CFO says
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ING Groep NV posted fourth-quarter profit that topped analysts’ estimates and joined peers across Europe in signaling more payouts to shareholders once the European Central Bank removes restrictions.
The Dutch lender reported net income for the final three months of last year of 727 million euros ($881 million), compared with estimates of 499 million euros. The bank set aside much less than expected to cover the cost of loans going bad amid the pandemic and also saw a strengthening of its key capital buffers.