ING Raises Guidance Across the Board on Volume Growth, Cost Control
Dow Jones
Jul 30
0938 GMT - ING Groep raised guidance on all key metrics as the Dutch bank is benefiting from strong growth in lending volumes and good cost control, RBC Capital Markets' Anke Reingen says in a research note. The bank reported a strong set of second-quarter results, with volume growth driving commercial net interest income higher, the analyst says. "In combination with good cost control, reported trends and upgraded guidance for commercial [net interest income] should lead to consensus upgrades," she adds. Moreover, ING's new outlook seems to be based on potentially conservative interest-rate assumptions, according to RBC. Shares rise 2.3%.
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