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ING Groep Says 4Q Net Profit Rose, Backs Its 'Think Forward' Targets

By Ian Walker Dow Jones Newswires

ING Groep NV (INGA.AE) on Wednesday reported a 35% rise in fourth-quarter net profit, and said it remains committed to the "Think Forward" targets it gave in October 2016.

The Dutch banking group made a net profit of 1.02 billion euros ($1.27 billion) compared with EUR750 million a year earlier. Net interest income rose to EUR3.51 billion from EUR3.34 billion a year earlier.

Amsterdam-listed ING Groep's fully-loaded common equity Tier 1 ratio, a measure of financial stability, stood at 14.7% at Dec. 31, compared with 14.2% at Dec. 31, 2016.

The board has declared a final dividend of 43 cents a share, up from 42 cents a year earlier, taking the total payout for the year to 67 cents from 66 cents.

Write to Ian Walker at ian.walker@wsj.com; @IanWalk40289749

(END) Dow Jones Newswires

January 31, 2018 01:34 ET (06:34 GMT)