ING’s first-quarter pretax earnings 1.02 billion euros, anticipates worse to come
AMSTERDAM (Finance) – ING, the largest Dutch bank, on Friday announced its first-quarter pretax earnings of 1.02 billion euros, a 35.7% drop from a year ago.
This can be attributed to higher bad loan provisions and lower valuations due to the coronavirus pandemic.
“The COVID-19 pandemic is profoundly affecting society and the economy throughout the world, and it will continue to do so for some time.”
– Ralph Hamers, ING CEO
(Photo syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field.