Banking and financial services company ING Group (ING) announced a decline in its second-quarter net results, falling over 17% to €1.78 billion from €2.15 billion in the prior year. Correspondingly, net result per share dropped to €0.54 from the previous €0.60.
The Group's pre-tax results also saw a significant decrease, sliding more than 15% to €2.568 billion, while the gross result declined by 8.5% to €2.868 billion.
Total income for the quarter experienced a slight decrease of 0.7%, amounting to €5.716 billion. Notably, net interest income decreased by 5.7%, whereas net fee and commission income saw a growth of 9.5%.
As part of its distribution policy, ING Group confirmed that an interim dividend of €0.35 per ordinary share will be distributed in cash on August 12, 2024. This dividend represents approximately one-third of their resilient net profit for the first half of 2024.
