ING Group Q4 Profit Jumps, Says Dividends Reinstated - Quick Facts

(RTTNews) - Dutch banking firm ING Group (ING) Wednesday reported fourth-quarter net result of 1.176 billion euros or 0.30 euro per share, including results from discontinued operations of NN Group and Voya. This compared to 626 million euros or 0.16 euro per share reported last year.

Total underlying income was 3.756 billion euros, compared to 3.815 billion euros in the prior year.

Ralph Hamers, CEO of ING Group, said, "ING Bank posted a strong set of full-year 2014 results, despite some headwinds in the fourth quarter...Our fourth-quarter result was dampened by redundancy provisions related to these actions, the annual Dutch bank tax and negative CVA/DVA impacts which lowered the underlying result before tax to EUR 783 million."

ING proposes to pay a cash dividend of 470 million euros, or 0.12 euro per ordinary share. The company intends to pay a minimum of 40 percent of ING Group's annual net profits to shareholders, through dividends, effective from 2015.

The firm said it remains committed to reaching its Ambition 2017 targets.