ING Q2 Profit Surges, Net Interest Income Down - Quick Facts

(RTTNews) - ING Group (ING) reported Friday that its second-quarter net result of 1.46 billion euros, 388 percent higher than prior year's 299 million euros.

Result before tax grew 281 percent to 2.07 billion euros from prior year's 542 million euros.

Total income, meanwhile, fell 3.3 percent to 4.52 billion euros from 4.67 billion euros. Net interest income was 3.34 billion euros, down 2.6 percent from the prior year.

Growth in fee income was 18.3% year-on-year, especially in daily banking and investment products.

Further, the company said will distribute 3.62 billion euros after September 30. The company will pay an amount of 0.48 euro per share in October 2021 and make an additional distribution of 1.74 billion euros related to the amount reserved over 2019.

The latter will be in the form of cash and/or a share buyback, subject to relevant approvals.