ING Groep N.V. Q3 Beats Expectations, Kicks Off GBP Bond Stabilization Plan
AI Summary1 min read
TL;DR
ING Groep N.V. beat Q3 2022 revenue and EPS estimates, driven by strong cash loans and mortgages, but corporate lending lagged. The bank also started a GBP bond stabilization plan.
Tags
ING GroepQ3 EarningsRevenue BeatBond StabilizationCorporate Lending
ING Groep N.V. (NYSE:ING) reported Q3 2022 revenue of $6.88 billion, beating estimates of $6.51 billion by 5.68%. EPS also exceeded expectations at $0.70. The bank's strong performance in cash loans and mortgages was offset by subdued corporate lending due to economic uncertainty. ING kicked off the stabilization period for its GBP benchmark bond offering, with the bank acting as its own stabilizing manager.
