ING posts 1Q19 net result of €1,119 million

“We’ve had a positive start to the year, with first-quarter results that show good commercial momentum,” said Ralph Hamers, ING's CEO, talking about the 1Q19 results.

“Our global primary customer base grew by 150,000 to 12.6 million and our most recent net promoter scores among customers rank us first in six of our 13 retail markets. We recorded €8.7 billion of net core lending growth. Our first-quarter underlying pre-tax result declined 6.2% to €1,582 million compared to the first quarter of 2018. Income grew both year on year and sequentially and we see the positive results of our transformation programme coming through, especially in the Netherlands and Belgium. However, this was off set by higher but still relatively low risk costs, and pressure from low interest rates in our main eurozone markets."

Read the full article on ing.com