Dutch banking group ING Group has reported net profit of €1.37bn for the second quarter of 2017, a 6% increase compared to €1.29bn in the same quarter last year.

Underlying net profit stood for the period ended 30 June 2017 stood at €1.4bn, a marginal decrease of 1% from the previous year. The group’s total underlying income remained almost unchanged at €4.53bn.

Underlying operating expenses were €2.31bn, a 3% rise from €2.23bn in the previous year.

The banking group’s fully loaded CET1 ratio stood at 14.5% at the end of June 2017.

ING Group CEO Ralph Hamers said: “During the second quarter, we made important strides in establishing the internal operational framework for our digital transformation.

“We also realised further progress on our commercial ambitions, with EUR 6.4 billion of net core lending growth at stable margins, despite aggressive competition in some of our markets, and a EUR 5.3 billion increase in net customer deposits.”

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“We are committed to maintaining a capital position in excess of prevailing fully loaded requirements and to providing an attractive return to shareholders. In the second quarter, we reserved EUR 0.9 billion of the quarterly net profit for future dividend payments, as we did with the first-quarter net profit.

“Today, we declare an interim cash dividend of EUR 0.24 per ordinary share over the first half of 2017, which is equal to the amount paid over the first half of 2016,” Hamers added.