ING Group has reported net profit of €1.38bn for the third quarter of 2017, a marginal rose of 2% compared with €1.35bn in the year ago quarter.
The bank’s underlying net profit rose 3.1% to €1.38bn from €1.34bn in the third quarter of 2016.
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Underlying result before tax stood at €1.99bn, a jump of 6% compared to €1.88bn in the third quarter of last year.
The Dutch banking group’s total underlying income in third quarter of 2017 was €4.41bn, up 1% compared to €4.363bn in the corresponding year ago period.
The group’s underlying operating expenses rose 3.1% to reach €2.29bn from €2.22bn in the year ago period.
Commenting on the results, ING Group CEO Ralph Hamers said: “The results also confirm that we are on the right path in transforming ING into the bank of the future as we strive to empower people to stay a step ahead in life and in business by being clear, easy, consistent and convenient. We know there’s much to learn from others through this process, and we see value in combining strengths through cooperation.
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By GlobalData“An example is our recently announced partnership with online wealth manager Scalable Capital in Germany. This expands our offering with digital investment management services, also known as robo-advice. We will continue to create and co-create customer experiences like these-those that are personal, seamless, instant and relevant.”
