ING reported Wednesday a net profit of 1.3 billion euros for the second quarter a year earlier to 358 million euros. At the time, the result was affected by one-off write-off. Adjusted for non-recurring items was the gain by more than a quarter, to 1.4 billion euros.

CEO Ralph Hamers was speaking in an explanation of ,, excellent progress ” in the first half of this year. However, the bank remains vigilant in their own words ,, ” for potential political risks and the ongoing uncertainty surrounding regulation.

Unrest

,, the situation in the world is currently not clear stable ”, Hamers said in that respect. ,, We see geopolitical unrest, increasing polarization in politics, the brexit. In addition, on the field of new regulations still many unknowns for us. ”

The British decision to leave the EU has no direct consequences for ING, which has approximately 650 employees in Britain . ,, We have to see how the relationship with the EU is developing, ” said Hamers. ,, The most important thing is that the brexit creates turmoil in the economy, forcing companies may delay investments and growth in Europe, and perhaps the world, remains low for longer. ”



Capital Buffer

ING did its capital buffer to further strengthen in recent months. The measure of capital position (CET1 ratio) came late June, at 13.1 percent. A year earlier was the ratio between equity and outstanding loans are at 12.3 percent. Shareholders of ING can count on an interim dividend of 0.24 euros per share.

The bank provided for 14.8 billion net new loans and took out 5.7 billion euros in fresh savings inside. Worldwide, 650,000 new customers were won.

The provision for bad loans amounted to 307 million euros. That was slightly higher than in the first quarter (265 million euros), but the reservation was smaller than a year earlier. At that time, 353 million was earmarked for defaults. ING expects to have lost this year 940 million euro cost around regulations. That is 20 million less than forecast after the first quarter