By Elena VardonING Groep expects to grow its income and for its return on equity to rise in the mid-term, the Dutch lender said as it laid out its financial targets to 2027. It also expects to make 5 billion euros ($5.35 billion) in fee income by 2027, it said Monday ahead of its capital markets day. It forecasts a cost income ratio in the 52% to 54% range by 2027 while consensus stands at 53.6%, it added. ING also reiterated its common equity tier 1 ratio target of around 12.5% by the end of 2025. "We increase capital allocation to our retail business while focusing on growth combined with improving capital efficiency in wholesale banking", the lender said.

Source: Wall Street Journal June 17, 2024 06:04 UTC