LONDON, March 12, 2015 /PRNewswire/ --
Editor Note: For more information about this release, please scroll to bottom.
Investor-Edge.com has issued free post-earnings analysis on ING Groep N.V. (NYSE: ING). On February 11, 2015, the company reported its financial results for Q4 FY14 and full year FY14 (period ended December 31, 2014). Click on http://get.Investor-Edge.com/pdf/?c=ING%20Groep&d=12-Mar-2015&s=ING to read our free earnings review on ING Groep N.V. (ING). During Q4 FY14, the company's net result, including results from discontinued operations of NN Group and Voya, was up 87.7% Y-o-Y. Additionally, ING's underlying net profit increased 8.5% Y-o-Y for full year FY14. CEO of ING, Ralph Hamers, said that 2014 was an important and successful year for ING. He stated that ING Bank posted a strong set of full-year FY14 results, despite some headwinds in Q4 FY14. Our free coverage report can be accessed at:
http://get.Investor-Edge.com/pdf/?c=ING%20Groep&d=12-Mar-2015&s=ING
Earnings Overview
During Q4 FY14, ING reported total underlying income of €3.76 billion compared to €3.82 billion in Q4 FY13. The company's interest result grew 8.9% to €3.21 billion in Q4 FY14 from €2.95 billion in Q4 FY13. ING's Retail Banking segment's total underlying income increased 5.2% to €2.69 billion in Q4 FY14 from €2.56 billion in Q4 FY13. Additionally, the company's Commercial Banking segment's total underlying income was €1.11 billion in Q4 FY14 compared to €1.20 billion in Q4 FY13. Free research on ING can be downloaded in PDF format at:
http://get.Investor-Edge.com/pdf/?c=ING%20Groep&d=12-Mar-2015&s=ING
In Q4 FY14, ING's underlying net result stood at €548 million compared to €686 million in Q4 FY13. Including results from discontinued operations of NN Group and Voya, the company's net result surged to €1.18 billion, or €0.30 per share, in Q4 FY14 from €626 million, or €0.16 per share, in Q4 FY13.
For FY14, ING's total underlying income came in at €15.30 billion compared to €15.31 billion in FY13. The company's FY14 total underlying income missed Bloomberg analysts' forecast of €26.88 billion. ING's FY14 interest result increased 4.8% to €12.38 billion from €11.80 billion in FY13. Moreover, the company's underlying result before tax improved 9.3% to €4.72 billion in FY14 from €4.32 billion in FY13.
During FY14, ING's underlying net result increased to €3.42 billion from €3.16 billion in FY13. Including special items and insurance results, the company's FY14 net result came in at €1.25 billion, or €0.32 per share, compared to €3.55 billion, or €0.93 per share, in FY13. Analysts from Bloomberg had expected net result of €3.85 billion, or €1.07 per share, in FY14. Sign up and read the free analyst's notes on ING at:
http://get.Investor-Edge.com/pdf/?c=ING%20Groep&d=12-Mar-2015&s=ING
Mr. Hamers informed that the company launched its 'Think Forward' strategy and repaid the Dutch State ahead of schedule and moved closer to completing its restructuring plan. He stated that ING is proud to have solidified its repositioning as a leading European bank and added that both NN Group and Voya are thriving as standalone companies.
ING's full-year FY14 underlying return on IFRS-EU equity rose to 9.9% from 9.0% in FY13. ING Bank's Basel III fully loaded common equity Tier 1 ratio was calculated at 11.4%, as of December 31, 2014, compared to 10.0% as of December 31, 2013. Furthermore, ING Bank's Basel III phased in common equity Tier 1 ratio was 11.2% on December 31, 2014, compared to 11.7% as of December 31, 2013.
Moving ahead, ING's CEO said that the company has started 2015 with a strong financial position and a clear focus on empowering its growing customer base through outstanding products and customer service. He stated that the ING remains committed to reaching its Ambition 2017 targets and was pleased to inform that the company is able to begin returning capital to its shareholders. ING's intention is to pay a minimum of 40% of ING Group's annual net profits to shareholders, through dividends, with effect from 2015, he added.
ING's Board proposes to pay a final 2014 dividend of €470 million, or €0.12 per (depositary receipt for an) ordinary share, subject to the approval of shareholders at the Annual General Meeting in May 2015. Visit Investor-Edge and access the latest research on ING at:
http://get.Investor-Edge.com/pdf/?c=ING%20Groep&d=12-Mar-2015&s=ING
Stock Performance
On the day of the earnings release, February 11, 2015, ING's stock gained 3.54% to end the session at $13.16. Since then, the stock has moved mostly on a positive note. On the last close, Wednesday, March 11, 2015, the company's shares finished 0.64% higher at $14.20, after vacillating between $14.05 and $14.25. A total of 4.31 million shares were traded, which was above their three months average volume of 3.21 million shares. Over the last one month and over the previous three months, the company's shares have gained 7.90% and 3.27%, respectively. However, the stock has fallen by 0.35% in the past one year. Shares in ING are trading above their 50-day and 200-day moving averages of $13.36 and $13.79, respectively. Furthermore, the stock has a Relative Strength Index (RSI) of 50.78.
Sneak Peek to Corporate Insider Trading
In the last one month, ING has not reported any share transactions by insiders to the U.S. Securities and Exchange Commission (SEC). Complimentary in-depth research on ING is available at:
http://get.Investor-Edge.com/pdf/?c=ING%20Groep&d=12-Mar-2015&s=ING
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