ING’s earnings beat forecasts

City A.M. Reporter
DUTCH financial group ING yesterday beat second-quarter profit forecasts at its banking business and said it could announce more cost savings later this year as it continues to slim down in a drive to recover from the financial crisis.

ING posted a 39 per cent drop in second-quarter net profit to €788m, hit by a €98m loss from Asian operations. However, underlying pre-tax profit at ING’s banking operations rose 13.5 per cent to €1.15bn.