ING Group has announced its results for 2012.
ING Group’s full-year 2012 net result was €3,894 million and the Q4 net result was €1,434 million. The 4Q12 underlying net result was EUR 373 million, reflecting a solid quarter at Insurance and lower Bank results due to incidental items and the Dutch bank tax.
“2012 was a transformational year for ING as we worked decisively on the restructuring of the Group, preparing the Bank and Insurance companies for independent futures,” said Jan Hommen, CEO. “Results for the year held up well, despite the sovereign debt crisis in Europe and weak economic climate which persisted throughout 2012. Underlying net results for the Group were EUR 2,603 million, down just 5.2% from 2011, despite EUR 626 million of de-risking losses at the Bank, a EUR 175 million Dutch bank tax, and higher loan losses as the economy weakened,” he added.
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