ING Groep Full Year 2024 Earnings: EPS Misses Expectations

ING Groep (AMS:INGA) Full Year 2024 Results

Key Financial Results

• Revenue: €21.4b (up 22% from FY 2023).
• Net income: €6.39b (up 54% from FY 2023).
• Profit margin: 30% (up from 24% in FY 2023). The increase in margin was driven by higher revenue.
• EPS: €1.98 (up from €1.16 in FY 2023).

INGA Banking Performance Indicators

• Net interest margin (NIM): 1.70% (down from 1.90% in FY 2023).
• Cost-to-income ratio: 53.6% (up from 51.2% in FY 2023).
• Non-performing loans: 1.93% (up from 1.78% in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

ING Groep EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.1%.

The primary driver behind last 12 months revenue was the Retail Banking segment contributing a total revenue of €14.7b (69% of total revenue). Explore how INGA's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Banks industry in Europe.

Performance of the market in the Netherlands.

The company's shares are up 10% from a week ago.

Risk Analysis

Be aware that ING Groep is showing 1 warning sign in our investment analysis that you should know about...

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.