ING Bank Slaski Full Year 2024 Earnings: EPS Beats Expectations, Revenues Lag

ING Bank Slaski (WSE:ING) Full Year 2024 Results

Key Financial Results

• Revenue: zł9.75b (up 2.0% from FY 2023).
• Net income: zł4.37b (down 1.6% from FY 2023).
• Profit margin: 45% (down from 47% in FY 2023). The decrease in margin was driven by higher expenses.
• EPS: zł33.57 (down from zł34.13 in FY 2023).

ING Banking Performance Indicators

• Cost-to-income ratio: 41.7% (up from 40.7% in FY 2023).
• Non-performing loans: 3.68% (up from 2.53% in FY 2023).

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

ING Bank Slaski EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) exceeded analyst estimates by 4.6%.

The primary driver behind last 12 months revenue was the Corporate Banking segment contributing a total revenue of zł5.01b (51% of total revenue). The largest operating expense was General & Administrative costs, amounting to zł3.57b (66% of total expenses). Explore how ING's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Banks industry in Poland.

Performance of the Polish Banks industry.

The company's shares are up 3.6% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 2 warning signs for ING Bank Slaski (1 is a bit unpleasant!) that you should be aware of.

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