ING Groep starts 1 billion euro buyback on profit beat
ING reported a first-quarter profit of 1.56 billion euros, beating analyst forecasts. The result was driven by lower costs and strong performance across units.
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ING GROEP NV launched a 1 billion euro ($1.2 billion) share buyback on Thursday morning after reporting a 1.56 billion euro Q1 profit. The result beat analyst forecasts of 1.43 billion euros and surpassed the previous year's profit by 100 million euros. Lower costs and broad operational strength provide ING with the capital surplus needed to accelerate shareholder returns.
