India, May 2 -- ING Group (ING), a Dutch banking and financial services company, reported Friday weak profit in its first quarter hurt by lower net interest income, despite higher income. Further, the company confirmed its fiscal 2025 outlook, and announced a 2.0 billion euros share buyback.
Steven van Rijswijk, CEO of ING Group, said, "We are well on track to meet our 2027 targets."
For fiscal 2025, the company continues to expect total income to end up at roughly the same level as it was in 2024, supported by volume growth and a targeted 5-10 percent increase in fee income. The return on equity is expected to exceed 12 percent in 2025.
In the first quarter, profit before tax dropped 7.4 percent to 2.12 billion euros from last year's 2....