Financial Results
ING Group Reports Rise In Q2 Net Profit, Skips Dividends To Pay Back Dutch Government

ING Group, the Netherlands-based financial services group, reported a second-quarter underlying net profit of €1.181 billion, up from €901 million a year ago.
ING Group, the
Netherlands-based financial services group, reported a
second-quarter underlying net profit of €1.181 billion ($1.578
billion), up from €901 million a year ago and €988 million in the
previous three months, it said today.
The group, which was bailed out by the Dutch government in the
2008 financial crisis, said it will not pay an interim dividend
on common shares this year because it is giving priority to
repaying the government.
The net result for the group was €1.067 billion, or €0.28 per
share, including special items, discontinued operations and
divestments. The group has spun off certain businesses and
simplified its structure in recent years, and these efforts have
reaped rewards, it said in its statement today.
Eli Leenaars, member of ING's management board for Banking and Head of Challengers & Growth Countries, will leave ING. Leenaars will step down from his position as of 1 October 2014 by mutual agreement. He was appointed to the executive board of ING Group in 2004, originally joining the company in 1991.