Boston, MA 05/08/2014 (wallstreetpr) – ING Groep N.V.(NYSE:IND), the leading financial institution has recently announced its Q1 financial results of year 2014. According to the announcement made by the company, it has earned a profit of EUR 988 million in Q1 of year 2014. Please note that the company made EUR 1,170 million profit in Q3 of year 2013, while EUR 493 million in Q4.
When it comes to net income of the group, one can certainly say that the company has made EUR -1,917 million in Q1. The net change in net income and profits from previous quarters has come into light because of the changes made in the Dutch pension fund and deconsolidation of Voya. If removed tax from the profit figure then one can see the change in the profit of Q1 of year 2014, which will be amounted EUR 1,176 million. Though it is not much in comparison to last two quarters’ performance, but when compared to Q1 of last year, the company has made net growth of 30.1% subsequently.
There are few factors which have made this kind of excellent growth possible for the companies. The two prime most reasons are the improved market conditions and increment in the interest rates of ING Groep N.V.(NYSE:IND). In the Q1 of current year, the ING Groep N.V. got funds of worth EUR 8.3 billion entrusted by several investors. At the same time, the company’s net lending grew by EUR 5.1 billion at the same time period.
As the global economic conditions are expected to improve in coming months, so the figures that bank has posted will surely go up by a decent margin. The market sentiment are with ING Groep N.V.(NYSE:IND), as the time progresses, all the investors will be able to get a clear idea about company’s future prospects in coming few months.