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Actionable news in ING: ING GROEP N.V. AMERICAN DEPOSITARY SHARES,

ING Climbs Most in Three Months After Earnings Beat Estimates

ING Groep NV, the largest Dutch lender, climbed the most in three months in Amsterdam trading after third-quarter profit beat estimates.

ING jumped as much as 4.2 percent in Amsterdam trading, the biggest gain since Aug. 3, and was priced at 12.02 euros as of 9:44 a.m. Net income rose 22 percent in the quarter as investment gains climbed and increasing deposits boosted interest income.

Underlying profit rose to 1.34 billion euros ($1.49 billion) from 1.09 billion euros a year earlier, the Amsterdam-based bank said in a statement on Thursday. Analysts were expecting 1.15 billion euros, based on the average of six estimates compiled by Bloomberg.

ING announced plans last month to eliminate about 5,800 jobs, or 11 percent of its workforce. Chief Executive Officer Ralph Hamers is investing in financial technology to reduce personnel and branch costs, while seeking to expand lending to consumers and companies outside its home market.

To ensure further growth in the current environment, those restructuring measures are “necessary steps to enable ING to evolve...


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