ING, which does not pay the special tax to banks in Spain, increases its profit by almost 83%

The Dutch bank INGwhich carries out extensive activities in Spain, although like the rest of its competitors such as Santander, BBVA, Caixabank, Bankinter, Banco Sabadell, Abanca or Unicaja Banco it is exempt from paying the special tax on banks, has registered a net according to the balance sheet published this Thursday From April to June this year, the company made a profit of 2,155 million euros, an increase of almost 83% compared to the same period of 2022, which is mainly due to the high interest rates in the last quarter, according to the bank.

Total interest income rose about 20% to about €4.1 billion in the most recent quarter, accompanied by a decrease in operating expenses as reported by ING, taking three-month net income to €2.155 million, up 83% from the previous quarter Previous year Same quarter of last year.

The higher interest income was mainly due to interest rate increases by the European Central Bank (ECB).

ING highlights the “continuing” challenges of 2023

“The second quarter of 2023 was characterized by ongoing challenges as economic sentiment weakened, geopolitical uncertainties persisted and inflation remained high, albeit less pronounced than in previous quarters,” said Steven van Rijswijk, the company’s CEO. Dutch.

However, he stressed that the company had “another quarter of loan growth and higher commission income” “despite the slowdown in the economy” and continued to “deliver solid results” as a bank.

In the last quarter, the bank acquired 227,000 customers, bringing the total number of customers to 14.9 million.

In addition, the number of mobile payment transactions was 37% higher than in the second quarter of 2022, while the proportion of customers who only transact with mobile with ING is now 60%.

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“In retail banking, we achieved good results in all of our markets. Deposit growth continued with a significant inflow of 17 billion euros in Germany, while in the Netherlands and Spain growth was driven by seasonal inflows,” van Rijswijk added.

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