AMSTERDAM—ING Groep NV said Wednesday that its profit rose in
the second quarter as the Dutch lender expanded its loan book,
booked a gain from an asset sale and reduced its loan-loss
provisions.
The Netherlands' largest bank by assets said net profit rose 27%
to €1.36 billion ($1.49 billion), lifted by a €376 million gain
tied to the sale of its stake in Vysya Bank, an Indian lender.
Underlying pretax profit, which strips out divestments and other
special items, rose 25% to €1.6 billion.
The results, which were slightly below analysts' expectations,
were boosted by continued growth of ING's lending book, which led
to an increase in net interest income of 4% to €3.1 billion, while
loan-loss provisions dropped 13% to €353 million. This was partly
offset by a decline in commission income, which fell 2% to €584
million.
Write to Maarten van Tartwijk at maarten.vantartwijk@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires