AllAnalyst Report
logoMorningstarMay 06, 2021

ING Groep N.V.: ING Reports Comfortable First-Quarter Earnings Beat

Symbols
ING
Sector(s)
Financial Services
Rating
Current Price
$12.98
Fair Value
Economic Moat
Stewardship
Summary

The merger of the Dutch postal bank and NN Insurance in 1991 created ING. Through a series of further acquisitions ING build up a global footprint. The 2008 financial crisis forced ING to seek government support--a precondition of which was that ING should separate its banking and insurance activities, which saw ING revert to being solely a bank. ING has market-leading banking operations in the Netherlands and Belgium, and a range of digital banks across Europe and Australia. Its global wholesale banking operation is primarily focused on lending.

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Analyst Profile

Johann Scholtz

Equity Analyst
Johann Scholtz is an equity analyst for Morningstar, Holland B.V., a wholly owned subsidiary of Morningstar, Inc. He covers European banks. Before joining Morningstar in 2017, Scholtz spent 11 years covering various sectors in South Africa as a buy- and sell-side analyst.Scholtz holds a Bachelor of Commerce degree in Finance from Stellenbosch University. He holds the Chartered Financial Analyst® designation and he is a Chartered Accountant CA(SA).