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Dutch bank and insurer ING Group reported a profit decline of 22 percent in the second quarter of 2012 on Wednesday.
ING posted a net profit of 1.17 billion euros (1.45 billion U.S. dollars), compared to 1.5 billion euros (1.86 billion dollars) in the second quarter of last year.
The underlying result before tax of the banking operations amounted to 995 million euros (1233.8 million dollars), a decline of 13.1 percent year on year.
The operating result of the insurance division was 304 million euros (377 million dollars) and the underlying result before tax was 229 million euros (284 million dollars).
Despite the meagre figures, Jan Hommen, CEO of ING Group, remained optimistic.
"ING posted solid second-quarter results," he said in a press release. "In these uncertain times, the financial strength of the company is our highest priority: capital, liquidity and funding have all improved." |
