ING posts underlying net profit of EUR 748 million in 2009
• ING returns to profi t in 2009: full-year underlying net result EUR 748 million vs. EUR -304 million in 2008
- Negative market impacts of EUR 4,742 million, down from EUR 6,674 million in 2008
- The full-year 2009 net result was EUR -935 million, or EUR -0.44 per share, including divestments and special items
• 4Q09 underlying net profi t of EUR 74 million, vs. a loss of EUR 3,093 million in 4Q08
- Negative market impacts decrease sharply to EUR 992 million vs. peak of EUR 5,045 million in 4Q08
- Result excluding market impacts, risk costs and variable annuity assumption changes was EUR 2,106 million, up 65% from 4Q08
- Special items includes EUR -930 million related to an accrual of additional future payments to the Dutch State for the Alt-A facility
- Divestments and special items brought 4Q09 net result to EUR -712 million or EUR -0.33 per share
• Bank posts 4Q underlying profi t before tax of EUR 132 million vs. loss of EUR 1,841 million in 4Q08
- Negative market impacts decrease to EUR 992 million from EUR 2,262 million in 4Q08
- Loan loss provisions increase to EUR 686 million in fourth quarter from EUR 576 million a year earlier
- Result excluding market impacts and risk costs up sharply to EUR 1,810 million from EUR 998 million in 4Q08
• Insurance posts 4Q underlying loss before tax of EUR 47 million vs. EUR 2,502 million loss in 4Q08
- Market impacts netted to nil compared with EUR -2,783 million in 4Q08
- Lapse assumption changes in US and Japanese variable annuity books lead to EUR 343 million charge in 4Q09
- Excluding market impacts and variable annuity assumption changes, results increase to EUR 296 million from EUR 281 million
• First phase of Back to Basics programme completed with all targets exceeded and risks reduced
- Operating expenses cut by EUR 1.5 billion in 2009 on a comparable basis
- Balance sheet of ING Bank reduced by 18%, or EUR 194 billion, vs. September 2008
• Shareholders’ equity increases by EUR 7.3 billion to EUR 33.9 billion, or EUR 8.95 per share, in 4Q09
- Successful EUR 7.5 billion rights issue enabled ING to repay half of Dutch State capital support
- Bank’s core Tier 1 ratio improves to 7.8%; debt/equity ratio for Group and Insurance reduced to 12.4% and 9.7%, respectively
- ING will not pay a dividend over 2009
tagliano corto, sarebbero in attivo come attività, ma con le varie spese straordinarie chiudono l'anno in loss
The full-year 2009 net result was EUR -935 million, or EUR -0.44 per share, including divestments and special items