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MarketScreener Homepage  >  Equities  >  Euronext Amsterdam  >  ING Groep N.V.    INGA   NL0011821202

ING GROEP N.V.

(INGA)
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ING: Transaction named in 'FinCEN' leaks was administrative mistake

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09/23/2020 | 05:45am EDT

ING Group NV on Wednesday hit back at reports citing the "FinCEN Files," that said a Polish ING subsidiary had altered the name of a Russian sender on sanctions blacklists on a large payment in 2014 in order to conceal the sender's identity.

But ING said in a statement on Wednesday those reports were misleading: what actually happened, the company said, was that the name of a sanctioned entity had accidentally been added to one field of a transaction in 2014. The mention was erroneous, was correcly stripped, and the transaction proceeded.

"This has been discussed with relevant U.S. authorities in 2014 and no further action has been taken," ING said.

A series of articles called the "FinCEN Files," launched onSunday by Buzzfeed News and the International Consortium ofInvestigative Journalists (ICIJ), detailed how several globalbanks moved large sums of allegedly illicit funds for decadesdespite red flags. The series sent bank stocks tumbling onMonday and prompted new calls for legislative reform.

ING shares, down 44% year to date, fell more than 9% on Monday after the reports first surfaced.

(Reporting by Toby Sterling, editing by Louise Heavens)


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Financials
Sales 2020 18 026 M 21 331 M 21 331 M
Net income 2020 2 527 M 2 990 M 2 990 M
Net Debt 2020 - - -
P/E ratio 2020 10,3x
Yield 2020 4,80%
Capitalization 25 706 M 30 428 M 30 419 M
Capi. / Sales 2020 1,43x
Capi. / Sales 2021 1,43x
Nbr of Employees 55 000
Free-Float 100,0%
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Technical analysis trends ING GROEP N.V.
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Consensus
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Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 8,31 €
Last Close Price 6,59 €
Spread / Highest target 97,2%
Spread / Average Target 26,1%
Spread / Lowest Target -31,6%
EPS Revisions
Managers
NameTitle
Steven van Rijswijk Chief Executive Officer
Gerardus Johannes Wijers Chairman-Supervisory Board
Tanate Phutrakul Chief Financial Officer
Mariana Gheorghe Member-Supervisory Board
Margarete Haase Member-Supervisory Board
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