ING Group, the largest Dutch bank, in its latest move today has announced its aim to achieve 3% annual income growth for the period 2022 to 2025 as part of its mid-term financial targets.
It would also target a cost/income ratio of 50-52% and a return of equity of 12% by 2025, it said in a statement before a meeting with investors.
ING’s income rose 4.8% in 2021, while the cost/income ratio was 60.5% in 2021 and return on equity was 9%. In the first quarter, the bank reported rising provisions for bad loans in Russia and Ukraine.
Meanwhile, oil prices on the international market slid today as a flare-up in COVID-19 cases in Beijing quelled hopes for a rapid pick-up in China’s fuel demand, while worries about global inflation and sluggish economic growth further depressed the market.
U.S. West Texas intermediate crude recorded a price decline of 1.55% to hit $118.80 per barrel. Brent crude now sells at $120.20 per barrel registering a downward price margin of 1.52%.
Bonny light’s performance is starting the week also in the red territory with a price drop of 1.87% selling at $127.00 per barrel.
For the OPEC Basket, crude oil dealers offer $127.00 per barrel recording a price uptick of 1.37%.
