{ }
Ukraine's banking system, while stable, is too small and undercapitalized to drive the country's post-war recovery, according to Oleksandr Pysaruk, Board Chairman of Raiffeisen Bank Ukraine. With total assets at about 60% of GDP and a loan portfolio at only 15%, significant recovery efforts will require attracting international creditors and investors, as the banking sector alone cannot meet the estimated $486 billion recovery costs. Pysaruk emphasizes the importance of maintaining a favorable corporate tax rate for banks and the role of international financial institutions in mobilizing necessary resources.
UBS has increased its target price for ING Group from €20.60 to €21.00 while maintaining a "Buy" rating. Analyst Johan Ekblom highlighted the market's underestimation of the Dutch bank's growth potential, particularly in Germany, and anticipates a significant profit increase by 2026.
ING Groep N.V. is the leading financial services group in the Benelux, with retail banking contributing 66.7% to its revenues. The group's revenue distribution includes 33.2% from the Netherlands, 20.9% from Germany, and 17.8% from Belgium. By the end of 2023, it is projected to manage EUR 650.3 billion in deposits and EUR 642.4 billion in loans.
UBS has increased its price target for ING from €20.60 to €21.00, maintaining a "Buy" rating. Analyst Johan Ekblom highlighted the market's underestimation of the Dutch bank's growth potential, particularly in Germany, and anticipates a significant profit increase by 2026.
UBS has maintained a Buy rating on ING Group, raising its price target to EUR21.00, citing a projected 10% CAGR in EPS through 2027, significantly above the sector average. Despite recent revenue challenges, ING reported record total income and plans to distribute €2.5 billion to shareholders, reflecting its commitment to sustainable financing and shareholder value.
ING Group will present its quarterly results for the period ending September 30, 2024, at a financial conference on October 31, 2024. Analysts forecast average earnings per share of EUR 0.509, down from EUR 0.560 year-over-year, with a projected sales decrease of 3.18% to EUR 5.66 billion. For the current fiscal year, average earnings per share are expected to rise to EUR 1.98, while total turnover is estimated at EUR 22.44 billion, significantly lower than the previous year's EUR 60.19 billion.
Barclays has downgraded ING Group shares from "overweight" to "equal-weight" and reduced the price target from €21 to €19.50, citing concerns over the impact of low interest rates on the bank's net interest income. Following this cautious outlook, ING shares fell by 1.45% to €15.65 in Amsterdam. The European Central Bank's recent interest rate cuts are expected to continue, posing further challenges for traditional banking operations.
ING shares are under pressure due to a deteriorating economic outlook, despite better-than-expected Q3 results. The stock is testing crucial support at €14.50, with a potential bearish reversal if it falls below this level, targeting €12.00. Upcoming eurozone economic data will be pivotal for the bank"s performance.
IG
Santander has significantly expanded its US investment banking operations, increasing staff from 900 to about 1,300, largely through hiring former Credit Suisse bankers. The firm has focused on leveraged finance, completing 110 deals this year, and aims to enhance its market position while maintaining its culture. Despite upfront costs and a recent pretax loss in the US arm, the investment bank has become a crucial revenue contributor, accounting for nearly 14% of the group"s income.
Sükriya Aclan has been appointed as the new Head of Wealth Management at UBS Germany, taking over from Philipp Neuhofen. Aclan, who has a background with Dresdner Bank, Commerzbank, and Oddo BHF, will oversee the bank's wealthiest private clients in Germany.In other leadership changes, Björn Jesch has left DWS, with Vincenzo Vedda stepping in as global Chief Investment Officer. Sven Württemberger has been named as Jesch's successor as Head of Switzerland at DWS. Nikolaus Maximilian Linaric will join the Executive Board of ING Germany in December, while Rainer Mellis has resigned from Volksbank Düsseldorf Neuss amid a fraud case. Additionally, Stephan Manz has moved to Aareal Bank as Chief Operating Officer.
Trending
Subcategory:
Countries:
Companies:
Currencies:
People:

MachinaCore is a highly modular and scalable system that allows users to build custom widgets and tools tailored to their specific financial data needs, while seamlessly integrating with other MachinaLabs products, like Machinary, MachinaAI Modules and MachinaTrader.

Address

Waitlist

We’re granting exclusive early access to the first 500 users from december 20.

© 2024 by Machinary.com - Version: 1.0.0.0. All rights reserved

Layout

Color mode

Theme mode

Layout settings

Seems like the connection with the server has been lost. It can be due to poor or broken network. Please hang on while we're trying to reconnect...
Oh snap! Failed to reconnect with the server. This is typically caused by a longer network outage, or if the server has been taken down. You can try to reconnect, but if that does not work, you need to reload the page.
Oh man! The server rejected the attempt to reconnect. The only option now is to reload the page, but be prepared that it won't work, since this is typically caused by a failure on the server.