ING Group, the Dutch financial services provider, matched its performance in 2001 when it reported operational net profits of €4.3bn ($4.7bn) in 2002 despite suffering a 32% fall in banking profits before tax.

Pre-tax profits from wholesale and retail banking fell to €1.5bn from €2.2bn in 2001, while net banking profits fell by 38% to €895m from €1.4bn a year ago following a 91% rise in loan loss
provisions for the year to €1.4bn. Earnings from banking rose by €90m to €11.2bn for the year despite a slight drop in fee income.

Vivek Ahuja

ING Group

Pharmacy Chain 36.6

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Tricks of the trade gain new importance as 401(k) accounts open up to alternative investments.

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The bank’s economists had predicted tariffs could cause inflation and slow economic growth.

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ING suffers 32% slump in banking profits

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