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ING falls as Q3 miss eclipses €1.9 bln distribution plan

By Reuters News12 hours ago Updated

** Shares in ING INGA.AS fall around 3.5% despite the Dutch bank unveiling a new €1.9 billion ($2.1 billion) capital distribution plan, as investors focused on third-quarter results missing expectations across the board

** The lender's quarterly net profit of €1.85 billion missed the company-compiled consensus of €1.97 billion, with total income of €6.28 billion missing the estimate of €6.31 billion

** RBC says the miss was driven by weaker-than-expected other income, while loan losses were also above expectations due to an IFRS model update

** "While ING has reported solid results, the expectations were slightly too ambitious," KBC Securities says in a note

** Up to the previous session's close, shares were up 22.6% YTD - LSEG data

** The stock trades at the bottom of Amsterdam's AEX Index .AEX

($1 = 0.8971 euros)

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