- ING posted good second quarter earnings, with a small core operating beat magnified by a larger reserve release.
- Management has gotten the go-ahead to start returning meaningful cash to shareholders, though there are still details to be worked out between cash returns and buybacks.
- With a solid record of share gains in markets like Germany, Australia, Poland, and Spain, I see more growth potential here.
- ING shares can deliver a double-digit annualized return on near-term growth in the mid-single-digits and longer-term growth around 2% to 3%.
For further details see:
ING Returning Capital Today, Returning To Growth Tomorrow