Although the profit rise was less than 1%, analysts expected an 11% decline.
A surge in earnings from the group insurance operations boosted profits. Provisions for loan losses in the quarter rose to £190m. ING confirmed that its total exposure to Argentina is around £475m.
Profit from banking activity fell 22.4% compared to the same period last year.
ING Beats Expectations
Dutch financial services group ING has reported a better than expected rise in first quarter earnings. Net income for the quarter was £666m.
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