By Michael Susin

 

ING Bank NV said Monday that it expects total income growth to increase an average of 3% a year, as it updated its targets for the period between 2022 and 2025.

The Dutch multinational bank said it is targeting annual average fee income growth of between 5% and 10%.

It also expects a common equity Tier 1 ratio--the comparison of the bank's capital against its assets--of around 12.5%, and a return on equity of 12%, ING said.

"In addition to these financial targets, we have set a target for our commitment to support our wholesale banking clients in their green transition and commit to mobilize 125 billion euros ($131.47 billion) of sustainable finance per annum by 2025," Chief Executive Officer Steven van Rijswijk said.

 

Write to Michael Susin at michael.susin@wsj.com

 

(END) Dow Jones Newswires

June 13, 2022 02:38 ET (06:38 GMT)

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