ING bank targets 4%-5% growth by 2027 despite higher costs

June 17 (Reuters) – Dutch bank ING (INGA.AS), opens new tab targets total income growth of between 4% and 5% per year until 2027, driven by an expected increase in revenues from net interest income and fees, while reduced loan losses should offset higher costs, the group said on Monday.

An expected fall in interest rates this year could erode profits across the sector. ING reported a slight dip in profit in the first quarter of 2024 from last year’s levels.