Dutch banking major ING has seen a dip in net income in the first quarter compared to the same period of last year, the company reported on Thursday.
The bank's first-quarter of 2024 net result was €1.578 billion ($1.69 billion) down from €1.591 billion in the prior year.
It also announced a share buyback programme of €2.5 billion.
Based on current assumptions and scenarios, total income in 2024 to remain strong in a positive rate environment albeit somewhat lower than in 2023.
The company aims to increase fee income by 5%-10%, ING said in a statement.
Total income for the first-quarter of 2024 was €5.583 billion, up 0.3% from the prior year.
Growth was supported by sustained momentum in both retail banking and wholesale banking.
ING said it added 99,000 primary customers this quarter, comprising new and existing customers who have chosen to have a payment account and at least one other product with the company.
