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Modest profit for ING in second quarter seen after Dutch Government
ING Groep NV is expected to post its first profit in a year when it reports second-quarter results tomorrow but analysts will be looking ahead to the schedule for the Dutch bancassurer's crucial asset sale programm. Analysts polled by Reuters on average expect a profit of euro 275 million after nearly euro 5 billion in losses the previous three quarters. Loan losses are expected to have declined only very slightly to ?euro 776 million. SNS Securities, in a recent note, said ING's markets look to have generally performed well in the second quarter, though not enough to have returned its insurance business to profitability.
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