The positive news in our view is the dividend... however, the headline net profit looks light. |
We believe there was insufficient detail in the brief press release to draw strong conclusions about the quality of the fourth-quarter results. |
We believe this will be another quarter of solid results for ING, further adding to our belief that earnings should remain resilient in 2006. |
We have adopted a more positive stance in retail and wholesale banking following strong cost containment in 2006. |