Fitch turns ING Groep view to stable

Fitch Ratings said it revised the outlooks on ING Groep NV and ING Bank NV to stable from negative and affirmed the long-term issuer ratings at A+ and AA-, respectively.

“The revision of the outlooks reflects the group's better than anticipated financial performance during the pandemic and the stabilization of the Dutch and Belgian operating environments. Fitch's updated economic assumptions for the Netherlands and other core countries for the group indicate strong economic recovery, despite some remaining risks related to the pandemic, supply chain disruptions and rising energy prices. Consequently, we believe that downside pressure on ING Groep's profitability, asset quality and capitalization has receded,” the agency said in a press release.

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