NU Online News Service, Feb. 21, 10:29 a.m. – ING Groep N.V., Amsterdam, is reporting the equivalent of $4.7 billion in net income for 2002 on $80 billion in revenue, up from $4 billion in net income on $66 billion in revenue for 2001.
ING has insurance and banking operations throughout the world.
The insurance operations generated $3.5 billion in net income for 2002 on $68 billion in revenue, up from $2.5 billion in net income on $56 billion in revenue.
When stated in U.S. dollars, ING’s earnings benefit from a sharp increase in the strength of the euro relative to the dollar. At home, ING is reporting 4.5 billion euros in net income for 2002 on 77 billion euros in revenue, compared with 4.6 billion euros in net income on 74 billion euros in revenue for 2001.