AMSTERDAM (Reuters) - ING Groep NV, the largest Dutch bank, said on Monday its aimed to achieve 3% annual income growth for the period 2022 to 2025 as part of its mid-term financial targets.
It would also target a cost/income ratio of 50-52% and a return of equity of 12% by 2025, it said in a statement before a meeting with investors.
ING's income rose 4.8% in 2021, while the cost/income ratio was 60.5% in 2021 and return on equity was 9%. In the first quarter, the bank reported rising provisions for bad loans in Russia and Ukraine. [L2N2WY09U]
(Reporting by Toby Sterling; Editing by Edmund Blair)