ING Groep NV's German business is growing very well independently, the Dutc...
AMSTERDAM - ING Groep NV’s German business is growing very well independently, the Dutch bank’s chief executive said on Thursday, declining to comment on media reports it might be interested in buying Germany’s Commerzbank.
Sources familiar with the matter have said both ING and Italy’s UniCredit expressed an interest in Commerzbank before merger talks between Germany’s second-biggest bank and its larger rival Deutsche Bank collapsed last month. “In markets where we are already a player, if consolidation starts to happen, we’ll have to take a look at our position and what consequences that would have,” he said.Underlying net profit at the largest Netherlands-based bank fell 6.1 percent to 1.12 billion euros in the three months ended March 31, hit by higher provisions and low interest rates in its core markets.ING’s shares were little changed at 11.38 euros at 0915 GMT.
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