ING and Fortis announced Thursday that the two banks received higher second-quarter earnings that had been bolstered by increased profit from banking and gains from investments.
Net income at ING rose 30% to EUR2.01 billion, or $2.59 billion, the company said. Fortis’ earnings climbed 33% to EUR1.39 billion. Profit at both companies exceeded estimates made by industry analysts.
ING attributes the profits to its expansion in Internet banking and increased sales in Asia of pensions and life insurance.
At Fortis, the bank says it may increase its earnings forecast because the company was growing faster than previously expected.