ING Slumps After Warning Net Interest Income May Decline (3)

ING Groep NV slumped the most in almost a year after the Dutch lender warned its key revenue source will weaken as it passes on higher rates to depositors.

Net interest income, or the difference between what it gets on loans and pays for deposits, will probably decline to €15 billion ($16.2 billion) to €15.5 billion this year from €16 billion in 2023, it said in a presentation on Thursday. The metric missed estimates in the fourth quarter.

ING also warned its total income in 2024 will be “somewhat lower” than the previous year. The shares fell as much as ...