- Coronavirus: The Fed lowers rates by surprise at the impact and the bags moderate their optimism
- CORONAVIRUS. Internal alert in the big company: "Lack of supplies in 2-3 weeks and factory shutdown"
The CEO of ING in Spain and Portugal, Roel Huisman , has recommended that investors look in the long term and keep calm because today nobody is able to predict what the direct or indirect impact on the real economy of the coronavirus will be.
The Dutch entity has confessed that the rate cut approved yesterday by the Fed caught them "by surprise" but they hope it will be a positive stimulus to regain confidence and revive the world economy against the slowdown in China and Europe.
The head of the business in the Iberian Peninsula has recognized a direct impact on investment funds due to the exit of some clients. "Nothing that does not respond to the normal dynamics of the market these days," has affected.
ING obtained a net profit of about 186 million euros (258 million euros gross) in Spain and Portugal during the year 2019, which represents 14% more than the 163 million euros accounted for a year earlier.
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The Spanish and Portuguese subsidiary has added 3% of clients in the year, up to a total of 4 million, for which more than half (2.3 million) is its main bank by having a payroll account (+ 7% interannual).
Regarding financing, the bank has granted 230,000 consumer loans, with a gross production of 2.3 billion euros. Mortgages, meanwhile, have grown by more than 12% and the concession has been about 3,500 million euros.
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