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ING reports better-than-expected first-quarter bank results

Benefiting from recent volatility: ING CFO

ING, the Netherlands' largest financial group, reported stronger-than-expected first-quarter profit for its banking arm on Thursday, buoyed by both underlying growth and capital gains.

The group said underlying net result at its banking arm was 1.19 billion euros ($1.35 billion), up 43 percent from 830 million euros in the same period a year earlier.

Analysts polled by Reuters had forecast an underlying net result of 1.07 billion euros at banking.

ING Group, which still consolidates a 54.6 percent stake in insurer NN Group, reported a group net income of 1.77 billion euros.

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