Dutch banking giant ING Groep NV (NYSE:ING) hasn't been ignored over the past year by any means. As the company has continued to make solid progress with its restructuring efforts, the U.S.-listed ADRs have risen more than 50%, surpassing most of the Nordic banks but not quite matching the torrid run in the Spanish banks. Even with that significant run, I don't think today's price fully reflects the company's potential to return to double-digit ROEs relatively quickly nor its solid underlying RoTEs. Although ING won't likely pay a dividend for at least a year and there could be some noise with the impending IPO of NN Group and the further sell-downs of SulAmerica and Voya (NYSE:VOYA)...
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