Dutch financial giant ING Group reported that operational net profit rose 6.1% to $5.98 billion in 2001 (all amounts in Canadian dollars), but it declines to predict the year ahead.

Despite the worldwide economic slowdown, many ING businesses continued to expand, it says, though ING’s 2001 results were affected in several ways by the downturn in the global economy, September 11 attacks, crisis in Argentina and weaker equity markets.

“Our broad mix of businesses proved essential to conclude this difficult year with a 6.1% growth in operational net profit,” said executive board chairman Ewald Kist. “In 2002, performance improvement has absolute priority.”

Total assets for ING Group stood at $992.2 billion, up 8.5% during 2001. Shareholders’ equity declined 14.9% to $30.3 billion.

In the year ahead, ING will be focusing on the integration of insurers ReliaStar and Aetna in the U.S. Its efforts to adjust wholesale banking to new market realities will continue. And throughout ING Group, efficiency projects will work to lower costs and increase competitiveness.

The executive board is positive, but cautious about the economic outlook for the year ahead. Given the uncertainty about improvement of the economies in which ING is active, it is not making a profit forecast for 2002 yet.