Dutch financial services giant, International Nederlanden Groep NV (ING), posted a 28 per cent increase in half year net profit yesterday as more buoyant financial markets enhanced results from banking.

ING also warned that earnings growth would slow in the second half of 1996 to about 17 per cent but bowed to market pressure by offering more details on the performance of Barings, the crisis torn British merchant bank it bought last year.

ING said net profit in the six months to June 30th was 1.51 billion guilders (£.5 billion), up from 1.18 million a year earlier and in line with expectations.