ING, the Dutch insurer, has posted a 23% fall in securities commission and 11.7% fall in brokerage and advisory fees for the first six months of the year, in contrast to European investment banks UBS and Credit Suisse First Boston which saw rises in fee income.

Securities commission fell to €326m ($255m) from €423m in the first half of 2002, and brokerage and advisory fees fell to €94m from €84m.