ING Groep NV took a lower-than-expected impairment charge of 194 million euros, or $286 million, on riskier investments in its fourth-quarter results today, Reuters reported.

An increase of 1.03 billion euros on the sale of its stake in rival ABN AMRO Holding N.V. to a consortium of three banks in October helped offset the impairment charge. ING also booked gains from ABN and other asset sales in the third quarter.

The Dutch financial services group’s shares rose as much as 5.6 percent, beating a lower market, after the company said net profits climbed 18 percent in the quarter from a year earlier to 2.48 billion euros, or 1.18 euros per share. Net profits beat analysts’ average forecast of 2.34 billion euros, or 1.12 euros per share. Analysts had expected ING to take a charge of 200 million to 1 billion euros on its riskier investments, including residential mortgage-backed securities in subprime mortgages made to risky borrowers and “Alt-A” loans, which are made to borrowers with a better credit profile, as well as from collateralized debt obligations.

ING’s writedown was smaller than those of its European rivals, including Credit Suisse Group, which took a $2.85 billion charge this week on its asset-backed investments, and HSBC HLDGS PLC ADS, which took an $880 million charge last year. U.S. banks have written off even larger amounts in the credit crisis, set off last year by widespread defaults on mortgages provided to less creditworthy borrowers.

ING USA Annuity and Life Insurance Company is based in Des Moines.