Update shared on04 Oct 2025
Fair value Increased 1.25%Analysts have raised their price target for ING Groep from €22.20 to €22.48, citing stronger-than-expected deposit growth and improving net interest income outlooks as key factors supporting the upgrade.
Analyst Commentary
Bullish Takeaways- Bullish analysts cite ING Groep’s robust deposit growth, which has reached 7% year-over-year and stands as one of the fastest rates among European banks.
- Strong deposit performance and strategic reductions in offered rates are expected to drive a significant step up in net interest income growth beginning from the fourth quarter.
- Several price target upgrades, including from major firms like JPMorgan, reflect increased confidence in ING’s earnings trajectory and the sustainability of its recent improvements.
- ING has been named as a top pick among European banks, with growing optimism regarding its competitive positioning and ability to execute on growth initiatives.
- Despite upward revisions, some analysts remain cautious and maintain neutral or hold ratings, indicating concerns around valuation relative to peers.
- Persistent banking sector headwinds, such as competitive pressure and macroeconomic uncertainty, continue to be highlighted as factors that could limit ING’s upside potential.
- Certain upgrades are paired with moderate price targets, suggesting lingering reservations about the sustainability of current growth rates.
What's in the News
- DBS Bank Ltd. has been named as the Co-Lead Underwriter for ING Groep N.V.'s $1.5 billion fixed-income offering (Key Developments).
- Between May 2, 2025, and June 30, 2025, ING completed a buyback of 40,200,000 shares, representing 1.32% of shares, for €738 million under its previously announced program (Key Developments).
- Tanate Phutrakul, CFO of ING Groep N.V., will step down at the AGM in April 2026 after 24 years at the company. The search for his successor is underway (Key Developments).
Valuation Changes
- Consensus Analyst Price Target has risen slightly, increasing from €22.20 to €22.48.
- Discount Rate has fallen modestly, moving from 6.34% to 6.29%.
- Revenue Growth projections have increased by a small margin, now at 8.98% compared to the previous 8.93%.
- Net Profit Margin has edged higher, rising from 27.13% to 27.18%.
- Future P/E Ratio is marginally higher, increasing from 10.12x to 10.20x.
Disclaimer
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