Duyuru • Jul 31
ING Groep N.V., Annual General Meeting, Apr 13, 2027 ING Groep N.V., Annual General Meeting, Apr 13, 2027. Reported Earnings • Jul 31
Second quarter 2026 earnings released: EPS: €0.68 (vs €0.82 in 2Q 2025) Second quarter 2026 results: EPS: €0.68 (down from €0.82 in 2Q 2025). Revenue: €6.01b (down 7.2% from 2Q 2025). Net income: €1.95b (down 21% from 2Q 2025). Profit margin: 32% (down from 38% in 2Q 2025). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Jul 08
ING Groep N.V. (ENXTAM:INGA) agreed to acquire 40% stake in Singular Bank, S.A.U. from Warburg Pincus LLC. ING Groep N.V. (ENXTAM:INGA) agreed to acquire 40% stake in Singular Bank, S.A.U. from Warburg Pincus LLC on July 6, 2026. Post transaction, ING Groep N.V.’s non-controlling stake in Singular Bank, S.A.U. following completion of the transaction is expected to be 40%, depending on a planned additional investment by Singular Bank management.
Singular Bank, S.A.U. will continue to be led by its Chief Executive Officer, Javier Marín.
The transaction is subject to approval by regulatory board / committee. The expected completion of the transaction is in the first quarter of 2027. The transaction is expected to have a minimal impact on ING Groep N.V.’s CET1 ratio.
ING Corporate Finance acted as financial advisor for ING Groep N.V. Duyuru • Jun 18
Ing Group Announces Executive Changes ING Group had appointed Bob Bakker as head of Investor Relations. Bob Bakker had been part of ING’s Investor Relations team since 2019, most recently as Senior Investor Relations Officer. During this time, he played a key role in shaping ING’s investor relations strategy and financial communication, building strong relationships with institutional investors, analysts and rating agencies, and advising the Executive Board on ING’s equity story and shareholder engagement. Prior to joining Investor Relations, he held several senior finance roles within ING, including head of Finance Business Partnering at ING Bank Romania and head of Finance Management Information & Advice at ING Group. As head of Investor Relations, he will report directly to ING’s chief financial officer, Ida Lerner. ING Group had also announced that Sjoerd Miltenburg, the outgoing head of Investor Relations, had been appointed head of Wholesale Banking in the Netherlands. Duyuru • Jun 15
ING Groep N.V. Announces Executive Changes ING Groep N.V. announced that Hilde Garssen would be appointed to the Management Board Banking (MBB) as chief human resources officer (CHRO), effective September 1, 2026. Hilde Garssen is currently chief people officer and a member of the Board of Management at KPN. She will succeed Ruth McGill, who left ING in November 2025. Isaac Vitini has overseen the CHRO role on an ad interim basis since then. Hilde Garssen has more than 25 years of experience across the banking and telecommunications sectors. She has held chief human resources officer roles at KPN and ABN AMRO. At KPN, Hilde has been the chief people officer since 2018 and a member of the Board of Management since 2019. Before joining KPN, Hilde spent 19 years at ABN AMRO in senior HR and transformation roles. The appointment of Hilde Garssen has been approved by the European Central Bank. Duyuru • Jun 10
ING Groep N.V. Rolls Out Global Subscription Banking Model ING Groep NV announced a new global subscriptions model designed to make daily banking easier and deliver greater value for customers. The approach reflects changing customer expectations, with research showing a growing demand for simplicity, transparency and benefits that fit everyday life. Four plans ING Go, ING More, ING Extra and ING Max are introduced under one brand across all nine retail markets covering 41 million customers (Netherlands, Belgium, Germany, Spain, Italy, Australia, Poland, Romania, Türkiye). Each subscription plan combines everyday banking with additional features and lifestyle benefits that customers would otherwise arrange separately. The features included in each plan will be tailored per market, based on what customers value most locally. The new model also introduces premium plans, allowing customers to select a plan that includes a broader set of higher-value banking and lifestyle benefits. Examples include an enhanced card offer (debit and credit card in one plan), additional banking and investment benefits, comprehensive insurance cover, and partner-enabled extras such as streaming services, travel-related benefits, as well as loyalty and cashback features. By combining banking services with these added benefits in a single proposition, ING Groep NV aims to offer customers greater convenience, flexibility and value. Following launches in Belgium, Poland and Romania, the model is expanding market by market, with the Netherlands going live as part of a phased international rollout across retail markets. Including customers migrated from existing offerings, there are already 3 million customers enjoying the benefits of the new plans. With over 600bln in Retail banking customer deposits, the move marks an important step in the strategy to evolve from product-based banking towards more relationship-based customer propositions, combining banking, protection and lifestyle benefits within a single offering. The model is also aligned with the strategy to scale across markets, with the flexibility to stay relevant locally. Duyuru • Jun 09
ING Groep N.V. Announces Executive Changes ING Groep N.V. announced that Andrea Cesaroni will be appointed chief risk officer of ING. Andrea has been the head of Integrated Risk at ING since 2022 and additionally took on the role as head of Risk ad interim since 24 February 2026, reporting to the CFO, when former CRO Ljiljana Cortan took on her new role as head of Wholesale Banking. As announced earlier, Ljiljana Cortan will at the same moment step down from the Executive Board. Andrea joined ING in 2022 as head of Integrated Risk with overall responsibility for the risk management policies, frameworks and governance, including ESG risk, risk modelling and capital adequacy process. He has also been overseeing ING’s day-to-day risk management activities as head of Risk ad interim since 24 February 2026. Andrea has over 25 years of experience in financial services and risk management. He joined ING from UniCredit, where he was head of Group Financial Risk and later head of Group Risk Models & Credit Risk Governance, where he was responsible for credit and financial risk analytics as well as group-wide credit policies and lending guidelines. Before joining UniCredit he was a consultant at Deloitte and Arthur Andersen. Andrea is Italian and holds a Bachelor’s in Economics from the University of Rome and an MBA from the University of Bologna Business School. New Risk • May 04
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.2% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.2% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. New Risk • May 02
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.3% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.3% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • May 02
First quarter 2026 earnings released: EPS: €0.54 (vs €0.47 in 1Q 2025) First quarter 2026 results: EPS: €0.54 (up from €0.47 in 1Q 2025). Revenue: €5.48b (up 2.9% from 1Q 2025). Net income: €1.56b (up 6.9% from 1Q 2025). Profit margin: 28% (up from 27% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 30% per year, which means it is well ahead of earnings. Upcoming Dividend • Apr 09
Upcoming dividend of €0.74 per share Eligible shareholders must have bought the stock before 16 April 2026. Payment date: 24 April 2026. Payout ratio is a comfortable 39% but the company is not cash flow positive. Trailing yield: 5.1%. Within top quartile of Austrian dividend payers (4.2%). Higher than average of industry peers (2.0%). Duyuru • Mar 17
ING Groep N.V. has filed a Follow-on Equity Offering. ING Groep N.V. has filed a Follow-on Equity Offering.
Security Name: Floating Rate Notes due 2032
Security Type: Corporate Bond/Note
Security Features: Callable; EuroBonds; Eurodollar bonds; Floating Rate; Senior; Unsecured; Unsubordinated Reported Earnings • Mar 02
Full year 2025 earnings released: EPS: €2.78 (vs €1.65 in FY 2024) Full year 2025 results: EPS: €2.78 (up from €1.65 in FY 2024). Revenue: €24.5b (up 22% from FY 2024). Net income: €8.32b (up 56% from FY 2024). Profit margin: 34% (up from 27% in FY 2024). The increase in margin was driven by higher revenue. Net interest margin (NIM): 1.60% (down from 1.70% in FY 2024). Non-performing loans: 1.77% (down from 1.93% in FY 2024). Revenue is forecast to grow 3.6% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. New Risk • Mar 02
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.8% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.8% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Duyuru • Feb 06
ING Groep N.V. Announces Executive Changes ING Groep N.V. announced that Ljiljana Cortan will be appointed head of ING Wholesale Banking, effective February 24, 2026. She is succeeding Andrew Bester, who, as announced last October, is returning to the UK to start the non-executive phase of his career. Having completed the handover of the Wholesale Banking activities, Andrew Bester will step down from the Management Board Banking on February 24, 2026. As of February 24, 2026, Ljiljana Cortan will leave her position as chief risk officer (CRO), which she assumed in 2021. The selection process for a new CRO is underway. Until the appointment of a successor, Ljiljana will remain a member of the Executive Board, with ING’s chief financial officer temporarily assuming responsibility for risk on the Executive Board. The day-to-day risk management activities until a CRO is appointed will be performed by Andrea Cesaroni, currently head of Integrated Risk, who will, in the ad interim role of head of risk, report to the CFO. Andrea has over 25 years of experience in financial services and risk management. He joined ING in July 2022 and was appointed to his current role, responsible for risk management policies, frameworks and governance, including ESG risk, risk modelling and capital adequacy assessment. He joined ING from UniCredit, where among other roles he was head of Group Financial Risk and later he was head of Group Risk Models & Credit Risk Governance. Before joining UniCredit he was a consultant at Deloitte and Arthur Andersen. The appointment of Ljiljana Cortan as head of Wholesale Banking has been approved by the European Central Bank. Declared Dividend • Feb 01
Fourth quarter dividend of €0.74 announced Shareholders will receive a dividend of €0.74. Ex-date: 16th April 2026 Payment date: 24th April 2026 Dividend yield will be 5.1%, which is higher than the industry average of 4.6%. Sustainability & Growth Dividend is covered by earnings (51% payout ratio) and is expected to be covered in 3 years' time (51% forecast payout ratio). The dividend has increased by an average of 26% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 34% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jan 30
Full year 2025 earnings released: EPS: €2.12 (vs €1.65 in FY 2024) Full year 2025 results: EPS: €2.12 (up from €1.65 in FY 2024). Revenue: €21.7b (up 8.4% from FY 2024). Net income: €6.33b (up 19% from FY 2024). Profit margin: 29% (up from 27% in FY 2024). The increase in margin was driven by higher revenue. Net interest margin (NIM): 1.36% (down from 1.70% in FY 2024). Cost-to-income ratio: 54.6% (up from 53.6% in FY 2024). Non-performing loans: 1.57% (down from 1.93% in FY 2024). Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has increased by 26% per year, which means it is well ahead of earnings. Duyuru • Jan 30
ING Groep N.V. Provides Earnings Guidance for the Year 2026 and 2027 ING Groep N.V. provided earnings guidance for the year 2026 and 2027. For the year 2026, the company expects total income to grow to around EUR 24 billion. This outlook is supported by continued volume growth and an anticipated 5% to 10% increase in fee income.
For the year 2027, the company expects total income to exceed EUR 25 billion, which is at the upper end of previous target range, including a higher fee income target, which the compay now expects to exceed EUR 5 billion in 2027. Duyuru • Jan 29
Ing Groep N.V. Proposes Final Dividend for the Year 2025 ING Groep N.V. proposed final cash dividend over 2024 of €0.736 per share. Duyuru • Jan 20
ING Groep N.V. Announces Resignation of Herna Verhagen from Supervisory Board ING Groep NV announced that Herna Verhagen will resign from the Supervisory Board as of the end of the 2026 annual general meeting. Herna Verhagen was appointed to the Supervisory Board at the AGM in April 2019 and started in her role effective 1 October 2019. She will leave ING to accept a board nomination at another listed financial services firm. In her role as Supervisory Board member, Herna is also chairwoman of the Remuneration Committee and member of the Nomination and Corporate Governance Committee and the Risk Committee. Duyuru • Jan 06
ING Announces Cash Distribution, Payable on 15 January 2026 ING announced on January 5, 2026 that it will pay EUR 0.172 per share on 15 January 2026, as part of the up to EUR 1.6 billion distribution to shareholders as announced on 30 October 2025. The amount per share has been determined based on the total cash payment of EUR 500 million and the 2,902 million ordinary shares outstanding on 31 December 2025. Duyuru • Nov 01
ING Groep N.V. to Report Q1, 2026 Results on Apr 30, 2026 ING Groep N.V. announced that they will report Q1, 2026 results on Apr 30, 2026 Reported Earnings • Oct 31
Third quarter 2025 earnings released: EPS: €0.60 (vs €0.59 in 3Q 2024) Third quarter 2025 results: EPS: €0.60. Revenue: €5.57b (flat on 3Q 2024). Net income: €1.79b (down 4.9% from 3Q 2024). Profit margin: 32% (down from 34% in 3Q 2024). Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Banks industry in Europe. Duyuru • Oct 23
Ing Groep N.V. Announces Management Changes ING Groep N.V. announced Ljiljana Cortan will be appointed head of Wholesale Banking and succeed Andrew Bester no later than at the day of the Annual General Meeting in April 2026. Ljiljana is currently chief risk officer (CRO), member of the Executive Board and the Management Board Banking and will continue in these roles until the changes take effect, at which point she will step down from the Executive Board of ING Groep N.V. Ljiljana joined ING and took on her current role in 2021. She has more than 25 years of international banking experience in various positions in risk, corporate banking, strategy and business development, among others as head of Corporate and Investment Banking Strategy for Central and Eastern Europe and global head of Financial Institutions, Banks and Sovereigns at UniCredit. Before joining ING, she was a member of the Management Board and CRO at HypoVereinsbank, a subsidiary of UniCredit Germany. Andrew Bester joined ING in April 2021 with more than 30 years of experience in banking and professional services including executive roles at Lloyds, Standard Chartered and Co-operative Bank. The appointment of Ljiljana Cortan as head of Wholesale Banking is subject to regulatory approval. The search for a successor as CRO has been initiated, and announcements will be made in due course. Reported Earnings • Aug 01
Second quarter 2025 earnings released: EPS: €0.82 (vs €0.88 in 2Q 2024) Second quarter 2025 results: EPS: €0.82 (down from €0.88 in 2Q 2024). Revenue: €9.73b (up 40% from 2Q 2024). Net income: €2.46b (down 14% from 2Q 2024). Profit margin: 25% (down from 42% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.7% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has increased by 28% per year, which means it is well ahead of earnings. Duyuru • Aug 01
ING Groep N.V., Annual General Meeting, Apr 13, 2026 ING Groep N.V., Annual General Meeting, Apr 13, 2026. Duyuru • Jul 25
ING Groep N.V. (ENXTAM:INGA) completed the acquisition of additional 17.6% stake in Van Lanschot Kempen NV (ENXTAM:VLK) from Reggeborgh Groep. ING Groep N.V. (ENXTAM:INGA) agreed to acquire an additional 17.6% stake in Van Lanschot Kempen NV (ENXTAM:VLK) from Reggeborgh Groep on March 2, 2025. Upon completion, ING Groep N.V. will own 20.3% stake in Van Lanschot Kempen NV. Under the terms of the agreement, ING has directly acquired a stake of 7.2%, bringing its stake in Van Lanschot Kempen to 9.9%. The remainder of the transaction is subject to regulatory approval. The transaction is expected to have a minimal impact on ING’s CET1 ratio. As of July 24, 2025, the deal has received regulatory approval.
ING Groep N.V. (ENXTAM:INGA) completed the acquisition of additional 17.6% stake in Van Lanschot Kempen NV (ENXTAM:VLK) from Reggeborgh Groep on July 24, 2025. Reported Earnings • May 05
First quarter 2025 earnings released: EPS: €0.47 (vs €0.48 in 1Q 2024) First quarter 2025 results: EPS: €0.47 (down from €0.48 in 1Q 2024). Revenue: €5.32b (flat on 1Q 2024). Net income: €1.46b (down 7.8% from 1Q 2024). Profit margin: 27% (down from 30% in 1Q 2024). Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 27% per year, which means it is well ahead of earnings. Duyuru • Apr 23
Ing Groep N.V. Appoints Stuart Graham and Petri Hofsté to the Supervisory Board ING Groep N.V. in its annual general meeting held on April 22, 2025 approved the appointment of Stuart Graham and Petri Hofsté to the Supervisory Board. Upcoming Dividend • Apr 17
Upcoming dividend of €0.71 per share Eligible shareholders must have bought the stock before 24 April 2025. Payment date: 02 May 2025. Payout ratio is a comfortable 64% but the company is not cash flow positive. Trailing yield: 6.4%. Within top quartile of Austrian dividend payers (5.7%). Higher than average of industry peers (4.5%). Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €15.20, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 8x in the Banks industry in Europe. Total returns to shareholders of 97% over the past three years. Reported Earnings • Mar 07
Full year 2024 earnings released: EPS: €1.98 (vs €1.16 in FY 2023) Full year 2024 results: EPS: €1.98 (up from €1.16 in FY 2023). Revenue: €21.4b (up 22% from FY 2023). Net income: €6.39b (up 54% from FY 2023). Profit margin: 30% (up from 24% in FY 2023). The increase in margin was driven by higher revenue. Net interest margin (NIM): 1.70% (down from 1.90% in FY 2023). Cost-to-income ratio: 53.6% (up from 51.2% in FY 2023). Non-performing loans: 1.93% (up from 1.78% in FY 2023). Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 29% per year, which means it is well ahead of earnings. Duyuru • Mar 04
ING Groep N.V. (ENXTAM:INGA) agreed to acquire an additional 17.6% stake in Van Lanschot Kempen NV (ENXTAM:VLK) from Reggeborgh Groep. ING Groep N.V. (ENXTAM:INGA) agreed to acquire an additional 17.6% stake in Van Lanschot Kempen NV (ENXTAM:VLK) from Reggeborgh Groep on March 2, 2025. Upon completion, ING Groep N.V. will own 20.3% stake in Van Lanschot Kempen NV. Under the terms of the agreement, ING has directly acquired a stake of 7.2%, bringing its stake in Van Lanschot Kempen to 9.9%. The remainder of the transaction is subject to regulatory approval. The transaction is expected to have a minimal impact on ING’s CET1 ratio. Declared Dividend • Feb 09
Dividend of €0.71 announced Shareholders will receive a dividend of €0.71. Ex-date: 24th April 2025 Payment date: 2nd May 2025 Dividend yield will be 7.7%, which is higher than the industry average of 4.6%. Sustainability & Growth Dividend is covered by earnings (54% payout ratio) and is expected to be covered in 3 years' time (51% forecast payout ratio). The dividend has increased by an average of 24% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 25% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 07
Full year 2024 earnings released: EPS: €1.98 (vs €1.16 in FY 2023) Full year 2024 results: EPS: €1.98 (up from €1.16 in FY 2023). Revenue: €21.4b (up 22% from FY 2023). Net income: €6.39b (up 54% from FY 2023). Profit margin: 30% (up from 24% in FY 2023). The increase in margin was driven by higher revenue. Net interest margin (NIM): 1.45% (down from 1.90% in FY 2023). Cost-to-income ratio: 53.6% (up from 51.2% in FY 2023). Non-performing loans: 1.66% (down from 1.78% in FY 2023). Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Duyuru • Jan 28
ING Groep N.V. to Report Q2, 2025 Results on Jul 31, 2025 ING Groep N.V. announced that they will report Q2, 2025 results on Jul 31, 2025 Reported Earnings • Nov 01
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: €5.58b (down 1.5% from 3Q 2023). Net income: €1.88b (down 5.1% from 3Q 2023). Profit margin: 34% (down from 35% in 3Q 2023). Revenue is forecast to grow 8.3% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 5% per year. Duyuru • Oct 15
ING Appoints Uday Sareen as Head for Wholesale Banking in the APAC Region ING has announced the appointment of a head for wholesale banking in the APAC region. The Amsterdam-headquartered banking firm has appointed Uday Sareen to the position. He is to oversee operations in 11 markets within the region. Sareen has three decades of banking experience. Reported Earnings • Aug 02
Second quarter 2024 earnings released Second quarter 2024 results: EPS: €0.88. Revenue: €6.93b (up 44% from 2Q 2023). Net income: €2.88b (up 78% from 2Q 2023). Profit margin: 42% (up from 34% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 11% per year and the company’s share price has also increased by 11% per year. Duyuru • Aug 02
ING Groep N.V., Annual General Meeting, Apr 22, 2025 ING Groep N.V., Annual General Meeting, Apr 22, 2025. Duyuru • Jul 29
ING Announces Executive Changes ING announced the appointment of Daniele Tonella as chief technology officer (CTO) and member of the Management Board Banking, effective 5 August 2024. He will succeed Marnix van Stiphout who has held the role ad interim since 1 November 2023, in addition to his roles as chief operations officer and chief transformation officer. Daniele Tonella (Swiss) has over 20 years of experience in technology leadership roles in the financial industry and is currently active in advisory and board roles for several companies. From 2017-2021 he worked at UniCredit, including as group chief information officer and CEO of UniCredit Services. Before that he held various roles at AXA Group, Evalueserve and Swiss Life. He started his career as a consultant at Mercer and later at McKinsey & Company in Switzerland. Daniele holds a master’s degree in industrial engineering from the Eidgenössische Technische Hochschule Zürich in Switzerland and completed various executive education programmes at Harvard, IMD, INSEAD and MIT Sloan. The appointment of Daniele Tonella as chief technology officer and member of the Management Board Banking has been approved by the European Central Bank. Duyuru • Jul 02
ING Americas Announces Executive Changes ING announced two key appointments within its sector organization. Cindy Jia has been appointed head of Sustainable Finance for the Americas effective immediately. Based in New York, Cindy reports hierarchically to Matt Rosetti, head of Sectors Americas and functionally to Jacomijn Vels, ING's global head of Sustainable Finance. In her new role, Cindy will be responsible for building upon the team's industry-leading position in providing tailored advisory and financing solutions to support clients' sustainability projects and goals. Cindy will also be charged with continuing to evolve the team's mandate to meet ING's ambition of financing the sustainable transition and overseeing the implementation of ING's own sustainability strategy in the Americas region. Prior to rejoining ING in 2022 after an initial five-year stint in power project finance, Cindy spent seven years managing sister energy technology start-ups developing advanced heat exchangers and reactors which are critical components for a variety of energy transition applications. She holds a Bachelor's degree in Economics from the Wharton School of the University of Pennsylvania and a JD degree from St. Francis School of Law. Ana Carolina Oliveira, who previously held the Americas head of Sustainable Finance role, will now head Technology, Media, Telecom and Healthcare in the Americas reporting into Matt Rosetti. Ana Carolina is responsible for the overall strategy and continued investment in this critically important franchise in the Americas. Reported Earnings • May 05
First quarter 2024 earnings released: EPS: €0.48 (vs €0.44 in 1Q 2023) First quarter 2024 results: EPS: €0.48. Revenue: €5.32b (down 2.9% from 1Q 2023). Net income: €1.58b (flat on 1Q 2023). Profit margin: 30% (in line with 1Q 2023). Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Banks industry in Europe. Upcoming Dividend • Apr 17
Upcoming dividend of €0.76 per share Eligible shareholders must have bought the stock before 24 April 2024. Payment date: 03 May 2024. Payout ratio is on the higher end at 95%, however this is supported by cash flows. Trailing yield: 7.4%. Within top quartile of Austrian dividend payers (5.8%). Higher than average of industry peers (5.9%). Reported Earnings • Mar 11
Full year 2023 earnings released: EPS: €1.16 (vs €3.35 in FY 2022) Full year 2023 results: EPS: €1.16 (down from €3.35 in FY 2022). Revenue: €17.6b (down 40% from FY 2022). Net income: €4.14b (down 66% from FY 2022). Profit margin: 24% (down from 41% in FY 2022). The decrease in margin was driven by lower revenue. Net interest margin (NIM): 1.90% (up from 1.50% in FY 2022). Cost-to-income ratio: 51.2% (down from 60.3% in FY 2022). Non-performing loans: 1.78% (down from 1.80% in FY 2022). Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Duyuru • Mar 06
ING Americas Appoints Keith Tamayo as Managing Director, Head of North America Credit Sales to support Larger Expansion into ABS market ING Americas has announced the appointment of Keith Tamayo as Managing Director, Head of North America Credit Sales, as the company continues to expand its Capital Markets and Advisory (CMA) and Financial Markets offering in the Americas. In his new role, Keith will expand ING's coverage in investment grade securities as well as supporting the company's growth plans in the asset-backed securitization (ABS) market. ING will now actively provide ABS underwriting and distribution to its existing issuer clients and investor base. This additional capability has been added in response to growing demand from issuers and investors for ABS transactions. The ABS offering will align with key specialty sectors where ING already has deep industry expertise, such as TMT digital infrastructure, transportation and logistics, PACE, and diversified power/consumer finance. In addition, ING will also expand its coverage to leverage its global relationships with the auto sector and add auto ABS. Finally, ING will continue its strategic focus on being a lead green structurer in the ABS space. This latest announcement follows Michael Kendrot's recent appointment as head of Global Capital Markets (GCM). Kendrot is an experienced capital markets specialist with nearly 30 years of experience, which includes extensive ABS experience. Keith brings almost 20 years of experience in capital markets, with nearly 10 years spent at Lloyds Banking Group, most recently as Managing Director, Head of US Credit Sales/Deputy head of US Financial Markets. These latest hires will support ING's expanded securitization product offering in the US led by Thomas Ryan, Regional Head, Global Balance Sheet Distribution, Americas. This includes on balance sheet and conduit (through the long-standing ING-sponsored ABCP Conduit Mont Blanc Capital Corp) warehouse and term financing, combined with green ABS structuring. Declared Dividend • Feb 04
Dividend of €0.76 announced Shareholders will receive a dividend of €0.76. Ex-date: 24th April 2024 Payment date: 3rd May 2024 Dividend yield will be 8.9%, which is higher than the industry average of 4.6%. Sustainability & Growth Dividend is covered by earnings (51% payout ratio) and is expected to be covered in 3 years' time (50% forecast payout ratio). The dividend has increased by an average of 28% per year over the past 9 years. However, payments have been volatile during that time. EPS is expected to grow by 2.6% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Duyuru • Feb 02
ING Groep N.V. Proposes to Pay Final Dividend for the Year Ended December 31, 2023, Euronext Amsterdam Payable on 3 May 2024 and Nyse Payable on 10 May 2024 In line with its dividend policy, the board of ING Groep N.V. proposed to pay a final dividend over 2023 of €2.5 billion, subject to the approval by the annual general meeting to be held on 22 April 2024. The proposed final dividend over 2023 amounts to €0.756 per ordinary share and will be paid in cash shortly after approval by the annual general meeting. This will bring the total cash dividend over 2023 to €3.8 billion. The record date for final dividend 2023 entitlement (Euronext Amsterdam) is 25 April 2024, and record date for final dividend 2023 entitlement (NYSE) is 25 April 2024. The ex-date for final dividend 2023 (Euronext Amsterdam) is 24 April 2024. The payment date for final dividend 2023 (Euronext Amsterdam) is 3 May 2024, and payment date for final dividend 2023 (NYSE) is 10 May 2024. Reported Earnings • Feb 01
Full year 2023 earnings released: EPS: €2.08 (vs €3.35 in FY 2022) Full year 2023 results: EPS: €2.08 (down from €3.35 in FY 2022). Revenue: €22.1b (down 25% from FY 2022). Net income: €7.29b (down 40% from FY 2022). Profit margin: 33% (down from 41% in FY 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to stay flat during the next 3 years compared to a 1.8% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 17% per year, which means it is significantly lagging earnings growth. Duyuru • Nov 03
ING Groep N.V. to Report Q1, 2024 Results on May 02, 2024 ING Groep N.V. announced that they will report Q1, 2024 results on May 02, 2024 Reported Earnings • Nov 02
Third quarter 2023 earnings released Third quarter 2023 results: Revenue: €5.66b (up 40% from 3Q 2022). Net income: €1.98b (up 102% from 3Q 2022). Profit margin: 35% (up from 24% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is expected to decline by 2.5% p.a. on average during the next 3 years, while revenues in the Banks industry in Europe are expected to grow by 3.0%. Duyuru • Nov 01
Ing Groep N.V. Announces Management Changes ING Groep N.V. announced that Görkem Köseo lu will step down from his position as chief technology officer and member of the Management Board Banking, effective 1 November 2023. His departure follows mutual discussions on different views regarding the expectations about his leadership role within ING. Görkem was appointed as member of the Management Board Banking effective 1 September 2023. He has been working for ING for almost 12 years. Görkem joined ING in 2012 as chief operations officer and chief information officer at ING in Türkiye. In later capacities, he set up ING'sGlobal Analytics unit and was chief operations officer of ING Netherlands between September 2020 and September 2023. Marnix van Stiphout will take over the additional responsibilities as chief technology officer on an ad interim basis. Marnix has been chief operations officer and chief transformation officer (COO/CTO) and member of the Management Board Banking since 1 September 2021. He also acted as interim chief technology officer from May to August of 2023. Duyuru • Oct 13
ING Groep N.V. Announces Executive Changes ING Groep N.V. announced the appointment of Sjoerd Miltenburg (40) as its new Head of Investor Relations. He succeeds Mark Milders, who was made responsible for ING’s Wholesale Banking activities in the Netherlands on 1 October. Sjoerd Miltenburg is currently the global Head of Compliance People and Functional Processes, part of ING’s risk department. He is a seasoned banker who began his career as an ING trainee in Wholesale Banking in 2007. He went on to hold a number of senior management roles within Wholesale Banking, including Head of Capital Structuring & Advisory for Asia Pacific in Singapore. Since 2019, he’s been responsible for managing organizational development of ING’s global Compliance function. New Risk • Sep 27
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 5.2% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 5.2% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Duyuru • Sep 26
ING Americas Announces Executive Appointments ING Americas announced key leadership appointments within its Sectors and CMA organizations, positioning the company for future growth: Matt Rosetti has been appointed Head of Sectors, Americas where he leads ING's client organization in the region. The Sectors team in the Americas is comprised of industry experts and corporate coverage finance providers serving clients across a broad range of industries including Energy, Commodity Finance, Metals & Mining, Food & Agriculture, Financial Institutions, Technology, Media & Telecom, Healthcare, Real Estate, Transport & Logistics and strong Infrastructure capabilities across an array of verticals. ING's Sectors organization provides local and global financing solutions and product capabilities with unique, specialized sector expertise. Rosetti will report regionally to Andy Schaeffer and globally to Mark Pieter de Boer, head of Sector Coverage and ING's chief commercial officer. He joined ING in 2015 and soon took over as regional head of Trade and Commodity Finance. During this time, Rosetti assembled a talented and diverse team that has helped ING rapidly grow to become a top three commodities finance franchise in the U.S. Rosetti is succeeding Mark Appleman, who has taken on a new role as head of Corporate Sector Coverage Germany. Cefas van den Tol has been named to a new role as Head of CMA Americas. CMA was established earlier this year as the single centre of excellence for advisory business and related financing globally across ING, incorporating Corporate Finance, Acquisition Finance, Global Capital Markets (incl. Asset Securitisation and Ratings Advisory), Corporate Investments and Loan Distribution Group. Cefas will report regionally to Andy Schaeffer and globally to Horacio Martinez, global head of CMA. Cefas has served as the company's head of Strategic Products in the Americas since 2020. Prior to that he was head of Global Capital Markets in the Americas and Global Head of Corporate Bond origination delivering tailored advice and product execution for Sector clients with a focus on local expertise and ESG structuring leadership. Both Rosetti and van den Tol sit on the Americas Management team. In addition, the CMA Americas team is welcoming Michael Kendrot as head of Global Capital Markets (GCM) reporting into van den Tol effective September 25, 2023. Kendrot is an experienced capital markets specialist bringing nearly 30 years of experience in the financial services industry to this role, where he will advise financial institutions and corporations on their debt and capital raising activities. Kendrot joins from Percent Technologies where he was Managing Director, Head of Capital Markets leading the creation and structuring of innovative credit products for its institutional platform. He has held senior roles at several European banks in the U.S. including Credit Agricole Securities and ABN AMRO. Reported Earnings • Aug 03
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: €4.82b (up 2.9% from 2Q 2022). Net income: €1.62b (up 37% from 2Q 2022). Profit margin: 34% (up from 25% in 2Q 2022). The increase in margin was primarily driven by lower expenses. Revenue is expected to decline by 9.5% p.a. on average during the next 3 years, while revenues in the Banks industry in Europe are expected to grow by 3.8%. Duyuru • Jul 29
ING Announces Executive Changes ING announced the appointment of Görkem Köseo lu as chief technology officer and member of the Management Board Banking. Görkem will take up his position on 1 September, succeeding Ron van Kemenade, who stepped down effective 30 April 2023. Görkem is currently the chief operations officer of ING Netherlands, where he leads all the client services activities, the global transformation office, delivery tribes including data management, KYC services, collections, and fraud management. Görkem joined ING in 2012 as chief operations officer and chief information officer of ING Turkey where he led the transformation agenda, optimizing customer journeys, processes and legacy platforms. In 2018, Görkem became ING Group's chief analytics officer, setting up the Global Analytics unit, defining the strategies for change and analytics platforms and building a global analytics community. Prior to ING, Görkem spent over 10 years in the financial institutions practice and business technology practice at global consultancy firm McKinsey & Company. He started his career at Lucent Technologies-Bell Labs. Görkem has a B.Sc in Computer Engineering from Bo aziçi University in Turkey and an MBA from TSM Business School, University of Twente, the Netherlands. The appointment of Görkem Köseo lu as chief technology officer has been approved by the European Central Bank.Danny Nijhuis, currently COO Wholesale Banking, will succeed Görkem in his current role as COO Netherlands. Duyuru • Jun 28
Chow Tai Fook Enterprises Limited made an offer to acquire additional 96.955655% stake in NWS Holdings Limited (SEHK:659) from New World Development Company Limited (SEHK:17) and others for HKD 34.6 billion. Chow Tai Fook Enterprises Limited made an offer to acquire additional 96.955655% stake in NWS Holdings Limited (SEHK:659) from New World Development Company Limited (SEHK:17) and others for HKD 34.6 billion on June 27, 2023. The offer price per share is HKD 9.15 for 3,791,380,925 shares and 84,638,650 options having exercisable price of HKD 7.83. NWS board has established a special committee comprising To Hin Tsun, Gerald, Dominic Lai, Shek Lai Him, Abraham, Lee Yiu Kwong, Alan, Oei Wai Chi Grace Fung, Wong Kwai Huen, Albert, Professor Chan Ka Keung, Ceajer and Ng Yuen Ting, Yolanda, to make a recommendation to the Disinterested NWS Shareholders and the Disinterested NWS Option holders as to whether the NWS Offers are, or are not, fair and reasonable and as to acceptance. Transaction is conditional upon acceptance of all 60.87559% stake owned by New Development Company, Shareholders approval of New Development Company for the disposal, and other conditions. If a threshold of 90% will be achieved, the offeror will go for compulsory acquisition. The Hongkong and Shanghai Banking Corporation Limited, BOCI Asia Limited, and ING Bank N.V., Hong Kong Branch acted as financial advisors to Chow Tai Fook Enterprises Limited. Duyuru • Jun 24
ING Groep N.V. Appoints Bahadir Yilmaz as Chief Analytics Officer, Effective 1 July 2023 ING Groep N.V. has a new chief analytics officer with Bahadir Yilmaz taking up the new role on 1 July 2023. Bahadir, who joined ING in Turkey in 2012 and moved to ING's Analytics unit in Amsterdam in 2018, takes over the role from Gorkem Koseoglu who has held the role ad interim since January. Speaking at the announcement of his appointment, Bahadir said artificial intelligence (AI) is revolutionary for all businesses, including the financial services. The developments in the last six months have demonstrated the transformative power of analytics and AI. As chief analytics officer, Bahadir will oversee and develop ING's analytics and business intelligence activities. Recent Insider Transactions • May 15
Key Executive recently bought €80k worth of stock On the 11th of May, Steven J. van Rijswijk bought around 7k shares on-market at roughly €11.44 per share. This transaction amounted to 8.2% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Steven J.'s only on-market trade for the last 12 months. Reported Earnings • May 12
First quarter 2023 earnings released: EPS: €0.44 (vs €0.11 in 1Q 2022) First quarter 2023 results: EPS: €0.44 (up from €0.11 in 1Q 2022). Revenue: €5.42b (up 50% from 1Q 2022). Net income: €1.59b (up 271% from 1Q 2022). Profit margin: 29% (up from 12% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 3.0% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth. Duyuru • May 12
ING Groep N.V. Provides Earnings Guidance for the Years 2023 ING Groep N.V. provided earnings guidance for the years 2023, 2024 and 2025. For the year 2023, The company expects total income growth of more than 10% for 2023. The company expects revenue growth of over 10%. Upcoming Dividend • Apr 19
Upcoming dividend of €0.39 per share at 4.6% yield Eligible shareholders must have bought the stock before 26 April 2023. Payment date: 05 May 2023. Payout ratio is a comfortable 17% but the company is not cash flow positive. Trailing yield: 4.6%. Lower than top quartile of Austrian dividend payers (5.5%). Lower than average of industry peers (5.2%). Duyuru • Jan 19
ING Reportedly Weighs Buying IDBI Bank for India Return ING Groep N.V. (ENXTAM:INGA) is evaluating a comeback in India by buying a controlling stake in IDBI Bank Limited (NSEI:IDBI), two people aware of the development told ET. ING has been examining the books of the state-owned lender in recent weeks and some members of its top brass were in New Delhi recently to discuss the matter with senior officials, they said. One of the officials mentioned above said ING has submitted an expression of interest (EoI) for IDBI Bank, while the other said they will do so at a later stage. The government and Life Insurance Corporation of India (LIC) together are looking to sell 60.72% of IDBI Bank. Five to seven prospective candidates are believed to have submitted EoIs ahead of the January 7, 2023 deadline. 
