Company Overview

ING Groep N.V. is a leading global financial institution with a strong European foundation, primarily operating through its banking arm, ING Bank. The bank's core purpose is: "empowering people to stay a step ahead in life and in business." With over 60,000 employees, ING Bank offers a comprehensive range of retail and wholesale banking services to customers across more than 100 countries.

ING Groep N.V. stands as the leading financial services group in the Benelux region. Income is broken down by activity:

- Retail banking: 67.4%

- Corporate banking: 30.9%

- Other: 1.7%

Revenues are generated across various geographies:

- The Netherlands: 32.2%

- Germany: 19.1%

- Belgium: 18%

- Other regions: 30.7%

ING Groep N.V. provides a wide array of banking products and services throughout the Netherlands, Belgium, Germany, the rest of Europe, and internationally. The company's operations are structured into five key segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking.

Key Business Segments

- Retail Banking Services:

- Accepts current and savings accounts, as well as time deposits.

- Offers business lending products, SME loans, and consumer lending products, including residential mortgage loans and other consumer lending.

- Wholesale Banking:

- Provides working capital solutions, debt and equity market solutions, various loans, payments, and cash management services.

- Offers trade and corporate finance, treasury services, savings, investment, insurance, and digital banking services.

- Serves individual customers, corporate clients, and financial institutions.

Market Position and Valuation

As of September 2025, ING had a market capitalization of $74.40 Billion USD, positioning it as the 296th most valuable company globally according to available data. Market capitalization figures vary across sources, ranging from €58.28 billion (as of August 11, 2025) to $80.04 billion (as of September 17, 2025), underscoring the company's substantial market presence.

ING Group shares are listed on major exchanges:

- Euronext Amsterdam: (INGA NA, INGA.AS)

- Brussels Stock Exchange

- New York Stock Exchange: (ADRs: ING US, ING.N)

Strong Financial Performance FY2024

ING reported strong operational performance throughout 2024, with a full-year net profit of €6,392 million.

Key Financial Highlights (FY2024)

- Revenue and Earnings:

- Total revenue for 2024 was €20.05 billion, a 13.77% increase from the previous year's €17.63 billion.

- Earnings increased by 28.84% to €5.33 billion.

- Total income reached a record €22.6 billion, with a net result of €6.4 billion, maintaining a high level after a strong 2023.

- Fee income rose by 11% year-on-year, driven by increased assets under management and customer trading activity in Retail, and higher capital markets issuance deals for clients in Wholesale Banking.

- Balance Sheet Strength (End of 2024):

- Managed current deposits: EUR 691.7 billion

- Managed current credits: EUR 680.2 billion

Commercial Growth and Customer Base

Customer Expansion

ING significantly increased its mobile primary customer base by 1.1 million, reaching a total of 14.4 million mobile primary customers. Growth was particularly strong in Germany, the Netherlands, Spain, and Poland.

Lending and Deposits Growth

- Core Lending: Grew by €28 billion across all markets, with a notable €19 billion increase in the mortgage portfolio, especially in Germany.

- Deposit Base: Rose by €47 billion, with contributions from all Retail countries and the Wholesale business.

Q3 2024 Performance

ING Groep N.V. reported a net result of €1,880 million for the third quarter of 2024, supported by robust commercial growth and strong fee income. The company achieved a profit before tax of €2,668 million, with a solid return on equity of 13.8% on a four-quarter rolling average.

Q3 2024 Key Metrics:

- Resilient net interest income, bolstered by volume growth in lending and deposits.

- Fee income increased by 11% year-on-year, surpassing €1 billion.

- An increase of 189,000 mobile primary customers.

- Significant growth in the mortgage segment.

Sustainability Leadership

Sustainability is a key priority for ING and its clients. The company increased its sustainable volume mobilized to €130 billion (up from €115 billion in 2023), progressing well towards its 2027 target of €150 billion per annum.

ESG Recognition

- ING's ESG rating by MSCI was reconfirmed as 'AA' in August 2024 for the fifth consecutive year.

- As of December 2023, Sustainalytics assessed ING's management of ESG material risk as 'Strong', with a current ESG Risk Rating of 17.2 (Low Risk).

Strategic Outlook

ING CEO Steven van Rijswijk noted significant progress in strategy implementation during 2024, emphasizing accelerated growth, diversified income, superior customer value, and a leading role in supporting clients' sustainable transition. The bank is on track to meet targets communicated at its Capital Markets Day in June, having invested in business growth to expand its customer base and revenues, while continuously driving operational efficiencies.

The bank's diversified revenue streams across retail and wholesale banking, combined with its strong presence in key European markets and commitment to sustainability, position ING Groep as a leading player in the European financial services sector.