Czech Republic

Czech Republic

ING Wholesale Banking

ING posts 2Q17 net result of EUR 1,371 million

ING records continued commercial growth and further progress on accelerating Think Forward strategic priorities

  • ING grew retail customer base in 1H17 by 700,000 to 36.5 million, and primary relationships increased by 400,000 to 10.1 million
  • Net core lending in 2Q17 increased by EUR 6.4 billion; net customer deposit inflow amounted to EUR 5.3 billion


ING 2Q17 underlying pre-tax result of EUR 1,992 million; ING declares interim cash dividend of EUR 0.24 per ordinary share

  • Strong result reflects volume growth at resilient margins, higher commission income and a gain on the sale of an equity stake
  • ING Group 2Q17 four-quarter rolling ROE was 10.8%; ING Group fully loaded common equity Tier 1 (CET1) ratio stable at 14.5%


CEO statement

“At ING, we are passionate about providing a differentiating experience to our customers, who are at the heart of everything we do,” said Ralph Hamers, CEO of ING Group. “Banking and technology keep changing faster and faster. We keep pace by continuously adapting and improving to meet customers’ needs, and we aim to exceed their expectations. Our strategy drives our consistent and sustainable growth, as evidenced by the strong increase in our worldwide customer base in the first six months of the year to 36.5 million, of which 10.1 million are considered primary customers.”

“Innovation is in our DNA and our diverse capabilities in this area constantly enhance the customer experience. During the second quarter of 2017, we introduced the ‘Banking to go’ app in Germany which includes new technologies that make banking easier and more personal. ‘Banking to go’ was co-created by a team from Germany and the Netherlands, using customer feedback. The app demonstrates how countries and teams are uniting across ING to meet our ambition to provide a uniform customer experience in all of our markets, anywhere and anytime. This goal of uniting services is also reflected in our vision of ING for the future: offering a single, borderless digital platform with a clear and easy experience wherever you are in the world. A platform where ING products and services are supplemented by third-party offerings, and where all of our customers’ financial needs can be satisfied.”

“During the second quarter, we made important strides in establishing the internal operational framework for our digital transformation. We also realised further progress on our commercial ambitions, with EUR 6.4 billion of net core lending growth at stable margins, despite aggressive competition in some of our markets, and a EUR 5.3 billion increase in net customer deposits. In the second quarter of 2017, ING Group’s underlying pre-tax result was EUR 1,992 million, driven by the continued volume growth at resilient interest margins, higher commission income and a one-time gain on the sale of an equity stake in the real estate run-off portfolio. Operating expenses remained under control, supported by the benefits from ongoing cost-saving initiatives, but they edged up higher due to a one-off legal provision related to a business that was discontinued in Luxembourg around the year 2000. On a four-quarter rolling basis, ING Group’s underlying return on equity improved to 10.8% from 8.8% a year ago.”

“ING Group’s fully loaded CET1 ratio remained strong at 14.5% at the end of June 2017. We are committed to maintaining a capital position in excess of prevailing fully loaded requirements and to providing an attractive return to shareholders. In the second quarter, we reserved EUR 0.9 billion of the quarterly net profit for future dividend payments, as we did with the first-quarter net profit. Today, we declare an interim cash dividend of EUR 0.24 per ordinary share over the first half of 2017, which is equal to the amount paid over the first half of 2016.”

“Our second-quarter performance confirms that the core elements of our strategy are as relevant as ever in the fast-changing worlds of banking and technology, and that we are able to execute steadily on our priorities. We’re on the right track to achieve our strategic milestones while continuing to support our growing customer base as we build the bank of the future.”