ING posts 3Q2025 net result of EUR1,787 million, with strong growth in fee income and customer lending

 
 
Profit before tax increases quarter-on-quarter to EUR2,560 million; 
 CET1 ratio rises to 13.4% 
--   Continued growth in Retail Banking with increases in mobile primary 
      customer base, lending portfolio and fee income; 
      resilient commercial net interest income 
--   Strong performance of Wholesale Banking, with increased loan underwriting 
      activity and higher lending volumes driving 
      robust fee income, complemented by continued disciplined capital 
      management 
--   Operating expenses remain under control; risk costs remain below 
      our through-the-cycle average, reflecting the high quality of our 
      assets 
--   We announce a EUR1.6 billion distribution 
 CEO statement "ING has had a strong third quarter of 2025 as we continued to 
 execute our strategy to accelerate growth, increase our impact and deliver 
 customer value, and we are on track to reach our financial targets for 2027," 
 said Steven van Rijswijk, CEO of ING. "While macroeconomic and geopolitical 
 uncertainty remains prevalent, a growing number of customers continue to 
 place their trust in us. Customer lending has increased and fee income has 
 grown at a strong pace. Commercial net interest income has increased 
 quarter-on-quarter, supported by higher business volume. "In Retail Banking, 
 we have gained almost 200,000 mobile primary customers during a seasonally 
 slower quarter, and 1.1 million, or 8%, year-on-year, which is in line with 
 our growth target of 1 million mobile primary customers per year. Growth has 
 been particularly strong in Germany, Spain, Italy and Romania. Retail lending 
 has grown by EUR8.6 billion, mainly in mortgages. In Business Banking, 
 lending volumes were stable, with increases in the Netherlands and Poland 
 offset by a decline in Belgium. Retail fee income has risen 14% year-on-year, 
 mainly from investment products as more customers started investing with us. 
 Following significant inflows in previous quarters, deposits have decreased, 
 reflecting seasonal impacts and the conclusion of successful campaigns in 
 Germany and Belgium, with part of these funds moving into investment 
 products. "In Wholesale Banking, corporate loan demand has picked up, driving 
 lending growth to EUR5.7 billion and a 19% growth in fee income year-on-year. 
 Financial Markets income has also improved, and Trade Finance Services and 
 Working Capital Solutions continued to perform well too. Deposits have grown 
 strongly by EUR7 billion, reflecting growth in volumes in Payments & Cash 
 Management, Financial Markets and in our cash pooling business. "During the 
 quarter we published our Climate Update, which details our ongoing efforts to 
 help accelerate the transition to a low-carbon economy. In the first nine 
 months of 2025, amid more volatile market circumstances, we increased our 
 sustainable volume mobilised by 29% year-on-year to EUR110 billion, as we 
 continued to support our clients in their sustainable transitions. "Expenses 
 have increased year-on-year, mainly attributable to wage inflation and 
 investments in business growth, as well as to initiatives to further enhance 
 the digital customer experience and the scalability of our systems. Compared 
 with the second quarter, expenses decreased, partly attributable to lower 
 restructuring costs in Wholesale Banking. Risk costs remained below our 
 through-the-cycle average. The four-quarter rolling average return on equity 
 was 12.6%. "We have adjusted our CET1 capital ratio target to 13% to cater 
 for higher (expected) capital requirements. Operating at the right level of 
 capital is in the best interest of all our stakeholders, including our 
 customers and the economies where we do business. After completing the share 
 buyback programme announced in May 2025, we today announce a distribution of 
 EUR1.6 billion. "We are pleased with another set of strong results that show 
 continued growth in our business. We appreciate the ongoing trust our 
 customers and clients place in us, as well as the continued commitment 
 demonstrated by our employees." 
 
Further information 
 All publications related to ING's 3Q 2025 results can be found at 
 the quarterly results page on ING.com. For more on investor information, 
 go to www.ing.com/investors. 
 A short ING ON AIR video with CEO Steven van Rijswijk discussing 
 our 3Q 2025 results is available on Youtube. 
 For further information on ING, please visit www.ing.com. Frequent 
 news updates can be found in the Newsroom or via the @ING_news feed 
 on X. Photos of ING operations, buildings and our executives are 
 available for download at Flickr. 
 
Investor conference call and webcast 
 Steven van Rijswijk, Tanate Phutrakul and Ljiljana Čortan will 
 discuss the results in an Investor conference call on 30 October 
 2025 at 9:00 a.m. CET. Members of the investment community can join 
 the conference call at +31 20 708 5074 $(NL)$, or +44 330 551 0202 
 (UK) (registration required via invitation) and via live audio webcast 
 at www.ing.com. 
 
Investor enquiries 
 E: investor.relations@ing.com 
 Press enquiries 
 T: +31 20 576 5000 
 E: media.relations@ing.com 
 
ING PROFILE 
 ING is a global financial institution with a strong European base, 
 offering banking services through its operating company ING Bank. 
 The purpose of ING Bank is: empowering people to stay a step ahead 
 in life and in business. ING Bank's more than 60,000 employees offer 
 retail and wholesale banking services to customers in over 100 countries. 
 ING Group shares are listed on the exchanges of Amsterdam (INGA NA, 
 INGA.AS), Brussels and on the New York Stock Exchange (ADRs: ING 
 US, ING.N). 
 ING aims to put sustainability at the heart of what we do. Our policies 
 and actions are assessed by independent research and ratings providers, 
 which give updates on them annually. ING's ESG rating by MSCI has 
 been upgraded from 'AA' to 'AAA' in October 2025. As of June 2025, 
 in Sustainalytics' view, ING's management of ESG material risk is 
 'Strong' with an ESG risk rating of 18.0 (low risk). ING Group shares 
 are also included in major sustainability and ESG index products 
 of leading providers. Here are some examples: Euronext, STOXX, Morningstar 
 and FTSE Russell. Society is transitioning to a low-carbon economy. 
 So are our clients, and so is ING. We finance a lot of sustainable 
 activities, but we still finance more that's not. Follow our progress 
 on ing.com/climate. 
 IMPORTANT LEGAL INFORMATION 
 Elements of this press release contain or may contain information 
 about ING Groep N.V. and/ or ING Bank N.V. within the meaning of 
 Article 7(1) to (4) of EU Regulation No 596/2014 ('Market Abuse Regulation'). 
 ING Group's annual accounts are prepared in accordance with International 
 Financial Reporting Standards as adopted by the European Union ('IFRS- 
 EU'). In preparing the financial information in this document, except 
 as described otherwise, the same accounting principles are applied 
 as in the 2024 ING Group consolidated annual accounts. All figures 
 in this document are unaudited. Small differences are possible in 
 the tables due to rounding. 
 Certain of the statements contained herein are not historical facts, 
 including, without limitation, certain statements made of future 
 expectations and other forward-looking statements that are based 
 on management's current views and assumptions and involve known and 
 unknown risks and uncertainties that could cause actual results, 
 performance or events to di er materially from those expressed or 
 implied in such statements. Actual results, performance or events 
 may di er materially from those in such statements due to a number 
 of factors, including, without limitation: (1) changes in general 
 economic conditions and customer behaviour, in particular economic 
 conditions in ING's core markets, including changes affecting currency 
 exchange rates and the regional and global economic impact of the 
 invasion of Russia into Ukraine and related international response 
 measures (2) changes affecting interest rate levels (3) any default 
 of a major market participant and related market disruption (4) changes 
 in performance of financial markets, including in Europe and developing 
 markets (5) fiscal uncertainty in Europe and the United States (6) 
 discontinuation of or changes in 'benchmark' indices (7) inflation 
 and deflation in our principal markets (8) changes in conditions 
 in the credit and capital markets generally, including changes in 
 borrower and counterparty creditworthiness (9) failures of banks 
 falling under the scope of state compensation schemes (10) non- compliance 
 with or changes in laws and regulations, including those concerning 
 financial services, financial economic crimes and tax laws, and the 
 interpretation and application thereof (11) geopolitical risks, political 
 instabilities and policies and actions of governmental and regulatory 
 authorities, including in connection with the invasion of Russia 
 into Ukraine and the related international response measures (12) 
 legal and regulatory risks in certain countries with less developed 
 legal and regulatory frameworks (13) prudential supervision and regulations, 
 including in relation to stress tests and regulatory restrictions 
 on dividends and distributions (also among members of the group) 
 (14) ING's ability to meet minimum capital and other prudential regulatory 
 requirements (15) changes in regulation of US commodities and derivatives 
 businesses of ING and its customers (16) application of bank recovery 
 and resolution regimes, including write down and conversion powers 
 in relation to our securities (17) outcome of current and future 
 litigation, enforcement proceedings, investigations or other regulatory 
 actions, including claims by customers or stakeholders who feel misled 
 or treated unfairly, and other conduct issues (18) changes in tax 

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