What factors drove the changes in ING Groep's revenue and profit?

What is ING Groep's latest dividend and current dividend yield?

What guidance did ING Groep's management provide for the next earnings period?

What is the revenue and EPS growth rate for ING Groep year over year?

Did ING Groep beat or miss consensus estimates last quarter?

What does ING Groep do and what are its main business segments?

What were the key takeaways from ING Groep's earnings call?

What were the key takeaways from ING Groep’s earnings call?

- **Customer Growth**: Added 200,000 new mobile primary customers, exceeding 1 million annual target.
- **Fee Surge**: Wholesale banking fees hit €383 million, driving 15% YoY fee growth.
- **Capital Action**: €1.6 billion distribution to align CET1 at 13%, with 180 bps regulatory buffer.
- **AI Transformation**: Gen AI chatbots in six markets; 950 job reductions in Netherlands via automation.
- **Risk Management**: Stable risk costs at 19 bps, below cycle average.
- **ROE Upgrade**: 2025 ROE outlook raised to over 12.5%, with 2027 target of 14% unchanged.

**【CEO Summary Section】**
- Delivered strong commercial momentum with 200,000 new mobile primary customers, bringing 12-month growth to 1.1 million.
- Loan book expanded by €14.2 billion, driven by residential mortgages in Germany, Poland, and the Netherlands, and wholesale banking lending.
- Fee income grew 15% YoY, with record wholesale banking fees of €383 million.
- Announced €1.6 billion capital distribution, including €1.1 billion share buyback, to align CET1 capital ratio with updated 13% target.
- Raised 2025 ROE outlook to over 12.5% and fee growth target to over 10%.

**【CFO Financial Commentary】**
- Total income reached €22.8 billion, with commercial NII at record levels due to wholesale banking growth and promotional campaign closure.
- Fee income growth of 15% YoY, driven by mobile customer expansion and investment products.
- Core deposits declined €200 million due to seasonal spending and promotional campaign outflows, but wholesale deposits grew strongly.
- Expenses rose 3% YoY, with cost management supporting ROE improvement.
- Risk costs remained stable at 19 bps of average lending, below through-the-cycle average.
- CET1 capital ratio increased to 12.9%, pro forma for distributions, with 180 bps buffer above MDA threshold.

**【Q&A Highlights】**
- **Capital Allocation**: CET1 target of 13% reflects regulatory buffers; excess capital will be returned to shareholders. Q4 NII guidance of €15.2-15.3 billion includes one-off wholesale banking gains.
- **Deposit Trends**: Retail outflows (€7 billion) offset by wholesale inflows (€7 billion); seasonal trends expected to normalize in Q4.
- **Lending Margins**: Wholesale banking growth supports 125-130 bps margin target; mortgage mix impacts near-term margins.
- **AI Impact**: Gen AI chatbots rolled out in six markets; 950 job reductions in Netherlands due to automation, with similar initiatives globally.
- **Sustainability**: Sustainable finance volumes up 29% YoY, aligning with ESG goals.
- **M&A Strategy**: Focus on in-market growth and accretive acquisitions, with 2027 ROE target of 14% unchanged.

ING Groep N.V. (ING) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

ING

ING fundamentals

You can ask Aime