Latest news with #StevenvanRijswijk
Yahoo
31-07-2025
- Business
- Yahoo
ING posts 2Q2025 net result of €1,675 million, with strong growth in lending volumes and fee income
ING posts 2Q2025 net result of €1,675 million, with strong growth in lending volumes and fee income 2Q2025 profit before tax of €2,369 million with a CET1 ratio of 13.3% • Well on track to reach our targets, one year into our 'Growing the difference' strategy • Continued strong increase in mobile primary customers of over 300,000 to 14.9 million • Resilient total income, supported by higher customer balances, with particularly strong growth of our mortgage portfolio • Further growth in fee income in both Retail and Wholesale Banking, up 12% year-on-year • ING will pay an interim cash dividend of €0.35 per ordinary share CEO statement'During the second quarter of 2025, we have continued to successfully execute our strategy, which we set out one year ago, by accelerating growth, increasing impact and delivering value,' said Steven van Rijswijk, CEO of ING. 'The quarter started with heightened market volatility, as well as macroeconomic and geopolitical uncertainty, which still continue to this day. In that context, we are pleased that our customer base has shown significant growth and that our volumes have increased as we further diversified our income streams, with fees now making up almost 20% of our total income. We are well on track to reach our financial targets for 2027. 'We have seen continued commercial momentum, with significant core lending growth, continued strong deposit gathering and a double-digit increase in fee income. Commercial NII declined year-on-year due to margin pressure and currency fluctuations, leaving total income stable. 'In Retail Banking, we have gained over 300,000 mobile primary customers during the quarter, and 1.1 million, or 8% growth, year-on-year, with Germany, Spain, Italy, and Romania leading this growth. Net core lending growth has reached a quarterly record of €11.3 billion, including €7.2 billion in mortgages, mainly in the Netherlands, Australia and Germany, and €3.2 billion in Business Banking, driven by higher loan demand from our SME clients. We have attracted €8.9 billion in net customer deposits, partly from seasonal holiday allowances, and achieved a 12% increase year-on-year in retail fee income, primarily from higher investment activity. 'In Wholesale Banking, net core lending growth was €4.1 billion, driven by strong momentum in Working Capital Solutions and in short-term trade-related financing. Demand for long-term corporate loans has remained subdued due to economic uncertainty, which impacted total income. Fee income has risen 12% year-on-year, driven by Lending, Global Capital Markets and Payments & Cash Management. 'Costs have developed as expected, increasing moderately year-on-year. Prudent expense management remains a priority and the impact of inflation and investments was partly offset by efficiency measures. As part of this, we are making ongoing improvements to our KYC processes and we have announced the restructuring of our Wholesale Banking workforce, while continuing to invest in our commercial and product capabilities in both Retail and Wholesale Banking. 'Risk costs were below our through-the-cycle average, reflecting the quality of our loan portfolio. Our CET1 ratio was 13.3%, including the impact of the share buyback programme, which was announced in May 2025 and is well underway. Our 4-quarter rolling average return on equity came out at 12.7%. 'We continue to find ways to support our customers on their journeys to net zero. We have increased our sustainable volume mobilised to €67.8 billion for the first half of 2025, a 19% increase compared to the first half of 2024. In the Netherlands, we have introduced a new mortgage pricing model tied to energy labels that offers lower interest rates when eligible customers improve the energy label for their homes. 'We are pleased with our results during a volatile first half of 2025. Although macroeconomic conditions remain challenging we are confident that our strategy sets us on course to become the best European bank and deliver on our targets. I want to thank our customers and clients for their continued trust in us and our employees for their continued dedication.' Further informationAll publications related to ING's 2Q 2025 results can be found at the quarterly results page on more on investor information, go to A short ING ON AIR video with CEO Steven van Rijswijk discussing our 2Q 2025 results is available on Youtube. For further information on ING, please visit 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 webcastSteven van Rijswijk, Tanate Phutrakul and Ljiljana Čortan will discuss the results in an Investor conference call on 31 July 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 Investor enquiriesE: Press enquiriesT: +31 20 576 5000E: 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, 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 was reconfirmed by MSCI as 'AA' in August 2024 for the fifth year. 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 IMPORTANT LEGAL INFORMATIONElements 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 differ materially from those expressed or implied in such statements. Actual results, performance or events may differ 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 laws and regulations and risks of non-compliance or investigation in connection with tax laws, including FATCA (19) operational and IT risks, such as system disruptions or failures, breaches of security, cyber-attacks, human error, changes in operational practices or inadequate controls including in respect of third parties with which we do business and including any risks as a result of incomplete, inaccurate, or otherwise flawed outputs from the algorithms and data sets utilized in artificial intelligence (20) risks and challenges related to cybercrime including the effects of cyberattacks and changes in legislation and regulation related to cybersecurity and data privacy, including such risks and challenges as a consequence of the use of emerging technologies, such as advanced forms of artificial intelligence and quantum computing (21) changes in general competitive factors, including ability to increase or maintain market share (22) inability to protect our intellectual property and infringement claims by third parties (23) inability of counterparties to meet financial obligations or ability to enforce rights against such counterparties (24) changes in credit ratings (25) business, operational, regulatory, reputation, transition and other risks and challenges in connection with climate change, diversity, equity and inclusion and other ESG-related matters, including data gathering and reporting and also including managing the conflicting laws and requirements of governments, regulators and authorities with respect to these topics (26) inability to attract and retain key personnel (27) future liabilities under defined benefit retirement plans (28) failure to manage business risks, including in connection with use of models, use of derivatives, or maintaining appropriate policies and guidelines (29) changes in capital and credit markets, including interbank funding, as well as customer deposits, which provide the liquidity and capital required to fund our operations, and (30) the other risks and uncertainties detailed in the most recent annual report of ING Groep N.V. (including the Risk Factors contained therein) and ING's more recent disclosures, including press releases, which are available on This document may contain ESG-related material that has been prepared by ING on the basis of publicly available information, internally developed data and other third-party sources believed to be reliable. ING has not sought to independently verify information obtained from public and third-party sources and makes no representations or warranties as to accuracy, completeness, reasonableness or reliability of such information. Materiality, as used in the context of ESG, is distinct from, and should not be confused with, such term as defined in the Market Abuse Regulation or as defined for Securities and Exchange Commission ('SEC') reporting purposes. Any issues identified as material for purposes of ESG in this document are therefore not necessarily material as defined in the Market Abuse Regulation or for SEC reporting purposes. In addition, there is currently no single, globally recognized set of accepted definitions in assessing whether activities are 'green' or 'sustainable.' Without limiting any of the statements contained herein, we make no representation or warranty as to whether any of our securities constitutes a green or sustainable security or conforms to present or future investor expectations or objectives for green or sustainable investing. For information on characteristics of a security, use of proceeds, a description of applicable project(s) and/or any other relevant information, please reference the offering documents for such security. This document may contain inactive textual addresses to internet websites operated by us and third parties. Reference to such websites is made for information purposes only, and information found at such websites is not incorporated by reference into this document. ING does not make any representation or warranty with respect to the accuracy or completeness of, or take any responsibility for, any information found at any websites operated by third parties. ING specifically disclaims any liability with respect to any information found at websites operated by third parties. ING cannot guarantee that websites operated by third parties remain available following the publication of this document, or that any information found at such websites will not change following the filing of this document. Many of those factors are beyond ING's control. Any forward-looking statements made by or on behalf of ING speak only as of the date they are made, and ING assumes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or for any other reason. This document does not constitute an offer to sell, or a solicitation of an offer to purchase, any securities in the United States or any other jurisdiction. Attachment Full ING 2Q2025 Results Press Release (PDF)Sign in to access your portfolio
Malaysian Reserve
01-07-2025
- Business
- Malaysian Reserve
ING to cut 230 jobs as it has ‘too many' managing directors
ING Groep NV announced a round of cuts focused on senior staff, saying there are just too many of them. The Dutch lender plans to eliminate 230 roles across its wholesale banking division, according to a statement on Monday. The cuts 'will be focused on Directors and Managing Directors in commercial, front office roles' as the lender has 'too many senior roles,' it said. Shares in ING were 2.1% lower at 11:15 am in Amsterdam. The stock is up about 23% this year to date, compared with about 30% for the wider European banking sector. ING has guided for costs to rise to as much as €12.7 billion ($14.9 billion) this year. The metric grew by 5.5% in the first quarter on the previous year's period, with ING largely attributing the change to 'the impact of inflation on staff expenses.' European banks have cited macroeconomic uncertainty and geopolitical tensions as rising risks for their businesses as a result of the global trade war. ING on Monday said the cuts were prompted by a combination of 'market circumstances' and the goal of 're-balancing' staff. The cuts will be split proportionally across its locations, it said. The company had 17,287 employees in the wholesale banking division at the end of the first quarter. Competitor ABN Amro Bank NV earlier this year announced a hiring freeze to help meet its full-year cost guidance and a reorganization of its corporate banking unit in June. ING Chief Executive Officer Steven van Rijswijk told Bloomberg News earlier this month that he may slow the pace of share buybacks after increasing the amount of money he wants to keep in the bank as safety cushion. ING will continue to hire in areas where it needs to grow 'specialist skills,' it said in the statement. The company also wants to 'increase the size of our pool of junior talent.' The bank is also exploring the possibility of acquiring a US banking license, a move that could bolster its access to dollar liquidity in exchange for greater supervision by US regulator, Bloomberg reported in May. The bank has been bolstering the treasury department of its ING Americas division ahead of the push. –BLOOMBERG
Business Times
30-06-2025
- Business
- Business Times
ING to cut 230 jobs as it has ‘too many' managing directors
[AMSTERDAM] ING Groep announced a round of cuts focused on senior staff saying there are just too many of them. The Dutch lender plans to eliminate 230 roles across its wholesale banking division, according to a statement on Monday (Jun 30). The cuts 'will be focused on Directors and Managing Directors in commercial, front office roles' as the lender has 'too many senior roles,' it said. ING's shares were 1.2 per cent lower at 18.60 euros apiece at 10.17 am in Amsterdam. ING chief executive officer Steven van Rijswijk told Bloomberg News earlier this month that he may slow the pace of share buybacks after increasing the amount of money he wants to keep in the bank as safety cushion. European banks have cited macroeconomic uncertainty and geopolitical tensions as rising risks for their businesses as a result of the global trade war. ING on Monday explained the restructuring by a combination of 'market circumstances' and the goal of 'rebalancing' its staff for growth. The cuts would be split proportionally across its locations, it said. Competitor ABN Amro Bank earlier this year announced a hiring freeze to help meet its full-year cost guidance and a reorganisation of its corporate banking unit in June. ING will continue to hire in areas where it needs to grow 'specialist skills,' it said in the statement. The company also wants to 'increase the size of our pool of junior talent.' It is also exploring the possibility of acquiring a US banking licence, a move that could bolster its access to US dollar liquidity in exchange for greater supervision by US regulator, Bloomberg reported in May. The bank has been bolstering the treasury department of its ING Americas division ahead of the push. BLOOMBERG
Mint
30-06-2025
- Business
- Mint
ING to Cut 230 Jobs as It Has ‘Too Many' Managing Directors
(Bloomberg) -- ING Groep NV announced a round of cuts focused on senior staff saying there are just too many of them. The Dutch lender plans to eliminate 230 roles across its wholesale banking division, according to a statement on Monday. The cuts 'will be focused on Directors and Managing Directors in commercial, front office roles' as the lender has 'too many senior roles,' it said. ING's shares were 1.2% lower at €18.60 apiece at 10:17 a.m. in Amsterdam. ING Chief Executive Officer Steven van Rijswijk told Bloomberg News earlier this month that he may slow the pace of share buybacks after increasing the amount of money he wants to keep in the bank as safety cushion. European banks have cited macroeconomic uncertainty and geopolitical tensions as rising risks for their businesses as a result of the global trade war. ING on Monday explained the restructuring by a combination of 'market circumstances' and the goal of 'rebalancing' its staff for growth. The cuts would be split proportionally across its locations, it said. Competitor ABN Amro Bank NV earlier this year announced a hiring freeze to help meet its full-year cost guidance and a reorganization of its corporate banking unit in June. ING will continue to hire in areas where it needs to grow 'specialist skills,' it said in the statement. The company also wants to 'increase the size of our pool of junior talent.' It is also exploring the possibility of acquiring a US banking license, a move that could bolster its access to dollar liquidity in exchange for greater supervision by US regulator, Bloomberg reported in May. The bank has been bolstering the treasury department of its ING Americas division ahead of the push. (Updates with shares and details from third paragraph) More stories like this are available on
Cision Canada
25-06-2025
- Business
- Cision Canada
NYSE Content advisory: NYSE teams up with Money20/20 at its annual event in Europe
NEW YORK, June 25, 2025 /CNW/ -- This is where money does business. The New York Stock Exchange (NYSE) recently traveled to Amsterdam in collaboration with Money20/20 to join, keynote, interview, and announce news at Money20/20's EU show. Experience the full interactive Multichannel News Release here: The show floor, nature stage, money beach club and moneypot podcasting stage all laid the groundwork for three action-packed days of building, networking, and partnering. For the largest independent gathering of financial technology leaders, it's a natural fit that the NYSE teamed up with Money20/20 for future growth. Over the course of the event that ran from Tuesday, June 3, to Thursday, June 5, the NYSE announced a brand-new live show in collaboration with Money20/20 called "Taking Stock." The CEO of ING, the Netherlands' largest lender and a NYSE-listed bank, Steven van Rijswijk shared his outlook with Kristen Scholer on the main stage. NYSE Vice Chair Michael Harris took part in a conversation with NYSE-listed Visa and private company Zilch, both of which made news. And companies from Deutsche Bank to Mastercard to Klarna all had announcements of their own! As part of the Money Morning Show, the NYSE, in collaboration with Money20/20, Fintech TV, and Cheddar surprised attendees with a teaser video of "Taking Stock." The half-hour fast-paced show launches mid-August and will give viewers around the world news they can use from the trading floor after the closing bell. When ING's CEO joined Scholer for a 1:1 following the show announcement, he outlined the bank's growth strategy. He called for more regulation and consolidation at the same time. According to van Rijswijk, the bank is actively looking at deals to expand into local markets across Europe. Still, he believes greater regulation for European banks will make it easier to navigate. According to him, ING is at the forefront of sustainability, requiring standards from clients to keep them as customers. That was a message well delivered on the nature stage! And if that wasn't enough(!), Harris had the chance to take part in a special announcement between Visa and Zilch. In a multi-year deal, Zilch said it's partnering with Visa to accelerate growth and launch a physical card. Scholer even got the chance to see and hold the new card during her interview with Zilch CEO Philip Belmont at the NYSE's pop-up interview studio on site. Zilch has big plans, and the NYSE will be watching! Finally, NYSE-listed behemoths Deutsche Bank and Mastercard debuted a strategic partnership on site to speed up the evolution of open banking. It enables customers to authorize payments directly from their bank accounts with real-time processing and immediate confirmation. And Klarna, in partnership with Visa, piloted a new debit card. Dubbed the "Klarna Card," it combines debit and pay-over-time features at more than 150 million Visa merchants worldwide. With more than 150 banks in attendance, it's clear to see it's the place where money does business.
