Release details

2018-01-31 06:59 CET
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ING posts 2017 net result of EUR 4,905 million; 4Q17 net result of EUR 1,015 million

ING records continued commercial growth and further progress on Think Forward strategic priorities
· ING grew retail customer base in 4Q17 by 500,000 to 37.4 million, and primary relationships reached 10.8 million
· Net core lending in 4Q17 increased by EUR 6.8 billion; net customer deposit inflow amounted to EUR 2.7 billion

ING 4Q17 underlying pre-tax result of EUR 1,560 million; FY2017 underlying pre-tax result 2.4% up on 2016
· Solid result reflects business growth at resilient margins, growth in commission income and low risk costs
· ING's full-year underlying ROE at 10.2%; fully loaded CET1 ratio improved to 14.7%; FY2017 dividend of EUR 0.67 per share
CEO statement
"Our commitment to our customers and progress in accelerating our Think Forward strategy are evident in the good results and continued customer growth we posted for both the fourth quarter and full year 2017," said Ralph Hamers, CEO of ING.

"Our global customer base grew to 37.4 million over the year, including a 900,000 increase in the number of primary customers to 10.8 million. Our most recent net promoter scores among customers rank us first in 9 of our 13 retail markets, an achievement I am quite proud of."

"We continue to improve the experience of our customers through both our own innovations as well as through strategic partnerships. In the Netherlands, a new digital tool for small business customers links receipts and bills directly to transactions, giving customers one platform for their administration and banking. And just this week, we agreed to acquire a 75% stake in leading payments service provider Payvision, a partnership we think will strongly benefit our customers."

"Innovation is changing banking at lightning speed. One such change is blockchain, which has the potential to profoundly alter financial services by making banking better, safer, simpler, faster and cheaper for clients. Blockchain is a priority for us as we build the bank of the future, and our team had a couple of major achievements recently. These include creating blockchain code that's nearly 10 times more efficient in ensuring privacy, and using blockchain to create digital platforms for agricultural and energy commodity trades, the latter through a venture with other partners. These are milestones, and the collaboration required to achieve them symbolises the very spirit of cooperation inherent to blockchain's success."

"We strive to make a positive impact on the world through our financing and took important steps in the fourth quarter to contribute to a low-carbon and self-reliant society, which is the focus of our sustainability activities. For example, we announced that we will accelerate the reduction of our exposure to coal power generation to close to zero by 2025. This is part of our eff ort to support the energy transition that's needed to combat climate change."

"Wholesale Banking is an important contributor to the success of our Think Forward strategy. In November we announced that the Wholesale Banking business will be aligned even more around the needs and expectations of our clients, including initiatives to move to a stronger sector organisation and strengthen our international network. This will help us become a more efficient, client-focused business that offers a consistent experience across borders."

"Overall, there was strong commercial growth over 2017, with EUR 26.9 billion of net core lending growth at resilient margins and a EUR 19.0 billion net increase in customer deposits. ING's full-year underlying pre-tax result rose 2.4% to EUR 7,199 million, and the full-year underlying return on equity was 10.2%. Operating expenses rose in the fourth quarter as we stepped up our digital investments. We remain committed to the targets we communicated when we announced the acceleration of the Think Forward Strategy in October 2016. We are pleased to propose a full-year 2017 cash dividend of EUR 0.67 per share, comprising the August 2017 interim dividend of EUR 0.24 and a final dividend of EUR 0.43 per share."

"I'm proud of the steps we took in 2017 to prepare ING for the future while executing on our Customer Promise. The continued growth of new customers coming to ING shows that we are living up to this promise and empowering customers to stay a step ahead in life and in business."
Further information
All publications related to ING's 4Q17 results can be found at, including a video with Ralph Hamers. The video is also available on YouTube. Additional financial information is available at

· ING Group historical trend data (PDF, XLS)
· ING Group analyst presentation (PDF, also available via SlideShare)

For further information on ING, please visit Frequent news updates can be found in the Newsroom or via the @ING_news Twitter feed. Photos of ING operations, buildings and its executives are available for download at Flickr. Footage (B-roll) of ING is available via or can be requested by emailing ING presentations are available at SlideShare.
Investor conference call, Media conference call and webcasts 
Ralph Hamers, Koos Timmermans and Steven van Rijswijk will discuss the results in an Investor conference call on 31 January 2018 at 9:00 a.m. CET. Members of the investment community can join the conference call at +31 20 531 5821 (NL), +44 203 365 3209 (UK) or +1 866 349 6092 (US) and via live audio webcast at


Ralph Hamers, Koos Timmermans and Steven van Rijswijk will also discuss the results in a media meeting on 31 January 2018 at 11:00 a.m. CET. Journalists are welcome at ING Amsterdamse Poort, Bijlmerplein 888, Amsterdam. Alternatively, they can dial-in in listen-only mode via +31 20 531 5871 (NL) or +44 203 365 3210 (UK). The Media meeting can also be followed via live audio webcast at
Investor enquiries
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Press enquiries
T: +31 20 576 5000
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 51,000 employees offer retail and wholesale banking services to customers in over 40 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).


Sustainability forms an integral part of ING's strategy, evidenced by ING's ranking as a leader in the banks industry group by Sustainalytics. ING Group shares are included in the FTSE4Good index and in the Dow Jones Sustainability Index (Europe and World), where ING is also among the leaders in the banks industry group.
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.


Projects may be subject to regulatory approvals.


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 fi nancial information in this document, except as described otherwise, the same accounting principles are applied as in the 2016 ING Group consolidated annual accounts. The Financial statements for 2017 are in progress and may be subject to adjustments from subsequent events. All fi gures in this document are unaudited. Small diff erences 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, in particular economic conditions in ING's core markets, (2) changes in performance of financial markets, including developing markets, (3) potential consequences of European Union countries leaving the European Union or a break-up of the euro, (4) changes in the availability of, and costs associated with, sources of liquidity such as interbank funding, as well as conditions in the credit and capital markets generally, including changes in borrower and counterparty creditworthiness, (5) changes affecting interest rate levels, (6) changes affecting currency exchange rates, (7) changes in investor and customer behaviour, (8) changes in general competitive factors, (9) changes in laws and regulations and the interpretation and application thereof, (10) geopolitical risks and policies and actions of governmental and regulatory authorities, (11) changes in standards and interpretations under International Financial Reporting Standards (IFRS) and the application thereof, (12) conclusions with regard to purchase accounting assumptions and methodologies, and other changes in accounting assumptions and methodologies including changes in valuation of issued securities and credit market exposure, (13) changes in ownership that could affect the future availability to us of net operating loss, net capital and built-in loss carry forwards, (14) changes in credit ratings, (15) the outcome of current and future legal and regulatory proceedings, (16) ING's ability to achieve its strategy, including projected operational synergies and cost-saving programmes and (17) 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 Many of those factors are beyond ING's control.


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