ING Bank posts 2014 underlying net profit of EUR 3,424 million; Dividends reinstated with EUR 0.12 per ordinary share
(Thomson Reuters ONE) -
ING Bank full-year 2014 underlying net profit of EUR 3,424 million, up 8.5%
from full-year 2013
- Strong full-year 2014 results reflect higher interest results, strict
expense control and lower risk costs
- 4Q14 underlying net result of EUR 548 million reflects redundancy
provisions, annual Dutch bank tax and negative CVA/DVA
- Full-year 2014 underlying return on IFRS-EU equity improved to 9.9%; year-
end fully-loaded CET 1 ratio strengthened to 11.4%
ING Group full-year 2014 net result EUR 1,251 million (EUR 0.32 per share),
including special items and Insurance results
- 4Q14 net result was EUR 1,176 million (EUR 0.30 per share) including results
from discontinued operations of NN Group and Voya
- Significant progress on restructuring in 2014: Dutch State fully repaid, NN
Group stake reduced to 68%, Voya stake down to 19%
ING reinstates dividend payments on ordinary shares and will propose to pay
EUR 0.12 per share at the AGM in May
- Financial strength enables ING to propose to pay a cash dividend of EUR 470
million, or EUR 0.12 per ordinary share
- ING intends to pay a minimum of 40% of ING Group's annual net profits to
shareholders, through dividends, effective from 2015
CEO STATEMENT
"2014 was an important and successful year for ING," said Ralph Hamers, CEO of
ING Group. "We launched our 'Think Forward' strategy, repaid the Dutch State
ahead of schedule and moved closer to completing our restructuring plan. We
are proud to have solidified our repositioning as a leading European bank and
pleased to see that both NN Group and Voya are thriving as standalone
companies. Today, I am delighted to announce the reinstatement of dividend
payments on ordinary shares with a proposed cash dividend of EUR 0.12 per
share."
"In 2014, ING Bank welcomed over one million new customers and established
half a million primary banking relationships. I am grateful for the loyalty of
our customers and for the dedication of our employees to deliver a
differentiating experience to our customers every day. Following the launch of
'Think Forward', our Chief Innovation Officer and Chief Operations Officer
have been working together to deliver innovations and service improvements to
our customers as quickly as possible. We have already introduced a steady
stream of improvements during 2014, the most recent being biometrics
technology in Belgium, and are excited about other new projects that will
debut this year."
"ING Bank posted a strong set of full-year 2014 results, despite some
headwinds in the fourth quarter. Interest results were robust, risk costs
approached normalised levels and our continued vigilance on costs was evident
as we invested for the further digitalisation of our banking services in the
Netherlands and extended our ongoing transformation programme within
Commercial Banking. Our fourth-quarter result was dampened by redundancy
provisions related to these actions, the annual Dutch bank tax and negative
CVA/DVA impacts which lowered the underlying result before tax to EUR 783
million. Excluding those items, the underlying result before tax was a strong
EUR 1,376 million. ING Bank's underlying net profit for the full-year 2014 was
EUR 3,424 million, up 8.5% from 2013. The improvement was driven by higher
interest results, disciplined expense control and lower risk costs, and
despite negative CVA/DVA impacts. The full-year underlying return on IFRS-EU
equity rose to 9.9% and ING Bank ended the year with a fully-loaded CET1 ratio
of 11.4%."
"Our efforts to support our customers and the economy contributed to strong
commercial growth during 2014. The Bank grew net lending by EUR 14.7 billion
in 2014, driven by robust growth in our core lending businesses and despite
further reductions in the runoff portfolios. Net lending assets in the core
businesses grew by EUR 18.5 billion in 2014, or 3.8%, which is in line with
our strategy. Total net inflow of funds entrusted amounted to EUR 16.8
billion, demonstrating the strength of our deposit-gathering capabilities."
"ING has started 2015 with a strong financial position and a clear focus on
empowering our growing customer base through outstanding products and customer
service. I am optimistic about the prospects for our bank and am confident
that we are well positioned to build on our strategic momentum. We remain
committed to reaching our Ambition 2017 targets and are pleased that we are
able to begin returning capital to our shareholders. Our intention is to pay a
minimum of 40% of ING Group's annual net profits to shareholders, through
dividends, with effect from 2015. Furthermore, at the end of each financial
year, the Board will recommend whether to return additional capital to
shareholders dependent on financial, strategic and regulatory considerations."
INFORMATION FOR EDITORS
A video interview with Ralph Hamers is available at www.ing.com and at
YouTube.
For further information on ING, please visit www.ing.com. Frequent news
updates can be found in the Newsroom or via the (at)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 videobankonline.com, or can
be requested by emailing info(at)videobankonline.com. ING presentations are
available at SlideShare.
For convenient access to the latest financial information and press releases
both online and offline, download the ING Group Investor Relations and Media
app for iOs on the Apple Store or for Android on Google Play.
Investor conference call, press conference and webcasts
Ralph Hamers, Patrick Flynn and Wilfred Nagel will discuss the results in an
analyst and investor conference call on 11 February 2015 at 9:00 a.m. CET.
Members of the investment community can join the conference call at
+31 20 794 8500 (NL), +44 20 7190 1537 (UK) or +1 480 629 9031 (US) and via
live audio webcast at www.ing.com.
Ralph Hamers, Patrick Flynn and Wilfred Nagel will also discuss the results in
a press conference on 11 February 2015 at 10:30 a.m. CET. Journalists are
welcome at ING Amsterdamse Poort, Bijlmerplein 888, Amsterdam. Alternatively
they can join a conference call via +31 20 531 5871 (NL) or +44 203 365 3210
(UK). Live audio webcast at www.ing.com.
Investor enquiries
T: +31 20 576 6396
E: investor.relations(at)ing.com
Press enquiries
T: +31 20 576 5000
E: media.relations(at)ing.com
Our Quarterly Publications
A full overview of ING's results is available in the ING 4Q2014 Publications
Suite. Additional information is available in the following documents, which
can be downloaded from around 7:00 am CET at www.ing.com/qr:
- ING Group Results Full Press Release in PDF
- ING Group Historical Trend Data
- ING Group Analyst Presentation (also available via SlideShare)
- ING Group Media Presentation (also available via SlideShare)
- ing.world, ING Group's online magazine, for anyone who is interested in ING
ING PROFILE
ING is a global financial institution of Dutch origin offering banking
services through its operating company ING Bank and holding significant
stakes in the listed insurers NN Group NV and Voya Financial, Inc. The
purpose of ING Bank is empowering people to stay a step ahead in life and in
business. ING Bank's 53,000 employees offer retail and commercial banking
services to customers in over 40 countries.
ING Group shares are listed (in the form of depositary receipts) on the
exchanges of Amsterdam (INGA NA, ING.AS), Brussels and on the New York Stock
Exchange (ADRs: ING US, ING.N).
Sustainability forms an integral part of ING's corporate strategy, which is
evidenced by ING Group shares being included in the FTSE4Good index and in
the Dow Jones Sustainability Index (Europe and World) where ING is the
industry leader in the diversified financials group.
IMPORTANT LEGAL INFORMATION
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, the same accounting
principles are applied as in the 3Q2014 ING Group Interim Accounts.
The financial statements for 2014 are in progress and may be subject to
adjustments from subsequent events
All figures in this document and attachments 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, 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)
consequences of a potential (partial) break-up of the euro, (4) the
implementation of ING's restructuring plan to separate banking and insurance
operations, (5) changes in the availability of, and costs associated with,
sources of liquidity such as interbank funding, as well as conditions in the
credit markets generally, including changes in borrower and counterparty
creditworthiness, (6) the frequency and severity of insured loss events, (7)
changes affecting mortality and morbidity levels and trends, (8) changes
affecting persistency levels, (9) changes affecting interest rate levels, (10)
changes affecting currency exchange rates, (11) changes in investor, customer
and policyholder behaviour, (12) changes in general competitive factors, (13)
changes in laws and regulations, (14) changes in the policies of governments
and/or regulatory authorities, (15) conclusions with regard to purchase
accounting assumptions and methodologies, (16) changes in ownership that could
affect the future availability to us of net operating loss, net capital and
built-in loss carry forwards, (17) changes in credit-ratings, (18) ING's
ability to achieve projected operational synergies and (19) the other risks
and uncertainties detailed in the Risk Factors section contained in the most
recent annual report of ING Groep N.V. 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. The securities of NN Group have not been and will not be
registered under the U.S. Securities Act of 1933, as amended (the "Securities
Act"), and may not be offered or sold within the United States absent
registration or an applicable exemption from the registration requirements of
the Securities Act.
PDF version of Full ING FY2014 Results press release:
http://hugin.info/130668/R/1893413/670903.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: ING Group via GlobeNewswire
[HUG#1893413]
Unternehmensinformation / Kurzprofil:
Datum: 11.02.2015 - 06:59 Uhr
Sprache: Deutsch
News-ID 370700
Anzahl Zeichen: 13320
contact information:
Town:
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Kategorie:
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