ING 2Q15 underlying net result EUR 1,118 million
(Thomson Reuters ONE) -
ING Bank 2Q15 underlying net result EUR 1,118 million, up 21.1% from 2Q14 and
5.8% lower than in 1Q15
· 2Q15 results driven by strong loan and deposit growth, lower risk costs and
positive CVA/DVA adjustments
· Consistent execution on Think Forward priorities: EUR 8.7 billion core
lending growth in 2Q15; 600,000 new customers in 1H15
· ING Bank underlying return on IFRS-EU equity rose to 11.8% for the first six
months of 2015, in line with Ambition 2017
ING Group 2Q15 net result EUR 1,359 million (EUR 0.35 per share) including
Insurance results and NN deconsolidation
· Further execution on restructuring: ING Group's stake in NN Group reduced to
37.6%, leading to deconsolidation
Capital position continued to strengthen; ING declares 2015 interim cash
dividend of EUR 0.24 per ordinary share
· Strong fully-loaded CET1 ratios: ING Group increased to 12.3%; ING Bank
ratio stable after capital upstream
· Interim cash dividend of EUR 0.24 per ordinary share, equivalent to 40% of
underlying net profit for the first half of 2015
CEO statement
"ING posted a strong set of commercial and financial results during the second
quarter of 2015," said Ralph Hamers, CEO of ING Group. "We also achieved a key
milestone in our restructuring by reducing our stake in NN Group to 37.6% and
deconsolidating it from our accounts, thereby ending restrictions on price
leadership and acquisitions."
"ING Bank's second-quarter underlying result before tax was EUR 1,601 million,
up 25.3% year-on-year, driven by robust loan and deposit growth and lower risk
costs. Positive CVA/DVA adjustments amounted to EUR 208 million, but were
largely offset by non-recurring impacts in income relating to mortgage
refinancings. On a sequential basis, the underlying result before tax was
3.6% lower than in the first quarter of 2015."
"Our businesses across the Bank continued to generate strong commercial growth
and attract new customers. Total customer deposits increased by EUR 9.3
billion in the quarter, primarily through Retail Banking, where growth was
recorded in all segments. During the second quarter, we extended EUR 8.7
billion of net lending in our core lending businesses. We made significant
progress on building sustainable balance sheets in key Challengers & Growth
Markets such as Germany and France. Germany, in particular, demonstrated
strong momentum in its lending capabilities, with funded Commercial Banking
assets increasing nine-fold over the past five years to reach EUR 10 billion,
and consumer lending growing by EUR 1 billion in less than two years to EUR 5
billion."
"During the first six months of 2015, ING gained over 600,000 new individual
customers and established approximately 250,000 primary relationships. We take
great pride in supporting our customers' banking needs and providing them with
a differentiating customer experience. In the second quarter, we continued to
expand our digital offerings for retail customers and also identified new ways
to facilitate the financing needs of small companies. For example, in Belgium
we partnered with Koalaboox, an online financial services provider, to offer
small companies cash management and invoicing tools to help them manage their
financial position. And by using data mining in Poland, we have been able to
provide pre-approved loans to selected entrepreneurs, which has improved the
customer experience and made the lending process more efficient."
"ING Bank performed well against its Ambition 2017 targets during the first
half of 2015. The underlying return on IFRS-EU equity increased to 11.8% and
our capital position strengthened further as we continued to allocate our
resources efficiently. ING Group's fully-loaded CET 1 ratio increased to
12.3% at the end of the second quarter, following the further sell-down and
subsequent deconsolidation of NN Group. ING Bank's fully-loaded CET 1 ratio
was 11.3%, roughly stable quarter-on-quarter, reflecting 30 basis points of
capital generation and a EUR 1.2 billion capital upstream to Group."
"Today, we are pleased to announce an interim cash dividend of EUR 0.24 per
ordinary share, amounting to EUR 922 million, or 40% of the underlying net
profit of the first half of 2015. We remain committed to returning value to
shareholders and reiterate our intention to pay a full-year dividend of at
least 40% of ING Group's total annual net profits. The Board's final decision
will be made at year-end and will be subject to financial and strategic
considerations, and future regulatory developments."
"ING's performance during the first half of 2015 demonstrates consistent
delivery on our Think Forward priorities, to which we hold ourselves
accountable every day. Looking forward to the rest of this year, I am
confident that our franchise is well positioned to empower our customers
around the world while delivering sustainable returns to our shareholders."
Further information
All publications related to ING's 2Q15 results can be found at
www.ing.com/2q15, including a video interview with Ralph Hamers, which is also
available at YouTube.
Additional financial information is available at www.ing.com/qr:
- ING Group Historical Trend Data
- ING Group Analyst Presentation (also available via SlideShare)
- ING Group Condensed consolidated interim financial information for the
period ended 30 June 2015.
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. Video is available on YouTube. 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, media conference call and webcasts
Ralph Hamers, Patrick Flynn and Wilfred Nagel will discuss the results in an
analyst and investor conference call on 5 August 2015 at 9:00 a.m. CET.
Members of the investment community can join the conference call at + and via
live audio webcast at www.ing.com.
Ralph Hamers and Wilfred Nagel will also discuss the results in a Media
Conference call conference on 5 August 2015 at 11:00 a.m. CET. Journalists are
welcome to join the conference call via +31 20 5315871 (NL),or
+44 20 7190 1537 (UK) or +1 480 629 9031 (US). The Media conference call can
also be followed via live audio webcast at www.ing.com or via Periscope via
ING's Twitter handle (at)ING_news.
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
ING PROFILE
ING is a global financial institution with a strong European base, offering
banking services through its operating company ING Bank and holding a
significant stake in the listed insurer NN Group NV. The purpose of ING Bank
is empowering people to stay a step ahead in life and in business. ING Bank's
more than 52,000 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
In preparing the financial information in this document, the same accounting
principles are applied as in the 2014 ING Group Annual Accounts.
ING Group's Annual Accounts are prepared in accordance with International
Financial Reporting Standards as adopted by the European Union ('IFRS-EU').
All figures in this document and attachments are unaudited. Small differences
are possible in the tables due to rounding.
Certain of the statements contained in this document 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) ING's
implementation of the restructuring plan as agreed with the European
Commission, (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 buy, any securities.
pdf version of press release:
http://hugin.info/130668/R/1943303/703869.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#1943303]
Unternehmensinformation / Kurzprofil:
Datum: 05.08.2015 - 06:59 Uhr
Sprache: Deutsch
News-ID 411565
Anzahl Zeichen: 12773
contact information:
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