ING 1Q16 underlying net result EUR 842 million
(Thomson Reuters ONE) -
ING's Think Forward strategy continues to improve the customer experience and
drive commercial growth
· Strengthened focus on innovation with further investments in proprietary
technologies and collaborations with fintechs
· ING Bank attracted EUR 8.8 billion of net customer deposits and recorded EUR
7.1 billion of net core lending growth in 1Q16
ING Bank 1Q16 underlying net result EUR 842 million despite significant
increase in regulatory expenses
· Underlying pre-tax result EUR 1,186 million; or EUR 1,682 million before EUR
496 million of regulatory costs in the quarter
· Net interest result increased, driven by volume growth and a higher interest
margin; commission income held up well
· Quality of loan book improved: risk costs continue to decline and the NPL
ratio decreased to 2.3%
ING Group 1Q16 net result EUR 1,257 million (EUR 0.32 per share) including
profit on sales of NN Group shares in January
· Group's restructuring and strategic repositioning completed through the
final sales of NN shares in January and April 2016
· Strong Group fully-loaded common equity Tier 1 (CET1) ratio of 12.9%, up
from 12.7% at the end of December 2015
CEO statement
"The digital banking landscape has never been more dynamic than it is today,"
said Ralph Hamers, CEO of ING Group. "Customers are changing the way they
bank, which requires us to be flexible and agile. Our Think Forward strategy
has enabled us to rise to this challenge and deliver a differentiating
experience to our more than 34 million customers around the world."
"ING Bank's most recent Net Promoter Scores rank us as number one relative to
our competitors in seven countries. This recognition underscores that ING is
delivering on the customer promise that is at the heart of our strategy. It
also motivates us to keep getting better as we strive to achieve our purpose
of empowering people in life and in business."
"In the first quarter of 2016, we made further investments in customer-
friendly technologies and outside collaborations. We became the first bank in
France to introduce a digital financial advisor, 'Coach Epargne', which helps
customers to make more informed savings and investment choices. In the
Netherlands, we started working with small enterprises in our 'Ondernemerslab'
facility to co-develop new services that meet their business needs in areas
such as finance and marketing. In Wholesale Banking, we added new services to
our InsideBusiness digital banking platform and expanded the platform's
availability to the UK and Ireland, empowering clients in these countries to
manage their finances anytime and anywhere."
"We actively monitor advances in the fintech space and are able to respond
quickly to opportunities that have the potential to improve the customer
experience. We are currently partnered with around 45 fintechs dedicated to
creating innovative solutions for banking needs, such as money management,
payments, lending and mobile on-boarding. For example, seven start-ups are
working on their 'proof-of-concept' through the ING Fintech Village initiative
in Belgium, and four through the Innovation Studio in the Netherlands. These
open, collaborative programmes involve multiple partners and provide access to
their respective networks, allowing the start-ups to accelerate their
development."
"Our strong customer focus reinforces the commercial momentum of our business.
During the first quarter of 2016, customers entrusted ING with an additional
EUR 8.8 billion of net deposits and we extended EUR 7.1 billion of net core
lending. Margins remained healthy, supporting the higher quarterly interest
result. The quality of the loan book also improved, as evidenced by lower risk
costs and a further decline in the NPL ratio. The Bank's solid underlying pre-
tax result of EUR 1,186 million reflects these factors and EUR 496 million of
regulatory costs. In 2016, regulatory costs are expected to increase by over
EUR 300 million to approximately EUR 960 million, impacting our cost/income
ratio as we look for ways to offset these higher costs."
"In January and April 2016, we sold our remaining stake in NN Group, marking
the completion of our divestment programme and the last step in our strategic
repositioning. Including the net profit from the sales of NN Group shares in
January, ING Group's first-quarter net result was EUR 1,257 million. ING Group
ended the quarter with a strong fully-loaded CET1 ratio of 12.9%, excluding
the first-quarter net profit and the impact of the NN share sale in April.
With our robust capital and liquidity position, we are well-placed to adapt to
the ever-changing regulatory environment."
"Looking ahead, our focus is to accelerate the execution of our Think Forward
strategy. I am grateful to our employees for their dedication to serving our
customers to the best of our ability. Our priorities are clear, and I am
confident that ING's strong portfolio of businesses will enable us to continue
empowering our customers and deliver sustainable shareholder returns."
Further information
All publications related to ING's 2016 First Quarter can be found at
www.ing.com/1q16, including a video 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)
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.
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 10 May 2016 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 media conference call on 10 May 2016 at 11:00 a.m. CET. Journalists are
welcome to join the conference call via +31 20 531 5871 (NL) or
+44 203 365 3210 (UK). The media conference call can also be followed via 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
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 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 among the
leaders in the Banks industry 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, except as described
otherwise, the same accounting principles are applied as in the 2015 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, 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) breakup 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 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, (10) changes in the
policies of governments and/or regulatory authorities, (11) conclusions with
regard to purchase accounting assumptions and methodologies, (12) changes in
ownership that could affect the future availability to us of net operating
loss, net capital and built-in loss carry forwards, (13) changes in credit
ratings, (14) ING's ability to achieve projected operational synergies and
(15) 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 www.ING.com.
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.
Full ING Group 1Q16 Results Press Release (PDF):
http://hugin.info/130668/R/2010979/744388.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#2010979]
Unternehmensinformation / Kurzprofil:
Datum: 10.05.2016 - 06:59 Uhr
Sprache: Deutsch
News-ID 469737
Anzahl Zeichen: 12351
contact information:
Town:
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Kategorie:
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