ING 1Q17 net result EUR 1,143 million
(Thomson Reuters ONE) -
ING continues to record commercial growth in 1Q17 with consistent focus on
innovation and sustainability
· Primary customer numbers up: EUR 5.7 billion net core lending growth and EUR
6.7 billion net customer deposit inflow
· ING's innovative new products and services as well as sustainability
initiatives are increasingly being adopted by the market
ING 1Q17 underlying pre-tax result of EUR 1,652 million, up 39.3% year-on-year
· Strong result reflects robust loan growth at resilient margins, improved
performance in Financial Markets and lower risk costs
· ING Group fully-loaded common equity Tier 1 (CET1) ratio of 14.5%, up from
14.2% at year-end 2016
CEO statement
"ING had a strong first quarter supported by continued commercial growth,"
said Ralph Hamers, CEO of ING Group. "ING's underlying pre-tax result rose
39.3% to EUR 1,652 million from a year ago, reflecting continued loan growth,
good cost control and relatively low risk costs. Wholesale Banking's
contribution was particularly strong, led by higher income from Financial
Markets and commissions. While the first-quarter net result declined to EUR
1,143 million from EUR 1,257 million a year ago, this is explained by a EUR
506 million profit from the sale of shares in NN Group in the first quarter of
2016."
"We continued to innovate in Wholesale Banking, where Easy Trading Connect
reached a milestone by successfully completing the first test of a large oil
trade using blockchain technology, in cooperation with one of our clients and
a major French bank. This proves that the commodity trade finance sector,
where processes are largely paper-based and labour intensive, can be
digitalised. We also collaborated with our client Royal Philips, acting as
Sustainability Coordinator in the creation of the first syndicated loan where
the pricing is linked to the client's Sustainalytics rating. If the rating
goes up, the interest rate on the EUR 1 billion revolving credit facility goes
down-and vice versa. This is an example of how companies are increasingly
integrating sustainability into their business objectives."
"We're innovating across other areas of the bank as well. For example, with
Payconiq, the mobile payments platform developed by ING, launched in Belgium
in 2015 and now supported by two other Belgian banks. The number of Belgian
retailers using the service has increased to 25,000 from 6,500 in July of last
year. Following this success, ING and five other Dutch banks announced plans
to launch Payconiq in the Netherlands this summer."
"I am proud that all of the innovations highlighted above were developed by
ING and then adopted by other banks. This underscores our record as a digital
banking leader and shows that we're able to provide an experience for
customers that makes us stand out from our competitors. This approach is just
one of the reasons why our Net Promoter Score has improved to number one in
eight countries, up from seven countries last quarter. ING had 36.1 million
customers as at 31 March 2017, including 9.85 million primary bank customers,
which is an increase of 8.4% year-on-year."
"Our net core lending grew by EUR 5.7 billion in the quarter, well diversified
across Retail and Wholesale Banking, and net customer deposits increased by
EUR 6.7 billion. Stable margins and higher commissions helped drive a 39.5%
increase in the underlying net result compared with the first quarter of
2016. Operating expenses were well controlled, despite seasonally high
regulatory costs, while risk costs remained low. ING Group's fully loaded CET1
ratio increased by 0.3 percentage point to 14.5% at the end of March 2017,
while the four-quarter underlying return on equity improved to 10.8% from
8.1% a year ago."
"As we announced in October 2016, ING is uniting people, platforms and
processes to build the bank of the future. In Belgium, ING and our trade union
partners agreed on a Social Plan that supports employees whose jobs may be
impacted and results in a lower number of compulsory lay-offs, while staying
in line with the financial impact we estimated in October."
"We said farewell to CFO Patrick Flynn this week and will do the same for CRO
Wilfred Nagel in August. I'm grateful for all that they have done for ING and
for me personally over the years. As of this week, we welcome Koos Timmermans
and Steven van Rijswijk to the Executive Board, and Roland Boekhout to the
Management Board Banking. Their leadership will help drive ING's
transformation into the digital bank of the future as we focus on remaining
relevant for our customers, thereby ensuring our own sustainable success."
Further information
All publications related to ING's 1Q17 results can be found at
www.ing.com/1q17, including a video with Ralph Hamers. The video is also
available on YouTube. Additional financial information is available at
www.ing.com/qr:
· ING Group historical trend data (PDF, XLS)
· ING Group analyst presentation (PDF, 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. Footage (B-roll) of ING is available via ing.yourmediakit.com or can
be requested by emailing info(at)yourmediakit.com. ING presentations are
available at SlideShare.
Investor conference call, Media conference call and webcasts
Ralph Hamers, Koos Timmermans and Wilfred Nagel will discuss the results in an
Investor conference call on 10 May 2017 at 9:00 a.m. CET. Members of the
investment community can join the conference call at
+31 20 341 8241 (NL), +44 203 365 3209 (UK) or
+1 866 349 6092 (US) and via live audio webcast at www.ing.com.
Ralph Hamers, Koos Timmermans and Wilfred Nagel will also discuss the results
in a media conference call on 10 May 2017 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 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 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
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. Insofar as they could have an
impact in Belgium, all projects described are proposed intentions of the bank.
No formal decisions will be taken until the information and consultation
phases with the Work Council have been properly finalised.
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 2016 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, 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
www.ING.com. 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.
Full version of results press release (PDF):
http://hugin.info/130668/R/2103257/797801.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: ING Group via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 10.05.2017 - 06:59 Uhr
Sprache: Deutsch
News-ID 541393
Anzahl Zeichen: 12844
contact information:
Town:
Amsterdam
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 309 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"ING 1Q17 net result EUR 1,143 million"
steht unter der journalistisch-redaktionellen Verantwortung von
ING Group (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
