ING posts 2Q17 net result of EUR 1,371 million
(Thomson Reuters ONE) -
ING records continued commercial growth and further progress on accelerating
Think Forward strategic priorities
· ING grew retail customer base in 1H17 by 700,000 to 36.5 million, and
primary relationships increased by 400,000 to 10.1 million
· Net core lending in 2Q17 increased by EUR 6.4 billion; net customer deposit
inflow amounted to EUR 5.3 billion
ING 2Q17 underlying pre-tax result of EUR 1,992 million; ING declares interim
cash dividend of EUR 0.24 per ordinary share
· Strong result reflects volume growth at resilient margins, higher commission
income and a gain on the sale of an equity stake
· ING Group 2Q17 four-quarter rolling ROE was 10.8%; ING Group fully loaded
common equity Tier 1 (CET1) ratio stable at 14.5%
CEO statement
"At ING, we are passionate about providing a differentiating experience to our
customers, who are at the heart of everything we do," said Ralph Hamers, CEO
of ING Group. "Banking and technology keep changing faster and faster. We keep
pace by continuously adapting and improving to meet customers' needs, and we
aim to exceed their expectations. Our strategy drives our consistent and
sustainable growth, as evidenced by the strong increase in our worldwide
customer base in the first six months of the year to 36.5 million, of which
10.1 million are considered primary customers."
"Innovation is in our DNA and our diverse capabilities in this area constantly
enhance the customer experience. During the second quarter of 2017, we
introduced the 'Banking to go' app in Germany which includes new technologies
that make banking easier and more personal. 'Banking to go' was co-created by
a team from Germany and the Netherlands, using customer feedback. The app
demonstrates how countries and teams are uniting across ING to meet our
ambition to provide a uniform customer experience in all of our markets,
anywhere and anytime. This goal of uniting services is also reflected in our
vision of ING for the future: offering a single, borderless digital platform
with a clear and easy experience wherever you are in the world. A platform
where ING products and services are supplemented by third-party offerings, and
where all of our customers' financial needs can be satisfied."
"During the second quarter, we made important strides in establishing the
internal operational framework for our digital transformation. We also
realised further progress on our commercial ambitions, with EUR 6.4 billion of
net core lending growth at stable margins, despite aggressive competition in
some of our markets, and a EUR 5.3 billion increase in net customer deposits.
In the second quarter of 2017, ING Group's underlying pre-tax result was EUR
1,992 million, driven by the continued volume growth at resilient interest
margins, higher commission income and a one-time gain on the sale of an equity
stake in the real estate run-off portfolio. Operating expenses remained under
control, supported by the benefits from ongoing cost-saving initiatives, but
they edged up higher due to a one-off legal provision related to a business
that was discontinued in Luxembourg around the year 2000. On a four-quarter
rolling basis, ING Group's underlying return on equity improved to 10.8% from
8.8% a year ago."
"ING Group's fully loaded CET1 ratio remained strong at 14.5% at the end of
June 2017. We are committed to maintaining a capital position in excess of
prevailing fully loaded requirements and to providing an attractive return to
shareholders. In the second quarter, we reserved EUR 0.9 billion of the
quarterly net profit for future dividend payments, as we did with the first-
quarter net profit. Today, we declare an interim cash dividend of EUR 0.24 per
ordinary share over the first half of 2017, which is equal to the amount paid
over the first half of 2016."
"Our second-quarter performance confirms that the core elements of our
strategy are as relevant as ever in the fast-changing worlds of banking and
technology, and that we are able to execute steadily on our priorities. We're
on the right track to achieve our strategic milestones while continuing to
support our growing customer base as we build the bank of the future."
Further information
All publications related to ING's 2Q17 results can be found at
www.ing.com/2q17, 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 Steven van Rijswijk will discuss the results
in an Investor conference call on 2 August 2017 at 9:00 a.m. CET. Members of
the investment community can join the conference call at +31 20 341 8255
(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 Steven van Rijswijk will also discuss the
results in a media conference call on 2 August 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.
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 ING 2Q17 Results Press Release (PDF):
http://hugin.info/130668/R/2124903/810889.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: 02.08.2017 - 06:59 Uhr
Sprache: Deutsch
News-ID 554936
Anzahl Zeichen: 12064
contact information:
Town:
Amsterdam
Kategorie:
Business News
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