ING posts 3Q17 net result of EUR 1,376 million
(Thomson Reuters ONE) -
ING records continued commercial growth and further progress on Think Forward
strategic priorities
· ING grew retail customer base in 3Q17 by 400,000 to 36.9 million, and
primary relationships reached 10.5 million
· Net core lending in 3Q17 increased by EUR 8.0 billion; net customer deposit
inflow amounted to EUR 4.2 billion
ING 3Q17 underlying pre-tax result of EUR 1,995 million
· Strong result reflects business growth at resilient margins and low risk
costs
· ING Group 3Q17 four-quarter rolling ROE improves to 11.0%; ING Group fully
loaded CET1 ratio remained stable at 14.5%
CEO statement
"We look back on a quarter in which our businesses performed well as we make
progress on accelerating our Think Forward transformation programmes," said
Ralph Hamers, CEO of ING Group."In the Netherlands, cost savings from earlier
transformation efforts are coming through now. Our global customer base grew
to 36.9 million, including an increase in the number of primary customers to
10.5 million. We always put our customers first, and in the midst of the
transformation programmes these results are quite an achievement."
"The results also confirm that we are on the right path in transforming ING
into the bank of the future as we strive to empower people to stay a step
ahead in life and in business by being clear, easy, consistent and convenient.
We know there's much to learn from others through this process, and we see
value in combining strengths through cooperation. An example is our recently
announced partnership with online wealth manager Scalable Capital in Germany.
This expands our offering with digital investment management services, also
known as robo-advice. We will continue to create and co-create customer
experiences like these - those that are personal, seamless, instant and
relevant."
"Our innovation partnerships take various forms. Last week we announced ING
Ventures, a EUR 300 million fund that will invest in start-ups and companies
that have already gained some market traction. ING Ventures will help
accelerate the pace of innovation, one of our priorities. Each investment will
be strictly aligned with our strategy to deliver a differentiating customer
experience."
"In order to better serve small and medium-sized enterprises (SMEs), we
recently launched offerings for SMEs in Italy and France together with five
fintech partners who each cover a part of the loan process, from onboarding to
disbursement. Business clients can get approval for a loan of up to EUR
100,000 within 10 minutes as we use the right risk assessment tools and
combine a seamless and instant digital service with the personal touch they
expect. This is a great advantage for customers who want to concentrate on
running their businesses and don't want to spend too much time on banking."
"Part of helping people and businesses stay a step ahead is preparing them for
the world of tomorrow. We played a role in ground-breaking sustainable finance
projects, including acting as joint mandated lead arranger in the GBP 250
million bond for Anglian Water, the first sterling (GBP) green bond in the
public utility sector, and as part of the banking syndicate providing project
financing for one of Australia's largest solar plants."
"Overall, we've seen good commercial growth in the third quarter, with EUR
8.0 billion of net core lending growth at stable margins and a EUR 4.2 billion
increase in net customer deposits. ING Group's third-quarter underlying pre-
tax result was EUR 1,995 million. Operating expenses remained under control,
supported by the benefits from ongoing cost-saving initiatives. Our focus on
profitable business led to ING Group's underlying return on equity on a four-
quarter rolling basis improving to 11.0% from 9.1% a year ago."
"Our continuous efforts were recognised by being named "Best Bank in the
World" by Global Finance magazine. I therefore want to conclude by thanking
our employees worldwide, who are working hard every day to genuinely,
energetically and skilfully serve our customers. With the dynamic, ever-
changing environment we're operating in, I know it isn't always easy. I'm
inspired by the ING team every day."
Further information
All publications related to ING's 3Q17 results can be found at
www.ing.com/3q17, 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 November 2017 at 9:00 a.m. CET. Members of
the investment community can join the conference call at +31 20 531 5821 (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 November 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 3Q17 Results Press Release (PDF):
http://hugin.info/130668/R/2146629/823119.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: 02.11.2017 - 06:59 Uhr
Sprache: Deutsch
News-ID 566288
Anzahl Zeichen: 12103
contact information:
Town:
Amsterdam
Kategorie:
Business News
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