Ing Groep N.v. · EURONEXT:INGA
Ing Groep — ING Group — Shareholder Meeting (May 2014)
24 slides from Ing Groep's shareholder meeting presentation, May 12, 2014
Slide 1: Report of the Executive Board for 2013
Report of the Executive Board for 2013 Simpler, stronger, sustainable Ralph Hamers CEO ING Group Amsterdam – 12 May 2014 NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR www.ing.com INDIRECTLY, IN OR INTO CANADA, JAPAN OR AUSTRALIA
Slide 2: 2013 in short
2013 in short Our financial and non-financial performance 2
Slide 3: For customers
For customers = Mai prietenos, mai usor de folosit ING
Slide 4: Customers recommend ING to family and friends
Customers recommend ING to family and friends Net Promoter Score (NPS) ranking vs. local competitors (2013) Awards ING Bank and NN Group 2013 A selection of awards 1st 1st 1st Belgium Netherlands Germany 2nd Poland 2nd Romania 2nd 2nd France Turkey 1st 1st Spain 2nd 1st Australia Italy Austria Sourc
Slide 5: ING: a strong brand
ING: a strong brand Strong brand position In top 100 most valuable brands in the world Brand awareness, spontaneous + prompted (2013, %) Brand value (2014, millions US dollars) 100 104,680 93 88 95 91 95 92 95 94 79 82 78,752 73 69 68,620 13,674 NL Bel Ger Pol Aus Aut Fra Ind Ita Rom Spa Tur Lux 1.
Slide 6: ING Group: successful year in 2013, with an improved underlying net result
ING Group: successful year in 2013, with an improved underlying net result In EUR million 2012** 2013** 1Q 2014 Income* 27,116 26,344 8,403 Expenses* 23,360 21,945 7,018 Result before taxation* 3,756 4,400 1,384 Taxation/third party interests* 1,094 1,145 396 Underlying net result 2,664 3,255 988 Di
Slide 7: Bank operations
Bank operations In EUR million 2012 2013 1Q 2014 Income* 14,313 15,305 3,818 Expenses* 10,759 10,982 2,642 Result before taxation* 3,554 4,323 1,176 Taxation/third party interests* 1,104 1,168 346 Underlying net result 2,450 3,155 830 Divestments/discontinued operations/special items 684 -124 -566 N
Slide 8: NN Group
NN Group In EUR million 2012* 2013* 1Q 2014 Operating result ongoing business 833 886 274 Non-operating items ongoing business -779 -229 -28 Japan Closed Block VA 105 -669 -36 Divestments/discontinued operations/special items 319 95 -583 Result before tax 478 83 -372 Taxation/ third party interests
Slide 9: ING share price shows considerable increase in 2013
ING share price shows considerable increase in 2013 Relative performance ING-share 2013 and 1Q 2014 1.6 1 January 2013: € 7.06 High 2013: € 10.10 (31 December) 1.5 31 December 2013: € 10.10 Low 2013: € 5.54 (28 March) 31 March 2014: € 10.28 High 1Q14: € 10.93 (15 January) 1.4 1.3 1.2 1.1 1 0.9 0.8 0
Slide 10: Restructuring
Restructuring 10
Slide 11: Separation of banking and insurance substantially completed
Separation of banking and insurance substantially completed • Successful IPO of Voya Financial (ING U.S.). ING’s stake reduced and deconsolidated; currently 43% • Divestment of our Asian insurance and investment management operations largely complete • Agreement with the EC on revised timelines for
Slide 12: Repayment of Dutch State
Repayment of Dutch State • Unwinding of IABF agreed upon in Final payment to the Dutch State due ultimately in May 2015 2013 and completed early 2014 (in EUR mln) 12,506 1,025 13,531 • Tranches of repayment to Dutch State in November 2013 and March 10,000 342 3,531 3,189 2014. Total paid brought to
Slide 13: Simpler, stronger, sustainable
Conclusion 2013 Simpler, stronger, sustainable 13
Slide 14: NN Group: predominantly European insurance and investment management company
NN Group: predominantly European insurance and investment management company Milestones in 2013: • Presentation of the company: the future brand name NN, its business, scope, strategy, capital framework, executive team and corporate values • These steps show further momentum in preparations for the
Slide 15: Leading Dutch insurer with strong European footprint, and attractive Japanese business
Leading Dutch insurer with strong European footprint, and attractive Japanese business Our presence Our business Poland Japan • Strong business positions with international presence #1 MPF 1 Pension & #7 Top 3 player in Czech Rep. Life COLI • Investment management presence in 18 countries #6 VPF2 Pe
Slide 16: Diversified business mix with strong presence in a number of European markets and Japan
Diversified business mix with strong presence in a number of European markets and Japan Top 3 player in Japanese COLI market4 Market leader in Dutch Life; Strong earnings and stable cash flow 20% market share3 Large closed book of individual life business International asset manager with E
Slide 17: The banking industry is going through a period of unprecedented change
The banking industry is going through a period of unprecedented change 1
Slide 18: ING Bank has a unique starting position
ING Bank has a unique starting position • Strong deposit gatherer across Europe Effective business • Leading ‘direct-first’ bank in Europe model • Client-focused Commercial Bank supported by leading Industry Lending franchise • Disciplined cost management Track record • Solid balance sheet of delive
Slide 19: Rianne: some corrections here
WIP twofish, CB Rianne: some corrections here targets to be added Replace ‘Aspirational >10 point lead (instead of 20) goals’ by ‘Aspirations’ Replace bullet by: - 10% of income generated from new services by 2020 Adjust/Add: - Average of 2.5 product categories per Retail customer - [CB still need t
Slide 20: Purpose: Empowering people to stay a step ahead in life and in business
Purpose Empowering people to stay a step ahead in life and in business Customer Promise Clear and Anytime, Keep Empower easy anywhere getting better Strategy Creating a differentiating customer experience Simplify and Operational Performance Lending streamline excellence culture capabilities 4
Slide 21: Value Creation roadmap is tailored to current market positions
Value Creation roadmap is tailored to current market positions 2013 – 2017 roadmap Market leaders Challengers Growth markets ING Bank 2017 ~4% loan growth and margin Income + ++ ++ improvement Flat till 2015. Thereafter Costs - + + depending on income growth C/I - - - 50-53% RoE + + + 10-13% Manage
Slide 22: We confirm our targets for 2017 and intend to resume dividend payments to shareholders
We confirm our targets for 2017 and intend to resume dividend payments to shareholders over the financial year 2015 Ambition 2017 Guidance • Target fully loaded CET1 ratio remains >10% but it is prudent to maintain a CET-1 comfortable buffer above the minimum to absorb regulatory changes and >10% po
Slide 23: Conclusion
Conclusion , thinkforward ING 2
Slide 24: Disclaimer
Disclaimer 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’). The financial information in this document is partly derived from audited 2013 Annual Accounts and partly from