Ing Groep N.v. · EURONEXT:INGA
Ing Groep — IPO Roadshow (April 2015)
27 slides from Ing Groep's IPO roadshow presentation, Apr 6, 2015
Slide 1: Inaugural AT1 Roadshow April 2015
Free Writing Prospectus Filed Pursuant to Rule 433 Reg. Statement No. 333-202880 ING Writing Inaugural April Free Filed Reg. Group Statement Pursuant 2015AT1 www.ing.com Prospectus Roadshow toNo. Rule 333-202880 433
Slide 2: Executive summary
Executive FY14 ING We …and The NPLs Ample AT1 Issuer: Structure: Currency: Rationale: Tranche: Loss 7.0% Subject Expected Ba2 Buffer EUR Except information *(“2014 ** 1CET1 FY Buffer have Bank by transaction Group Bank absorption: 2014 36 phased-in phased-in remained ratios strong to ING liquidity a
Slide 3: ING Group
ING Group 2 thinkforward ING &®
Slide 4: ING Group: Full Voya and NN Group divestments
INGGroup Full Voya Insurance Sold Premiums 3.5 10.0 Received Restructuring Dutch Bank Resolved NN Behavioural 3Going divestment 10.0 Group To Financial divestments State forward, bePaid sales Nominal Asia and 45% to sold –has plans fully constraints be monetisation virtually coupons 100% of ING NN b
Slide 5: Phased-in CET1 ratio of ING Group
Phased-in 13.5% 40.5 1.3 13.0% 33.3 38.8 -5.0 2.1 of Group 1Q15 NN in *All ** *** Strong Sales FY14 ING The 4Over For 1Q15 Voya Reversal capital Group Adjustments excess 41.8 Group Group’s time, of asale phased-in CET1 shares 13.9% 11.2% adjusted presentation and Voya Common of ratios shares with ca
Slide 6: Fully-loaded CET1 ratio of ING Group
Fully-loaded 34.4 31.5 3.0 11.5% 10.5% of CET1 adjusted sale 1Q15 NN in 13.2% Financial 33.7 39.2 -5.0 9.8 Institutions deductions** divestment Group *All ** *** Strong Sales FY14 ING The 5Over For 1Q15 Voya Reversal capital Group Adjustments excess of Group Group’s time, of afully-loaded ratio CET1
Slide 7: ING Group Parent Assets
ING Parent Assets —ING Investments -—Debenture Other Total Following 6On-lent Available-for-sale NNGroup Receivables Other Group assets subordinated assets company Liabilities Bank 0.1 receivables, receivables the Grandfathered consists 65.5 (68%) in 13.8 38.1 loans from monetisation Group balance T
Slide 8: ING Bank
ING Bank , thinkforward ING &®
Slide 9: Underlying income development
Underlying (non-GAAP, 1.1 15.6 15.2 15.0 0.7 2.3 2.2 3.3 3.7 8.5 Interest 8.0 ING Supported Income development in Geographic Rest Germany 22% Belgium 35% Netherlands Outside 11% Net 21% 151 *2012 ** *** 8from CVA/DVA terms Excluding 1.2 income 2.2 3.5 9.1 Interest 132 Other Bank of the 2013 Other Co
Slide 10: Expenses and cost savings
Expenses 8.7 2011 Costs .and In Target Cost Announced Retail NL ING Belgium Commercial Banking 9Total 2014, addition, 8.6 2014 we is Bank savings 2012 Bank have Banking cost disciplined 8.6 will we 2014 2012 195 have adjusted 2013 8.6 remained Target 662 achieved we have continue 2012 (in savings 26
Slide 11: Lending portfolio well diversified
76006 50 2.3 0336 -21.1 Lending 12% Rest Germany Belgium 39% *15% ** Credit Residential 17% Benelux 9% 49% General 11% transaction ING Other 10.1Orange 3Includes 74 48 2.1 1.4 0.1 Industry Bank of 3% Netherlands Outside Other 2007 83 55 outstandings** 2.3 -1.3 Europe lending portfolio Business line
Slide 12: ING Bank strong capital generation and Basel III
ING Strong Basel 9.6% 11.4% 2009 7.8% Limited 10.4% 0.3% Comprehensive 8.4% Assessment •starting Capital Total -143 This *Source: 11 ING Basel has compares bps 2011 impact 10.0% 1.4% II Bank 11.4% increase generation III point European Basel impact generated Stress 2013 phased-in 8.7% (CA)(AQR) repo
Slide 13: ING Bank common equity and leverage requirement
ING Common 11.4% 31/12/2014 4.5% 2.5% requirement 39 6A 34 Leverage 4.1% Total Customer Banks *Professional the ith 12dditional The 38 Fully-loaded the EC Bank liabilities 4.0% leverage Equity Delegated 3.0% formally in ambition equity deposits capital Tier Minimum line buffer >10% funding exposure
Slide 14: Possible AT1 and TLAC requirements
Possible AT1 CET1 Minimum Assumed Additional T2 AT CET The Finalisation Assuming TLAC ING Given Grandfathered Senior 13 ~2.0% 3.2% 1Financial ~1.5% has Bank 11.9%* Management SRB Capital Pillar the eligible proposals versus debt 11.4% TLAC flexibility TLAC amount Total total TLAC has TLAC 3.0% as ex
Slide 15: ING Group ambitions and guidance
ING Fully-loaded RoE**** C/I*** Leverage** Group 2013 2014 4Q Ambition >10% 40% We Guidance Aim Target *Interim ** In and *** 142013 January Non-GAAP. Group will the Non-GAAP. Bank to of 10.0% 11.4% ~4% dividend is reach alignment annual and aim pro-forma (IFRS-EU 2017 net 2015, 50-53% final 4.1% 3.
Slide 16: Additional Tier 1 Issue
Additional Tier 1 Issue s thinkforward ING 4»
Slide 17: Summary of AT1 instrument terms
Summary Instrument Tranche Loss Expected Ranking Currency Denomination/offering Coupon Issuer Early Trigger Absorption •Equity Listing governed Bail-in Risk Securities 2014 16 Application Factors Absorption 20-F Redemption •conversion rating call Power &Event ING ••securities cancellation •[US$ byGo
Slide 18: Current ING Group capital versus requirements
Current 13.5% 2.7% 2.0% 1.5% 2.5% 13.9% 3.0% ING 4.5% for from Future requirements T2 shares CET1 Tier Systemic 17 Voya the 2Group’s Group regulators 3.1% 2.0% 10.5% 11.5% Capital in 16.6% general Group regulatory and 1Q15 Buffer capital NN plus FY14 current 16.6% The Conservation regulatory shares
Slide 19: AT1 coupons amply covered by distributable items
AT1acoupons As No During Coupon Distributions ING Other Share Non-distributable Total Interest Distributable 18 distributions Group—distributable Group multiple 35.8 premium reserves ofthe expenses payments associate 34.1 financial currently available (in on items to of21.6 EUR Tier 16.0 shareholder
Slide 20: Ample buffer above MDA restrictions
Ample EUR 9.4% group 0.8% 1.5% 2.3% 3.0% 4.5% 0.6% 1.3% 2015 CET1 Headroom MDA CBR The *Therefore multiplied purposes, ** phased-in 19 The The current Group 28.2 2016 is ratio 1.9% 4.5% restrictions buffer shares buffer CET1—Capital buffer phased-in the RWA abln** by adjusted above 2017 CET1 2.5% 4.
Slide 21: ING Group trigger buffer and dividend policy
ING 13.9% 14 18 21 (7%) Trigger FY14 Voya 7% Buffer The This In Dividend Our Furthermore, 20 February 21 capital ING intention Group’s equals and 21 CET1 phased-in 13.0% to Group conversion policy NN Buffer six 2015, ratios at current is 11.5% Group times the to phased-in CET1 to ING pay including e
Slide 22: Important information: presentation of financial information
Important PRESENTATION Unless IFRS-EU from information IASB, Certain This investors’ Fully-loaded weighted Adjusted and Leverage Underlying underlying operations. (included include period’s 21 NN document IFRS see otherwise Non-GAAP items Group. divestments. phased-in assets ratio: in understanding
Slide 23: Important information: marketing and selling restrictions
Important MARKETING The published In to such beneficial Certain underwriters, TMR the retail Capital investment Markets apply including Where representations, For complies Any amended publish 22 time, particular, holding the Capital document as client Rules, toacting avoidance Securities the of athe
Slide 24: Important notices to investors
Important NOTICES Forward Certain involve outside markets, (vi) affecting governments loss, other assumes make Additional 6, Risks Investing own Capital governing exercise no the Prospectus 23 2015 scheduled availability other the financial net risks in Associated Securities ING’s frequency of known
Slide 25: Important notices to investors (continued)
Important NOTICES persons. of Securities (EDGAR®) This Promotion) Order, 2000 document relevant Notice The (Cap.32, circumstances or Hong investors” 24 theCapital maydocument (“FSMA”)) Kong Capital (iii) to be persons ING Laws U.S. Persons legal (when is in within TO are Order Securities (except dir
Slide 26: Important notices to investors (continued)
Important NOTICES Notice This subscription directly Where (a) or (b) “securities” that (i) Section (ii) (iii) (iv) (v) 25 more to aas where as where corporation document corporation trust an specified specified the to276(4)(i)(B) 275(1A), or individuals, institutional Persons (where no legal Capital
Slide 27: Important notices to investors (continued)
Important NOTICES directly Japan), compliance an Securities, corresponding investors time This persons Notice The the Other No Prospectus will 26 issue applicable action Capital Securities result to document, document Jurisdictions to time. or or without prospectus only, Persons may to legal in indi