Ing Groep N.v. · EURONEXT:INGA
Ing Groep — Q3 2025 Earnings Presentation
30 slides from Ing Groep's earnings presentation, Oct 30, 2025
Slide 1: 3Q2025 Continued value accretive growth
3Q2025 Continued value accretive growth 30 October 2025
Slide 2: Commercial momentum continues with strong growth in 3Q2025
Commercial momentum continues with strong growth in 3Q2025 Mobile primary Lending Deposits Fee Return Sustainable customers growth2) growth2) income on equity3) volume mobilised +197,000 €14.2 bln €-0.2 bln €1,165 mln 12.6% €110 bln4) 37% of our >40 mln 7% annualised net 6% annualised ne
Slide 3: Commercial growth has resulted in consistent strong capital generation
Commercial growth has resulted in consistent strong capital generation 1.8% 14.3% 13.4% -0.9% -0.3% -1.3% -0.2% 3Q2024 Capital Regular RWA Additional Other 3Q2025 CET1 ratio generation dividends consumption distributions CET1 ratio €6.1 bln €-3.1 bln €-1.1 bln €-4.5 bln net regular capital cash and
Slide 4: Capital generation has enabled attractive returns for shareholders
Capital generation has enabled attractive returns for shareholders Distributions (in € mln) Share price (in €) Shareholder return (in %) As distributed in the respective quarter Four-quarter DPS1) / four-quarter rolling share price 22.1 3,368 17.4% 15.0% 15.9% 15.3% 18.6 13.9% 18.0 2,366 2,152 1,964
Slide 5: CET1 ratio target adjusted for higher regulatory requirements
CET1 ratio target adjusted for higher regulatory requirements Development regulatory requirement since last CET1 target update • CET1 ratio target adjusted to cater for higher (expected) regulatory requirements • Current fully-loaded CET1 MDA of +50 bps 10.95%, up 9 bps versus 2Q2025, ~13% ~12.5% re
Slide 6: Capital allocation will continue to accelerate growth and increase returns
Capital allocation will continue to accelerate growth and increase returns Earnings per share1) • Well-diversified business mix and low risk profile results in predictable Continue providing cashflow an attractive • Policy to distribute 50% of (resilient) net profit, resulting in an attractive share
Slide 7: 2025 outlook
2025 outlook 7
Slide 8: Our 2025 outlook has improved further
Our 2025 outlook has improved further Previous 2025 outlook Improved 2025 outlook Mobile primary customers Mobile primary customers annual growth annual growth +1 mln +1 mln Total income Total income 2025 2025 Roughly stable ~€22.8 bln Fee income Fee income 2025 2025 Higher end of 5-10% growth >10%
Slide 9: 3Q2025 results
3Q2025 results 9
Slide 10: Strong total income with growth in net interest income and fees
Strong total income with growth in net interest income and fees Total income (in € mln) 5,909 5,898 5,637 5,702 5,407 1,003 809 910 749 657 1,009 1,094 1,122 1,165 1,001 3,897 3,749 3,794 3,772 3,823 3Q2024 4Q2024 1Q2025 2Q2025 3Q2025 Commercial NII Fee income All other income • Increased commercial
Slide 11: Continued growth in customer lending
Continued growth in customer lending Customer lending (in € bln) Strong growth in customer lending • €8.6 bln net core lending growth in Net core lending growth €14.2 bln Retail Banking, driven by ongoing 0.1 growth of the mortgage portfolio. 7.7 5.7 709.0 Additional growth in consumer 1.0 694.7 len
Slide 12: Higher commercial net interest income supported by lending
Higher commercial net interest income supported by lending Breakdown commercial NII (in € mln) Average customer balances (in € bln)1) Development of margins (in bps) +5.3% 3,897 3,823 238 3,749 3,794 3,772 226 226 223 222 1,794 1,630 1,685 1,659 1,674 668 680 678 643 652 128 128 125 125 125 112 101
Slide 13: Strong and structural increase in fee income
Strong and structural increase in fee income Fee income per product category (in € mln) Structural growth • Another strong quarter in fee income, +15% with continued structural growth 1,094 1,122 1,165 (~75% alpha driven) 1,009 1,001 66 82 92 68 78 60 62 69 69 290 • Retail Banking fees grew 14% YoY
Slide 14: All other income supported by continued strong results in FM and Treasury
All other income supported by continued strong results in FM and Treasury All other income (in € mln) • Financial Markets is driven by client activity, and we continued supporting 1,003 our clients in turbulent times, mostly 106 809 910 in FX and interest rate management 54 126 749 91 • Financial st
Slide 15: Continued proactive cost management
Continued proactive cost management Expenses (in € mln) Regulatory costs (in € mln) Incidental items (in € mln) Excluding regulatory costs and incidental items 2,792 2,881 2,835 2,841 2,872 116 109 347 361 73 88 78 24 67 4 3Q2024 4Q2024 1Q2025 2Q2025 3Q2025 3Q2024 4Q2024 1Q2025 2Q2025 3Q2025 3Q2024
Slide 16: Risk costs below the through-the-cycle average
Risk costs below the through-the-cycle average Risk costs per business line Stage 2 ratio Stage 3 ratio Totals including Corporate Line 9.4% 8.4% 8.6% 2.0% 20 18 18 17 19 8.3% 8.3% 1.9% 8.3% 1.8% 7.6% 8.1% 1.7% 336 8.9% 1.7% 1.7% 313 326 7.2% 1.6% 1.6% 299 299 8.7% 8.2% 8.2% 1.5% 1.5% 89 134 7.7% 19
Slide 17: Capital ratio increased due to strong profitability
Capital ratio increased due to strong profitability CET1 capital ratio development (in %) +0.5% 13.3% 13.4% 12.9% ~13% -0.3% -0.2% -0.0% -0.5% 11.2% 2Q2025 Net result Dividend Other capital RWA 3Q2025 Announced 3Q2025 CET1 ratio reserve movements distribution pro forma target Expected fully-loaded C
Slide 18: Concluding remarks
Concluding remarks • Another strong quarter, with continued commercial momentum, in line with our strategy to accelerate growth • Resilient strong capital generation enabling attractive shareholder returns • Announcement of a €1.6 bln additional distribution, aligning our CET1 ratio with our updated
Slide 19: Q&A
Q&A 19
Slide 20: Appendix
Appendix 20
Slide 21: 3Q2025 results overview
3Q2025 results overview 3Q2025 results overview (in € mln) Reported P&L Volatile items P&L excluding volatile items Commercial NII 3,823 0 3,823 Fee income 1,165 1 1,164 All other income 910 76 834 Total income 5,898 77 5,821 Expenses excl. regulatory costs 2,945 73 2,872 Regulatory costs 67 0 67 Op
Slide 22: Volatile income and expense items
Volatile income and expense items Volatile items (in € mln) 3Q2024 4Q2024 1Q2025 2Q2025 3Q2025 WB/FM – valuation adjustments 8 -13 -6 -26 22 Capital gains/losses -51 -64 6 -14 5 Hedge ineffectiveness1) 170 -53 -10 -49 21 Other items income2) 46 -62 -29 -21 30 Total volatile items – income 173 -191 -
Slide 23: Retail Banking countries contributing to strong returns
Retail Banking countries contributing to strong returns Retail Banking Total Netherlands Belgium1) Germany Spain Italy Australia Poland Romania Türkiye Scale (3Q2025) Customers (mln) 40.5 7.8 2.5 9.4 4.6 1.3 2.8 4.5 1.8 5.9 o.w. primary (mln) 16.7 4.9 1.2 3.2 1.8 0.5 1.2 2.3 1.0 0.6 o.w. mobile prim
Slide 24: Liability margin supported by disciplined repricing
Liability margin supported by disciplined repricing Replicating income on Retail eurozone Total liability margin to stabilise at a 3-month EURIBOR forward curves customer deposits 100-110 bps Implied interest rates, end-of-period, in bps Interest income in € bln1) Average liability margin in bps1) 4
Slide 25: Impact accounting asymmetry
Impact accounting asymmetry Treasury interest rate differential (in € mln) Wholesale Banking Financial Markets (in € mln) 18 376 415 371 17 19 17 391 29 302 231 226 269 253 515 521 525 203 446 416 -174 -207 52 29 61 59 53 -214 -252 -236 -143 -167 -108 -192 -212 3Q2024 4Q2024 1Q2025 2Q2025 3Q2025 3Q2
Slide 26: Granular deposit base
Granular deposit base Total customer deposits per segment (in € bln) • Highly insured, granular and growing customer deposits represent a strong 698 692 734 738 736 funding base 42 69 42 74 20 79 40 76 82 40 • ~70% of total deposits is from 121 126 122 122 124 private individuals, of which ~85% is D
Slide 27: Additions to loan loss provisions per Stage
Additions to loan loss provisions per Stage Stage 1 provisioning (in € mln) Stage 2 provisioning (in € mln) Stage 3 provisioning (in € mln) Total includes Corporate Line Including modifications and total includes Corporate Line 26 84 15 15 453 7 52 7 17 19 17 81 19 361 3 -2 -2 43 33 311 12 2 -21 -37
Slide 28: Well-diversified lending credit outstandings by activity
Well-diversified lending credit outstandings1) by activity ING Group Retail Banking Wholesale Banking 10% 6% 14% 23% 32% 16% 4% 20% €835 bln €568 bln €568 bln €268 bln 13% 11% 25% 58% 5% 65% 68% 8% 5% 18% Retail Banking Residential mortgages Mortgages Netherlands Lending Wholesale Banking Consumer l
Slide 29: Wholesale Banking lending credit outstandings
Wholesale Banking lending credit outstandings1) Diversification across geographies Diversification across sectors 1% 8% Netherlands 2% 8% Real Estate, Infra & Construction 15% BeLux Commodities, Food & Agri 11% 11% 2% Germany 32% TMT & Healthcare Retail Other countries Transportation & Logistics €26
Slide 30: Important legal information
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’). In preparing the financial information in this document, except as described otherwise, the same accounting principles ar