Ing Groep Nv (INGVF) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, thank you, and good morning, and welcome to our results call for the third quarter of 2025. I hope you're all well, and thank you for joining us. As usual, I'm joined by our CRO Liliane Chortan and our CRO Tanev Putrakul. While macroeconomic and geopolitical uncertainty remains prevalent, we have again delivered a strong quarter as we continue to execute our strategy to accelerate growth, increase our impact, and deliver customer value. In today's presentation, I will start by sharing further insights in how our capital allocation will continue to fuel growth and increase returns. And I will also update you on our long-term capital targets. Thereafter, Tenaid will walk you through the quarterly financials, and as always, we will be happy to take your questions at the end of the call. And now, let's move to slide two. This slide highlights our continuous strong commercial momentum in the third quarter, with solid growth across key areas. We have added nearly 200,000 mobile primary customers during the quarter, bringing growth in the last 12 months to over 1.1 million, well ahead of the targets set at our capital markets day. Our loan book expanded significantly in both retail and wholesale, and retail saw 8.6 billion in net core lending growth, driven mainly by residential mortgages. wholesale banking also delivered a strong quarter, supported by trade, finance services and lending, reflecting increased client financing needs. Core deposits declined slightly following substantial inflows in previous quarters, and this was largely due to the inclusion of promotional campaigns and seasonal spending patterns during the summer in retail banking. On the other hand, wholesale banking posted strong inflows, particularly in payments and cash management, financia...