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ING Groep (INGA) investor relations material
ING Groep Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary30 Oct, 2025
Executive summary
Achieved strong commercial momentum in Q3 2025, adding 197,000 new mobile primary customers and surpassing 1.1 million added in the last 12 months, with a four-quarter rolling ROE of 12.6%.
Net result for Q3 2025 was €1,787 million, up 6.7% sequentially, with total income of €5,898 million, driven by growth in net interest income and fees.
Announced an additional €1.6 billion shareholder distribution, including a new €1.1 billion share buyback and €500 million cash dividend, following completion of a €2.0 billion buyback.
Updated CET1 capital ratio target to around 13% to reflect regulatory changes and maintain a prudent buffer, with CET1 ratio at 13.4%.
Improved 2025 outlook with higher fee growth, stronger total income, and ROE above 12.5%.
Financial highlights
Net profit for Q3 2025 was €1,787 million, with net profit of €6 billion over the past four quarters.
Commercial net interest income reached €3,823 million; fee income up 15% year-over-year to €1,165 million.
Net core lending grew by €14.2 billion in Q3, with Retail Banking contributing €8.6 billion and Wholesale Banking €5.7 billion.
Net core deposits declined by €0.2 billion, with outflows in Retail offset by inflows in Wholesale.
Sustainable finance volumes up 29% year-over-year, with €110 billion mobilised in 9M2025.
Outlook and guidance
2025 total income outlook raised to approximately €22.8 billion, with fee income expected to grow over 10%.
Total costs for 2025 guided towards the lower end of €12.5–€12.7 billion.
ROE outlook for 2025 raised to above 12.5%; CET1 capital ratio target set at ~13%.
Lending margin expected to remain around 125 basis points, with potential to rise to 125–130 basis points by 2026–2027.
Mobile primary customers expected to grow by 1 million in 2025.
Future capital return strategy given new CET1 target?
Retail deposit outflow: impact on funding mix?
Efficiency gains from digital investments?
How will capital above 13% CET1 be deployed?
Pace of AI-driven efficiency gains across regions?
NII outlook for 2026-2027 given rate curve?
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Q4 202526 Feb, 2026
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Frequently asked questions
A Dutch Banking Powerhouse
Internationale Nederlanden Groep, more often than not referred to as ING, is a prominent financial institution based in the Netherlands with a wide-ranging presence globally. The current form of ING came to be in 1991 through the merger of Nationale-Nederlanden and NMB Postbank Group. Since then the company has grown and evolved and now provides a range of services, including retail and commercial banking, insurance, and asset management. The company operates in around 40 countries, serving millions of customers, businesses, and institutions.
A Merger That Paved the Way
The birth of ING Group was the result of a merger between two prominent Dutch companies in the early 90s Nationale-Nederlanden was an insurance company, and NMB Postbank was a large bank originally owned by the Dutch state, which was privatized in 1986. This merger of competencies created a solid foundation for the ING Group to emerge as a universal banking and insurance provider.
Banking and Insurance Services
The services provided by ING Group span different aspects of the financial sector. On the retail banking side, ING is known for its direct banking model, providing customers with traditional banking services as well as an extensive online banking package. These services include checking and savings accounts, mortgages, and personal loans.
ING Group's presence in the financial sector isn't limited to banking services. The company also offers a variety of insurance products as part of its comprehensive service portfolio. These insurance services cater to diverse customer needs, providing coverage for various life events and situations. Customers can select from life and non-life insurance products, including home insurance, health insurance, and car insurance.
Expansion Across Dutch Borders
ING is a company firmly planted on Dutch soil but has in the years after its inception grown outside of the country's borders. After its formation, ING Group quickly expanded its footprint outside the Dutch market through several strategic acquisitions in the 1990s and early 2000s, including Belgium's BBL and Poland's Bank Śląski. Today, the company is one of the most important in the European Banking sector and competes with names such as Deutsche Bank, BNP Paribas, and Barclays.
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