ING Groep (INGA) AGM 2025 summary

Opening remarks and agenda

• The meeting was opened with a welcome to shareholders, board members, and external auditors, with translation services provided and clear instructions on meeting conduct and question procedures.

• The agenda included reports from the Executive and Supervisory Boards, the remuneration report, financial statements, auditor's presentation, and voting on key items.

Financial performance review

• 2024 saw record income of EUR 22.6 billion and a net result of EUR 6.4 billion, with strong growth in customers, deposits, and lending, especially in mortgages in Germany and the Netherlands.

• Fee income grew by 11% to over EUR 4 billion, diversifying revenue streams beyond interest income.

• The capital ratio decreased to 13.6%, with a target to converge to 12.5% CET1 by end of 2025, and a return on equity of 13%.

• Two share buybacks totaling EUR 5 billion were executed, reducing the number of shares and supporting earnings per share.

Board and executive committee updates

• The Executive Board and Supervisory Board members were introduced, with specific mention of committee chairs and their roles.

• Reappointments of key executive and supervisory board members were proposed and approved, ensuring continuity in leadership.