ING Groep (INGA) Q1 2026 earnings summary

Executive summary

• Achieved strong and diversified growth in Q1 2026, with net result reaching €1,556 million, up 6.9% year-over-year, driven by increases in mobile primary customers, lending, and fee income.

• Maintained #1 NPS in five of nine retail markets, leveraging technology and AI for superior customer experience.

• Continued execution of growth strategy focused on digitalization, operational scalability, and customer experience.

• Resilience amid geopolitical and macroeconomic uncertainty, with positive momentum in EPS and ROTE.

• On track to achieve upgraded financial outlook for 2026 and 2027.

Financial highlights

• Net profit for 1Q2026 was €1,556 million, with total income up 3.3% year-over-year to €5,823 million.

• Commercial net interest income reached €4,060 million, up 12%, and fee income rose 13% year-over-year to €1,236 million.

• Return on tangible equity (ROTE) reached 13.6% for the quarter.

• Operating expenses (excluding regulatory/incidental items) increased 1.1% year-over-year to €2,865 million.

• Risk costs were €346 million (19 bps of average lending), below through-the-cycle average.

Outlook and guidance

• Outlook for 2026 and 2027 confirmed: targeting >14% ROTE in 2026 and >15% in 2027, with CET1 ratio around 13%.

• Expecting annual growth of 1 million mobile primary customers and 5–10% fee income growth.

• Commercial NII guidance for 2026 raised to €16.5–€16.7 billion.

• Operating expenses projected at €12.6–€12.8 billion in 2026, ~€13 billion in 2027, excluding incidentals.

• 2027 total income expected to exceed €25 billion, with ROTE above 15%.