ING Groep N : 1Q2024 ING historical trend data

ING Historical Trend Data 1Q2024 Introduction

General comments

• The Historical Trend Data document includes quarterly financial trend data and details of restatements. The Historical Trend Data document is published on a quarterly basis.
• In this document consolidated results of ING Group are based on IFRS as adopted by the European Union (IFRS-EU).
• Hyperinflation accounting (IAS 29) has become applicable for ING's subsidiary in Türkiye since 2Q2022 with restrospective application from 1 January 2022.
• Allocation keys are used to calculate segmental information; e.g. Retail vs. Wholesale Banking and product information. These allocation keys might be refined over time.
• Small differences are possible due to rounding.
• All figures are unaudited.

Product segmentation Wholesale Banking
	Product Group	Sub products
•	Lending	Project and Asset-based Finance excluding Trade & Commodity Finance
		Real Estate Finance Corporate Clients
		General Lending
•	Daily Banking & Trade Finance	Transaction Services
		Trade & Commodity Finance
•	Financial Markets	Financial Markets Clients & Products
•	Treasury & Other
WB-part Treasury (Asset & Liability Management and Treasury)
		General Lease and Real Estate run-off portfolios
		General Leasing (non run-off)
		Corporate Finance
		Other

Unaudited

ING Group Historical Trend Data 1Q2024

Table of contents

1. Profit or loss	2. Balance sheet and other	3. Customer lending/deposits
1.1	Profit or loss: Comparable quarters	2.1	Consolidated Balance Sheet: Total assets -	3.1	Customer lending/deposits: 1Q2024 Segment split
1.2	Profit or loss: 1Q2024 Segment split		Comparable quarters	3.2	Customer lending/deposits: Quarterly overview
1.3	Profit or loss: Quarterly overview	2.2	Consolidated Balance Sheet: Total assets -	3.3	Customer lending/deposits: Retail Banking
1.4	Profit or loss: Retail Banking		Quarterly overview	3.4	Customer lending/deposits: Retail Banking Netherlands
1.5	Profit or loss: Retail Banking Netherlands	2.3	Consolidated Balance Sheet: Total liabilities and equity -	3.5	Customer lending/deposits: Retail Banking Belgium
1.6 Profit or loss: Retail Banking Belgium		Comparable quarters	3.6	Customer lending/deposits: Retail Banking Germany
1.7	Profit or loss: Retail Banking Germany	2.4	Consolidated Balance Sheet: Total liabilities and equity -	3.7	Customer lending/deposits: Retail Banking Other
1.8	Profit or loss: Retail Banking Other		Quarterly overview	3.8	Customer lending/deposits: Wholesale Banking
1.9	Profit or loss: Wholesale Banking	2.5	Total equity: Comparable quarters	3.9	Customer lending/deposits: Wholesale Banking - Lending
1.10	Wholesale Banking income by product	2.6	Total equity: Quarterly overview	3.10	Customer lending/deposits: Wholesale Banking -
1.11	Profit or loss: Corporate Line	2.7	Capital position			Daily Banking & Trade Finance
1.12	Geographical split: 1Q2024	2.8	Funding	3.11	Customer lending/deposits: Wholesale Banking -
1.13	Geographical split: Comparable quarters	2.9	Investments: ING Group			Financial Markets
1.14	Geographical split: Netherlands			3.12	Customer lending/deposits: Wholesale Banking -
1.15	Geographical split: Belgium					Treasury & Other
1.16	Geographical split: Germany			3.13	Customer lending/deposits: Corporate Line
1.17	Geographical split: Other Challengers			3.14	Customer lending/deposits: 1Q2024 Geographical split
1.18	Geographical split: Growth Markets			3.15	Customer lending/deposits: Geographical Netherlands
1.19	Geographical split: Wholesale Banking Rest of World			3.16	Customer lending/deposits: Geographical Belgium
1.20	Geographical split: Other			3.17	Customer lending/deposits: Geographical Germany
				3.18	Customer lending/deposits: Geographical Other Challengers
				3.19	Customer lending/deposits: Geographical Growth Markets
				3.20	Customer lending/deposits: Geographical Wholesale
						Banking Rest of World
				3.21	Customer lending/deposits: Geographical Other

Unaudited

ING Group Historical Trend Data 1Q2024

ING 1.1 Profit or loss: Comparable quarters

Profit or loss

		ING Group		of which: Retail Banking		of which: Wholesale Banking		of which: Corporate Line
In € million	1Q2024	1Q2023	4Q2023	1Q2024	1Q2023	4Q2023	1Q2024	1Q2023	4Q2023	1Q2024	1Q2023	4Q2023
Profit or loss
Net interest income	3,825	4,012	3,875	2,933	2,817	2,795	842	1,059	962	50	136	117
Net fee and commission income	998	896	879	646	575	586	354	323	296	-2	-3	-2
Investment income	8	15	-24	5	12	-19	2	3	-5	0	0	0
Other income	752	644	679	172	308	332	551	406	342	30	-70	5
Total income	5,583	5,567	5,408	3,757	3,712	3,693	1,749	1,791	1,595	78	63	120
Expenses excl. regulatory costs	2,674	2,546	2,758	1,750	1,703	1,836	805	725	800	119	118	122
Regulatory costs 1)	358	525	317	321	389	207	37	136	110	-	-0	-0
Operating expenses	3,032	3,071	3,075	2,072	2,092	2,043	841	860	910	119	118	122
Gross result	2,551	2,496	2,333	1,685	1,620	1,650	907	931	685	-42	-55	-2
Addition to loan loss provisions	258	152	86	165	242	86	93	-90	-1	0	0	2
Result before tax	2,293	2,344	2,247	1,520	1,379	1,565	814	1,021	686	-42	-55	-4
Taxation	653	715	620	423	443	441	225	270	151	6	3	28
Non-controlling interests	61	38	68	48	26	54	13	11	14	-	-	-
Net result	1,578	1,591	1,558	1,050	910	1,070	575	739	520	-48	-58	-32
Key figures
Interest margin	1.51%	1.59%	1.54%
Cost/income ratio	54.3%	55.2%	56.9%	55.1%	56.4%	55.3%	48.1%	48.0%	57.1%	n.a.	n.a.	n.a.
Risk costs in bps of average customer lending	16	9	5	14	21	8	20	-19	-0	n.a.	n.a.	n.a.
Return on equity based on IFRS-EU equity	12.8%	13.0%	12.6%
Return on equity based on 12.5% CET1 2)	16.3%	15.8%	16.3%	22.6%	19.2%	23.2%	12.5%	15.2%	11.4%	-10.0%	-12.0%	-6.9%
Risk-weighted assets (end of period)	323,063	327,377	319,169	156,353	155,587	154,366	150,677	156,218	150,288	16,033	15,571	14,515
Employees (internal FTEs, end of period)	60,678	58,693	60,360	45,139	43,853	44,930	15,499	14,687	15,391	41	154	39
Four-quarter rolling average key figures
Interest margin	1.55%	1.40%	1.56%
Cost/income ratio	51.0%	58.0%	51.2%	50.9%	60.1%	51.2%	47.0%	48.0%	47.0%	n.a.	n.a.	n.a.
Return on equity based on IFRS-EU equity	14.8%	9.7%	14.8%
Return on equity based on 12.5% CET1 2)	18.7%	11.8%	18.6%	25.7%	15.2%	24.8%	14.7%	11.6%	15.4%	-12.8%	-23.1%	-13.3%

1. Regulatory costs comprise bank taxes and contributions to the deposit guarantee schemes ('DGS') and resolution funds.
2. Annualised after-tax return divided by average equity based on 12.5% of RWA.

Unaudited

ING Group Historical Trend Data 1Q2024

ING 1.2 Profit or loss: 1Q2024 Segment split

Profit or loss 1Q2024

		Retail	Retail	Retail	Retail	Retail	Wholesale	Corporate
In € million	Total	Banking	Netherlands	Belgium	Germany	Other	Banking	Line
Balance sheet related interest	3,825	3,278	813	602	766	1,096	1,081	-534
Capital charge on book equity	-	-309	-15	-70	-87	-137	-207	516
Interest benefit on total capital	-	-35	-12	-8	-5	-10	-32	67
Net interest income	3,825	2,933	787	524	674	948	842	50
Net fee and commission income	998	646	250	148	105	144	354	-2
Investment income	1	-0	-	0	-0	-0	1	0
Realised gains and fair value changes on investments	7	5	3	2	-0	0	2	-0
Total investment income	8	5	3	2	-0	0	2	0
Valuation result and net trading income	721	153	136	12	-49	53	579	-11
Other income	31	19	9	5	2	3	-28	40
Total other income	752	172	145	17	-46	56	551	30
Total income	5,583	3,757	1,185	691	733	1,149	1,749	78
Expenses excl. regulatory costs	2,674	1,750	483	387	292	589	805	119
Regulatory costs 1)	358	321	20	203	20	79	37	-
Operating expenses	3,032	2,072	503	589	312	667	841	119
Gross result	2,551	1,685	682	101	421	481	907	-42
Addition to loan loss provisions	258	165	-17	44	40	99	93	0
Result before tax	2,293	1,520	699	58	382	383	814	-42
Taxation	653	423	179	27	126	90	225	6
Non-controlling interests	61	48	-	0	0	47	13	-
Net result	1,578	1,050	520	30	255	245	575	-48
Key figures
Interest margin	1.51%
Cost/income ratio	54.3%	55.1%	42.5%	85.3%	42.5%	58.1%	48.1%	n.a.
Risk costs in bps of average customer lending	16	14	-4	19	15	36	20	n.a.
Return on equity based on IFRS-EU equity	12.8%
Return on equity based on 12.5% CET1 2)	16.3%	22.6%	32.6%	2.8%	33.5%	20.5%	12.5%	-10.0%
Risk-weighted assets (end of period)	323,063	156,353	51,297	34,276	24,761	46,019	150,677	16,033
Employees (internal FTEs, end of period)	60,678	45,139	12,532	7,537	6,009	19,061	15,499	41
Four-quarter rolling average key figures
Interest margin	1.55%
Cost/income ratio	51.0%	50.9%	42.4%	68.9%	39.3%	57.3%	47.0%	n.a.
Return on equity based on IFRS-EU equity	14.8%
Return on equity based on 12.5% CET1 2)	18.7%	25.7%	33.6%	12.5%	34.7%	21.4%	14.7%	-12.8%

1. Regulatory costs comprise bank taxes and contributions to the deposit guarantee schemes ('DGS') and resolution funds.
2. Annualised after-tax return divided by average equity based on 12.5% of RWA.

Unaudited

ING Group Historical Trend Data 1Q2024

ING 1.3 Profit or loss: Quarterly overview

Profit or loss

In € million	4Q2024	3Q2024	2Q2024	1Q2024	4Q2023	3Q2023	2Q2023	1Q2023
Interest income				14,764	13,796	14,198	12,975	11,258
Minus: interest expense				10,939	9,922	10,170	8,914	7,246
Net interest income				3,825	3,875	4,028	4,061	4,012
Net fee and commission income				998	879	909	912	896
Investment income				1	1	102	2	1
Realised gains and fair value changes on investments				7	-25	0	-0	15
Total investment income				8	-24	103	1	15
Valuation result and net trading income				721	605	885	727	692
Other income				31	74	-83	58	-48
Total other income				752	679	802	785	644
Total income				5,583	5,408	5,842	5,759	5,567
Staff expenses				1,706	1,716	1,689	1,704	1,616
Regulatory costs 1)				358	317	109	91	525
Other expenses				968	1,042	995	830	929
Operating expenses				3,032	3,075	2,793	2,626	3,071
Gross result				2,551	2,333	3,049	3,133	2,496
Addition to loan loss provisions				258	86	183	98	152
Result before tax				2,293	2,247	2,866	3,035	2,344
Taxation				653	620	817	818	715
Non-controlling interests				61	68	67	62	38
Net result				1,578	1,558	1,982	2,155	1,591
Key figures
Interest margin				1.51%	1.54%	1.57%	1.56%	1.59%
Cost/income ratio				54.3%	56.9%	47.8%	45.6%	55.2%
Risk costs in bps of average customer lending				16	5	11	6	9
Return on equity based on IFRS-EU equity				12.8%	12.6%	16.0%	17.5%	13.0%
Return on equity based on 12.5% CET1 2)				16.3%	16.3%	20.4%	21.8%	15.8%
Risk-weighted assets (end of period)				323,063	319,169	320,797	322,926	327,377
Employees (internal FTEs, end of period)				60,678	60,360	60,174	59,474	58,693
Four-quarter rolling average key figures
interest margin				1.55%	1.56%	1.52%	1.45%	1.40%
Cost/income ratio				51.0%	51.2%	51.6%	54.4%	58.0%
Return on equity based on IFRS-EU equity				14.8%	14.8%	13.8%	11.7%	9.7%
Return on equity based on 12.5% CET1 2)				18.7%	18.6%	17.2%	14.3%	11.8%

1. Regulatory costs comprise bank taxes and contributions to the deposit guarantee schemes ('DGS') and resolution funds.
2. Annualised after-tax return divided by average equity based on 12.5% of RWA.

Unaudited

ING Group Historical Trend Data 1Q2024

ING 1.4 Profit or loss: Retail Banking

Profit or loss Retail Banking

In € million	4Q2024	3Q2024	2Q2024	1Q2024	4Q2023	3Q2023	2Q2023	1Q2023
Balance sheet related interest				3,278	3,178	3,272	3,202	3,066
Capital charge on book equity				-309	-311	-268	-231	-187
Interest benefit on total capital				-35	-71	-68	-60	-62
Net interest income				2,933	2,795	2,936	2,911	2,817
Net fee and commission income				646	586	608	569	575
Investment income				-0	2	6	2	0
Realised gains and fair value changes on investments				5	-22	1	-0	11
Total investment income				5	-19	7	1	12
Valuation result and net trading income				153	293	331	248	295
Other income				19	39	15	38	13
Total other income				172	332	346	285	308
Total income				3,757	3,693	3,897	3,766	3,712
Expenses excl. regulatory costs				1,750	1,836	1,739	1,660	1,703
Regulatory costs				321	207	94	81	389
Operating expenses				2,072	2,043	1,833	1,741	2,092
Gross result				1,685	1,650	2,064	2,025	1,620
Addition to loan loss provisions				165	86	166	113	242
Result before tax				1,520	1,565	1,898	1,911	1,379
Taxation				423	441	540	488	443
Non-controlling interests				48	54	48	46	26
Net result				1,050	1,070	1,310	1,377	910
Key figures
Cost/income ratio				55.1%	55.3%	47.0%	46.2%	56.4%
Risk costs in bps of average customer lending				14	8	15	10	21
Return on equity based on 12.5% CET1 1)				22.6%	23.2%	27.8%	29.1%	19.2%
Risk-weighted assets (end of period)				156,353	154,366	155,449	157,248	155,587
Employees (internal FTEs, end of period)				45,139	44,930	44,865	44,403	43,853
Four-quarter rolling average key figures
Cost/income ratio				50.9%	51.2%	51.7%	56.0%	60.1%
Return on equity based on 12.5% CET1 1)				25.7%	24.8%	23.2%	18.5%	15.2%

1. Annualised after-tax return divided by average equity based on 12.5% of RWA.

Unaudited

ING Group Historical Trend Data 1Q2024

ING 1.5 Profit or loss: Retail Banking Netherlands

Profit or loss Retail Banking Netherlands

In € million	4Q2024	3Q2024	2Q2024	1Q2024	4Q2023	3Q2023	2Q2023	1Q2023
Balance sheet related interest				813	748	788	838	874
Capital charge on book equity				-15	-24	-19	-11	-10
Interest benefit on total capital				-12	-24	-23	-20	-21
Net interest income				787	700	746	807	843
Net fee and commission income				250	242	246	235	235
Investment income				-	0	1	0	1
Realised gains and fair value changes on investments				3	1	2	-0	2
Total investment income				3	1	3	0	3
Valuation result and net trading income				136	230	276	176	216
Other income				9	16	10	7	8
Total other income				145	247	286	183	224
Total income				1,185	1,190	1,281	1,226	1,305
Expenses excl. regulatory costs				483	494	489	466	474
Regulatory costs				20	72	27	21	93
Operating expenses				503	566	516	487	567
Gross result				682	624	765	739	738
Addition to loan loss provisions				-17	-35	-1	-14	56
Result before tax				699	660	766	753	682
Taxation				179	171	198	193	178
Non-controlling interests				-	-	-	-	-
Net result				520	489	569	559	504
Key figures
Cost/income ratio				42.5%	47.5%	40.3%	39.7%	43.4%
Risk costs in bps of average customer lending				-4	-9	-0	-4	15
Return on equity based on 12.5% CET1 1)				32.6%	30.7%	35.7%	35.2%	31.8%
Risk-weighted assets (end of period)				51,297	50,662	51,094	50,820	50,807
Employees (internal FTEs, end of period)				12,532	12,354	12,199	11,925	11,670
Four-quarter rolling average key figures
Cost/income ratio				42.4%	42.7%	43.8%	47.0%	48.3%
Return on equity based on 12.5% CET1 1)				33.6%	33.4%	30.7%	26.9%	24.8%

1. Annualised after-tax return divided by average equity based on 12.5% of RWA.

Unaudited

ING Group Historical Trend Data 1Q2024

ING 1.6 Profit or loss: Retail Banking Belgium

Profit or loss Retail Banking Belgium 1)

In € million	4Q2024	3Q2024	2Q2024	1Q2024	4Q2023	3Q2023	2Q2023	1Q2023
Balance sheet related interest				602	607	626	585	546
Capital charge on book equity				-70	-80	-69	-55	-38
Interest benefit on total capital				-8	-15	-14	-13	-14
Net interest income				524	511	543	516	494
Net fee and commission income				148	129	133	125	115
Investment income				0	2	4	-0	0
Realised gains and fair value changes on investments				2	-1	0	-0	1
Total investment income				2	1	4	-1	1
Valuation result and net trading income				12	-6	15	22	30
Other income				5	24	-1	26	1
Total other income				17	17	15	48	31
Total income				691	658	695	689	641
Expenses excl. regulatory costs				387	425	437	396	383
Regulatory costs				203	30	-	3	177
Operating expenses				589	456	437	399	560
Gross result				101	202	257	290	81
Addition to loan loss provisions				44	28	50	13	78
Result before tax				58	174	208	277	3
Taxation				27	32	55	69	26
Non-controlling interests				0	0	0	0	0
Net result				30	141	153	207	-22
Key figures
Cost/income ratio				85.3%	69.3%	63.0%	57.9%	87.4%
Risk costs in bps of average customer lending				19	12	21	6	34
Return on equity based on 12.5% CET1 2)				2.8%	13.2%	14.5%	19.4%	-2.1%
Risk-weighted assets (end of period)				34,276	34,603	33,699	33,641	34,602
Employees (internal FTEs, end of period)				7,537	7,583	7,601	7,630	7,588
Four-quarter rolling average key figures
Cost/income ratio				68.9%	69.1%	68.4%	76.0%	81.8%
Return on equity based on 12.5% CET1 2)				12.5%	11.2%	10.9%	5.1%	2.1%

1. Including ING Luxembourg.
2. Annualised after-tax return divided by average equity based on 12.5% of RWA.

Unaudited

ING Group Historical Trend Data 1Q2024

ING 1.7 Profit or loss: Retail Banking Germany

Profit or loss Retail Banking Germany

In € million	4Q2024	3Q2024	2Q2024	1Q2024	4Q2023	3Q2023	2Q2023	1Q2023
Balance sheet related interest				766	804	837	809	718
Capital charge on book equity				-87	-83	-72	-63	-41
Interest benefit on total capital				-5	-12	-12	-11	-12
Net interest income				674	709	753	736	665
Net fee and commission income				105	84	93	83	96
Investment income				-0	0	0	-0	-0
Realised gains and fair value changes on investments				-0	-17	0	-	3
Total investment income				-0	-17	1	-0	3
Valuation result and net trading income				-49	-3	-10	-30	-14
Other income				2	-4	3	2	2
Total other income				-46	-7	-7	-29	-12
Total income				733	769	839	790	753
Expenses excl. regulatory costs				292	309	284	270	283
Regulatory costs				20	26	18	12	40
Operating expenses				312	335	303	282	323
Gross result				421	434	537	508	430
Addition to loan loss provisions				40	25	46	16	33
Result before tax				382	409	491	493	397
Taxation				126	169	173	148	141
Non-controlling interests				0	0	0	0	-0
Net result				255	241	318	344	256
Key figures
Cost/income ratio				42.5%	43.5%	36.0%	35.7%	42.9%
Risk costs in bps of average customer lending				15	10	18	6	13
Return on equity based on 12.5% CET1 1)				33.5%	30.2%	36.3%	38.3%	28.1%
Risk-weighted assets (end of period)				24,761	24,025	27,070	28,997	28,541
Employees (internal FTEs, end of period)				6,009	5,969	5,899	5,857	5,849
Four-quarter rolling average key figures
Cost/income ratio				39.3%	39.4%	40.2%	43.2%	48.9%
Return on equity based on 12.5% CET1 1)				34.7%	33.3%	30.3%	26.2%	21.0%

1. Annualised after-tax return divided by average equity based on 12.5% of RWA.

Unaudited

ING Group Historical Trend Data 1Q2024

ING 1.8 Profit or loss: Retail Banking Other

Profit or loss Retail Banking Other 1)

In € million	4Q2023	3Q2023	2Q2023	1Q2023	4Q2023	3Q2023	2Q2023	1Q2023
Balance sheet related interest				1,096	1,020	1,022	970	929
Capital charge on book equity				-137	-125	-109	-102	-98
Interest benefit on total capital				-10	-20	-19	-16	-16
Net interest income				948	875	895	853	815
Net fee and commission income				144	131	136	125	128
Investment income				-0	0	0	2	-0
Realised gains and fair value changes on investments				0	-4	-1	0	5
Total investment income				0	-4	-1	2	5
Valuation result and net trading income				53	72	50	80	63
Other income				3	3	3	3	2
Total other income				56	75	53	82	65
Total income				1,149	1,077	1,082	1,061	1,013
Expenses excl. regulatory costs				589	608	528	528	562
Regulatory costs				79	79	49	45	80
Operating expenses				667	687	577	573	642
Gross result				481	390	505	488	371
Addition to loan loss provisions				99	68	72	99	75
Result before tax				383	322	433	389	296
Taxation				90	69	114	78	98
Non-controlling interests				47	54	48	45	26
Net result				245	199	271	266	172
Key figures
Cost/income ratio				58.1%	63.8%	53.3%	54.0%	63.4%
Risk costs in bps of average customer lending				36	25	27	37	28
Return on equity based on 12.5% CET1 2)				20.5%	18.3%	23.4%	23.4%	15.2%
Risk-weighted assets (end of period)				46,019	45,076	43,587	43,791	41,636
Employees (internal FTEs, end of period)				19,061	19,024	19,165	18,990	18,745
Four-quarter rolling average key figures
Cost/income ratio				57.3%	58.6%	58.5%	64.0%	68.7%
Return on equity based on 12.5% CET1 2)				21.4%	20.1%	19.3%	13.9%	10.8%

1. Includes: Australia, Italy, Spain, Poland, Romania, Türkiye, and Other.
2. Annualised after-tax return divided by average equity based on 12.5% of RWA.

Unaudited

ING Group Historical Trend Data 1Q2024