ING Groep N : Historical Trend Data 4Q2020

ING Historical Trend Data 4Q2020 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).

• • 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

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: Assets - Comparable quarters
1.2	Profit or loss: 4Q2020 Segment split	2.2	Consolidated Balance sheet: Assets - Quarterly overview
1.3	Profit or loss: Quarterly overview	2.3	Consolidated Balance sheet: Liabilities and Equity -
1.4	Profit or loss: Retail Banking	Comparable quarters
1.5	Profit or loss: Retail Banking Benelux	2.4	Consolidated Balance sheet: Liabilities and Equity -
1.6	Profit or loss: Retail Banking Netherlands	Quarterly overview
1.7	Profit or loss: Retail Banking Belgium	2.5	Total equity: Comparable quarters
1.8	Profit or loss: Retail Banking Challengers & Growth Markets	2.6	Total equity: Quarterly overview
1.9	Profit or loss: Retail Banking Germany	2.7	Capital position
2.8	Funding
2.9	Investments: ING Group

• 1.10 Profit or loss: Retail Banking Other Challengers & Growth Markets

• 1.11 Profit or loss: Wholesale Banking

• 1.12 Profit or loss: Wholesale Banking - Lending

• 1.13 Profit or loss: Wholesale Banking - Daily Banking & Trade Finance

• 1.14 Profit or loss: Wholesale Banking - Financial Markets

• 1.15 Profit or loss: Wholesale Banking - Treasury & Other

• 1.16 Profit or loss: Corporate Line

• 1.17 Geographical split: 4Q2020

• 1.18 Geographical split: Comparable quarters

• 1.19 Geographical split: Netherlands

• 1.20 Geographical split: Belgium

• 1.21 Geographical split: Germany

• 1.22 Geographical split: Other Challengers

• 1.23 Geographical split: Growth Markets

• 1.24 Geographical split: Wholesale Banking Rest of World

• 1.25 Geographical split: Other

• 3.1 Customer lending/deposits: 4Q2020 Segment split

• 3.2 Customer lending/deposits: Quartery overview

• 3.3 Customer lending/deposits: Retail Banking

• 3.4 Customer lending/deposits: Retail Banking Netherlands

• 3.5 Customer lending/deposits: Retail Banking Belgium

• 3.6 Customer lending/deposits: Retail Banking Germany

• 3.7 Customer lending/deposits: Retail Banking Other Challengers & Growth Markets

• 3.8 Customer lending/deposits: Wholesale Banking

• 3.9 Customer lending/deposits: Wholesale Banking - Lending

• 3.10 Customer lending/deposits: Wholesale Banking -

  Daily Banking & Trade Finance

• 3.11 Customer lending/deposits: Wholesale Banking - Financial Markets

• 3.12 Customer lending/deposits: Wholesale Banking - Treasury & Other

• 3.13 Customer lending/deposits: Corporate Line

• 3.14 Customer lending/deposits: 4Q2020 Geographical split

• 3.15 Customer lending/deposits: Geographical Netherlands

• 3.16 Customer lending/deposits: Geographical Belgium

• 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

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	4Q2020	4Q2019	3Q2020	4Q2020	4Q2019	3Q2020	4Q2020	4Q2019	3Q2020	4Q2020	4Q2019
Profit or loss
Net interest income	3,344	3,597	3,329	2,376	2,462	2,405	945	1,025	909	24	109
Net fee and commission income	771	735	734	516	432	479	255	303	253	-0	-0
Investment income	6	26	103	4	25	102	3	-5	2	0	7
Other income	48	81	120	114	128	-52	40	-2	210	-106	-45
Total income	4,169	4,439	4,286	3,009	3,047	2,934	1,242	1,322	1,374	-83	71
Expenses excl. regulatory costs	2,583	2,372	2,502	1,704	1,617	1,763	746	689	644	134	66
Regulatory costs1)	331	303	111	244	161	99	92	142	8	-5	0
Operating expenses	2,914	2,675	2,613	1,947	1,778	1,861	838	831	652	129	66
Gross result	1,255	1,764	1,673	1,062	1,269	1,073	405	490	722	-212	5
Addition to loan loss provisions	208	428	469	258	174	324	-50	254	145	-0	-0
Result before tax	1,046	1,337	1,204	804	1,096	749	454	236	577	-212	5
Taxation	304	428	389	243	304	222	110	90	161	-49	34
Non-controlling interests	15	28	27	7	24	23	8	5	4	-	-0	-
Net result	727	880	788	554	767	503	335	141	412	-162	-29	-127
Key figures
Interest margin	1.41%	1.57%	1.38%
Cost/income ratio	69.9%	60.3%	61.0%	64.7%	58.3%	63.4%	67.4%	62.9%	47.4%	n.a.	n.a.	n.a.
Return on equity based on IFRS-EU equity	5.6%	6.8%	6.0%
Return on equity based on 12.5% CET1 2)	7.7%	9.0%	8.2%	11.1%	14.9%	10.3%	7.6%	3.1%	8.8%	-203.1%	-35.4%	-154.8%
Risk costs in bps of average customer lending	14	28	30	24	16	30	-12	56	33	n.a.	n.a.	n.a.
Risk-weighted assets (end of period)	306,324	326,414	312,307	160,045	168,918	163,099	143,775	155,072	146,596	2,503	2,425	2,612
Employees (internal FTEs, end of period)	57,034	54,514	56,492	42,699	40,808	42,407	14,328	13,701	14,078	7	5	7
Four-quarter rolling average key figures
Interest margin	1.44%	1.54%	1.48%
Cost/income ratio	63.2%	56.6%	60.9%	61.8%	57.1%	60.2%	59.6%	55.4%	58.7%	n.a.	n.a.	n.a.
Return on equity based on IFRS-EU equity	4.8%	9.4%	5.1%
Return on equity based on 12.5% CET1 2)	6.4%	12.3%	6.7%	11.2%	16.5%	12.2%	2.8%	7.4%	1.7%	-95.3%	22.8%	-53.8%

3Q2020

15

2

0

-39 -22

95

5 100 -122 -0 -122 5

• 1) Regulatory costs comprise bank taxes and contributions to the deposit guarantee schemes ('DGS') and the (European) single resolution fund ('SRF').

• 2) After-tax return divided by average equity based on 12.5% of RWA (annualised).

ING 1.2 Profit or loss: 4Q2020 Segment split

Profit or loss 4Q2020

In € million

Balance sheet related interest

Capital charge on book equity

Interest benefit on total capital

Net interest income

Net fee and commission income

Investment income

Realised gains and fair value changes on investments Total investment income

Valuation result and net trading income

Other income

Total other income Total income

Expenses excl. regulatory costs Regulatory costs1)

Operating expenses Gross result

Addition to loan loss provisions Result before tax

Taxation Non-controlling interests Net result

Key figures Interest margin Cost/income ratio

Return on equity based on IFRS-EU equity Return on equity based on 12.5% CET1 2) Risk costs in bps of average customer lending Risk-weighted assets (end of period) Employees (internal FTEs, end of period)

Four-quarter rolling average key figures Interest margin

Cost/income ratio

Return on equity based on IFRS-EU equity Return on equity based on 12.5% CET1 2)

• 1) Regulatory costs comprise bank taxes and contributions to the deposit guarantee schemes ('DGS') and the (European) single resolution fund ('SRF').

• 2) After-tax return divided by average equity based on 12.5% of RWA (annualised).

ING 1.3 Profit or loss: Quarterly overview

Profit or loss

In € million	4Q2020	3Q2020	2Q2020	1Q2020	4Q2019	3Q2019	2Q2019	1Q2019	FY2020	FY2019
Interest income	5,262	5,377	5,723	6,335	6,749	7,330	7,186	7,189	22,698	28,454
Minus: interest expense	1,918	2,048	2,294	2,834	3,152	3,801	3,716	3,706	9,094	14,376
Net interest income	3,344	3,329	3,430	3,501	3,597	3,529	3,470	3,483	13,604	14,079
Net fee and commission income	771	734	723	783	735	747	711	675	3,011	2,868
Investment income	3	98	4	1	10	99	3	122	106	234
Realised gains and fair value changes on investments	3	5	15	20	17	5	22	28	44	72
Total investment income	6	103	19	21	26	104	25	150	150	306
Valuation result and net trading income	85	311	437	-1	32	175	330	218	832	754
Other income	-37	-191	62	206	49	71	129	50	41	300
Total other income	48	120	499	205	81	246	459	268	872	1,054
Total income	4,169	4,286	4,671	4,511	4,439	4,626	4,665	4,576	17,637	18,306
Staff expenses	1,461	1,429	1,458	1,465	1,482	1,462	1,437	1,374	5,812	5,755
Regulatory costs1)	331	111	137	526	303	106	97	515	1,105	1,021
Other expenses	1,123	1,073	1,198	842	890	872	917	898	4,236	3,577
Operating expenses	2,914	2,613	2,793	2,833	2,675	2,440	2,451	2,787	11,153	10,353
Gross result	1,255	1,673	1,878	1,678	1,764	2,187	2,214	1,789	6,484	7,954
Addition to loan loss provisions	208	469	1,336	661	428	276	209	207	2,675	1,120
Result before tax	1,046	1,204	542	1,017	1,337	1,911	2,005	1,582	3,809	6,834
Taxation	304	389	224	329	428	543	540	443	1,246	1,955
Non-controlling interests	15	27	19	17	28	23	26	21	78	99
Net result	727	788	299	670	880	1,344	1,438	1,119	2,485	4,781
Key figures
Interest margin	1.41%	1.38%	1.44%	1.51%	1.57%	1.54%	1.52%	1.55%	1.44%	1.54%
Cost/income ratio	69.9%	61.0%	59.8%	62.8%	60.3%	52.7%	52.5%	60.9%	63.2%	56.6%
Return on equity based on IFRS-EU equity	5.6%	6.0%	2.3%	5.1%	6.8%	10.5%	11.4%	9.0%	4.8%	9.4%
Return on equity based on 12.5% CET1 2)	7.7%	8.2%	3.1%	6.6%	9.0%	13.7%	14.9%	11.6%	6.4%	12.3%
Risk costs in bps of average customer lending	14	30	85	42	28	18	14	14	43	18
Risk-weighted assets (end of period)	306,324	312,307	322,234	335,375	326,414	319,683	318,253	311,884	306,324	326,414
Employees (internal FTEs, end of period)	57,034	56,492	55,772	55,452	54,514	53,981	53,525	52,658	57,034	54,514
Four-quarter rolling average key figures
interest margin	1.44%	1.48%	1.52%	1.54%	1.54%	1.54%	1.54%	1.54%
Cost/income ratio	63.2%	60.9%	58.9%	57.0%	56.6%	55.7%	59.0%	59.0%
Return on equity based on IFRS-EU equity	4.8%	5.1%	6.1%	8.4%	9.4%	10.4%	9.4%	9.5%
Return on equity based on 12.5% CET1 2)	6.4%	6.7%	8.1%	11.0%	12.3%	13.4%	12.0%	11.9%

• 1) Regulatory costs comprise bank taxes and contributions to the deposit guarantee schemes ('DGS') and the (European) single resolution fund ('SRF').

• 2) After-tax return divided by average equity based on 12.5% of RWA (annualised).

ING 1.4 Profit or loss: Retail Banking

Profit or loss Retail Banking

In € million	4Q2020	3Q2020	2Q2020	1Q2020	4Q2019	3Q2019	2Q2019	1Q2019	FY2020	FY2019
Balance sheet related interest	2,412	2,436	2,472	2,526	2,542	2,578	2,543	2,520	9,846	10,182
Capital charge on book equity	-15	-19	-32	-55	-63	-73	-84	-87	-121	-307
Interest benefit on total capital	-22	-12	-7	-11	-17	-22	-20	-3	-52	-62
Net interest income	2,376	2,405	2,433	2,461	2,462	2,483	2,440	2,429	9,674	9,814
Net fee and commission income	516	479	460	487	432	454	438	415	1,943	1,739
Investment income	1	97	4	1	7	101	1	0	103	109
Realised gains and fair value changes on investments	3	4	13	17	17	3	18	23	36	62
Total investment income	4	102	16	18	25	105	19	23	139	171
Valuation result and net trading income	78	126	148	76	93	111	221	136	427	562
Other income	36	-178	63	119	35	32	55	33	40	155
Total other income	114	-52	210	195	128	143	276	169	467	717
Total income	3,009	2,934	3,119	3,160	3,047	3,183	3,174	3,036	12,223	12,440
Expenses excl. regulatory costs	1,704	1,763	1,635	1,597	1,617	1,629	1,600	1,537	6,698	6,383
Regulatory costs	244	99	116	396	161	94	89	383	854	726
Operating expenses	1,947	1,861	1,751	1,992	1,778	1,723	1,689	1,920	7,552	7,109
Gross result	1,062	1,073	1,368	1,168	1,269	1,460	1,485	1,116	4,670	5,331
Addition to loan loss provisions	258	324	454	285	174	160	118	136	1,322	588
Result before tax	804	749	913	883	1,096	1,301	1,367	980	3,348	4,744
Taxation	243	222	305	239	304	345	400	262	1,010	1,312
Non-controlling interests	7	23	14	14	24	22	22	17	58	85
Net result	554	503	594	630	767	933	946	701	2,281	3,347
Key figures
Cost/income ratio	64.7%	63.4%	56.2%	63.0%	58.3%	54.1%	53.2%	63.2%	61.8%	57.1%
Return on equity based on 12.5% CET1 1)	11.1%	10.3%	11.5%	12.0%	14.9%	17.9%	18.8%	14.3%	11.2%	16.5%
Risk costs in bps of average customer lending	24	30	42	26	16	15	11	13	30	14
Risk-weighted assets (end of period)	160,045	163,099	164,061	174,557	168,918	171,506	169,096	160,374	160,045	168,918
Employees (internal FTEs, end of period)	42,699	42,407	41,928	41,771	40,808	40,470	40,245	39,720	42,699	40,808
Four-quarter rolling average key figures
Cost/income ratio	61.8%	60.2%	57.9%	57.2%	57.1%	56.8%	55.9%	55.8%
Return on equity based on 12.5% CET1 1)	11.2%	12.2%	14.1%	15.9%	16.5%	16.9%	17.6%	17.9%

1) After-tax return divided by average equity based on 12.5% of RWA (annualised).

ING 1.5 Profit or loss: Retail Banking Benelux

Profit or loss Retail Banking Benelux

In € million	4Q2020	3Q2020	2Q2020	1Q2020	4Q2019	3Q2019	2Q2019	1Q2019	FY2020	FY2019
Balance sheet related interest	1,324	1,332	1,355	1,375	1,387	1,408	1,382	1,375	5,384	5,552
Capital charge on book equity	-4	-5	-6	-13	-11	-13	-22	-23	-29	-69
Interest benefit on total capital	-12	-7	-4	-6	-10	-13	-11	-2	-29	-35
Net interest income	1,307	1,320	1,344	1,356	1,366	1,383	1,349	1,350	5,327	5,448
Net fee and commission income	281	273	262	277	256	274	262	256	1,094	1,048
Investment income	-1	1	0	1	5	6	-1	0	1	10
Realised gains and fair value changes on investments	2	2	9	16	3	-3	11	8	29	19
Total investment income	1	3	9	17	8	3	10	8	31	29
Valuation result and net trading income	40	82	107	10	41	53	168	76	239	338
Other income	26	26	29	74	29	15	25	16	155	84
Total other income	66	108	136	83	70	67	193	92	393	422
Total income	1,655	1,704	1,751	1,734	1,701	1,727	1,814	1,705	6,844	6,947
Expenses excl. regulatory costs	893	863	888	851	877	876	859	824	3,495	3,436
Regulatory costs	135	25	42	276	76	22	23	262	478	383
Operating expenses	1,029	888	930	1,127	953	898	882	1,086	3,973	3,819
Gross result	627	816	821	607	748	829	932	619	2,871	3,128
Addition to loan loss provisions	66	184	276	145	99	87	38	52	671	277
Result before tax	561	632	545	462	648	742	894	567	2,200	2,851
Taxation	140	163	152	119	165	199	255	131	574	750
Non-controlling interests	0	-0	-0	-0	-0	-0	0	0	-1	-0
Net result	421	470	393	343	484	543	638	435	1,627	2,101
Key figures
Cost/income ratio	62.1%	52.1%	53.1%	65.0%	56.0%	52.0%	48.6%	63.7%	58.1%	55.0%
Return on equity based on 12.5% CET1 1)	15.9%	17.2%	13.8%	11.8%	16.7%	18.5%	22.7%	16.0%	14.6%	18.5%
Risk costs in bps of average customer lending	11	29	44	23	16	14	6	8	27	11
Risk-weighted assets (end of period)	82,535	86,760	87,671	94,665	90,821	94,636	93,013	87,072	82,535	90,821
Employees (internal FTEs, end of period)	17,594	17,651	17,533	17,726	17,642	17,471	17,381	17,225	17,594	17,642
Four-quarter rolling average key figures
Cost/income ratio	58.1%	56.6%	56.5%	55.3%	55.0%	54.8%	54.0%	53.9%
Return on equity based on 12.5% CET1 1)	14.6%	14.9%	15.2%	17.4%	18.5%	18.9%	20.1%	20.7%

1) After-tax return divided by average equity based on 12.5% of RWA (annualised).

ING 1.6 Profit or loss: Retail Banking Netherlands

Profit or loss Retail Banking Netherlands

In € million	4Q2020
Balance sheet related interest	881
Capital charge on book equity	2
Interest benefit on total capital	-6
Net interest income	877
Net fee and commission income	175
Investment income	0
Realised gains and fair value changes on investments	1	2
Total investment income	2	2
Valuation result and net trading income	16	48
Other income	13	24
Total other income	29	72
Total income	1,083	1,119
Expenses excl. regulatory costs	507	507
Regulatory costs	110	25
Operating expenses	616	532
Gross result	466	587
Addition to loan loss provisions	-29	47
Result before tax	495	540
Taxation	124	136
Non-controlling interests	0	-0
Net result	371	404
Key figures
Cost/income ratio	56.9%	47.5%
Return on equity based on 12.5% CET1 1)	27.2%	28.6%
Risk costs in bps of average customer lending	-7	12
Risk-weighted assets (end of period)	42,068	45,225
Employees (internal FTEs, end of period)	9,963	9,833
Four-quarter rolling average key figures
Cost/income ratio	50.0%	48.7%
Return on equity based on 12.5% CET1 1)	26.6%	25.9%

1) After-tax return divided by average equity based on 12.5% of RWA (annualised).

3Q2020	2Q2020	1Q2020	4Q2019	3Q2019	2Q2019
873	884	882	909	900	876
2	1	1	3	2	-3
-3	-2	-3	-6	-7	-6
871	883	880	906	895	866
174	164	168	167	178	164
-	-0	0	-0	1	0
10	1	3	-0	6	1
10	1	3	1	6	1
60	50	46	34	103	54
14	40	14	3	19	7
73	90	59	37	122	61
1,130	1,139	1,135	1,110	1,158	1,102
487	480	517	508	509	486
35	86	66	24	28	72
522	566	583	532	537	558
609	573	552	578	621	544
120	19	15	43	22	11
489	554	537	535	599	533
124	138	132	139	157	130
-0	-0	-0	-0	0	0
365	416	405	396	442	403
46.2%	49.7%	51.3%	47.9%	46.4%	50.6%
24.4%	26.2%	24.6%	23.8%	28.4%	27.0%
30	5	4	11	5	3
45,149	50,385	50,970	54,120	52,308	47,386
9,728	9,755	9,532	9,424	9,289	9,137
48.8%	48.8%	49.1%	49.2%	48.0%	47.0%
24.8%	25.7%	25.9%	26.0%	28.5%	29.9%

1Q2019	FY2020	FY2019
873	3,520	3,558
1	7	3
-1	-15	-20
874	3,511	3,541
166	681	674
-	0	1
14	10
14	11
174	236
91	43
265	279
4,471	4,505
1,981	2,020
255	190
2,236	2,210
2,235	2,295
157	91
2,078	2,204
523	558
-1	-0
1,556	1,646
50.0%	49.1%
26.6%	25.9%
10	6
42,068	50,970
9,963	9,532

ING 1.7 Profit or loss: Retail Banking Belgium

In € million	4Q2020	3Q2020	2Q2020	1Q2020	4Q2019	3Q2019	2Q2019	1Q2019	FY2020	FY2019
Balance sheet related interest	443	458	471	493	478	508	506	501	1,865	1,993
Capital charge on book equity	-7	-7	-8	-14	-14	-15	-18	-24	-35	-71
Interest benefit on total capital	-6	-3	-2	-3	-4	-5	-5	-1	-14	-15
Net interest income	430	448	461	476	460	488	483	476	1,816	1,907
Net fee and commission income	106	99	98	110	89	96	98	90	413	374
Investment income	-1	1	1	1	5	5	-2	0	1	8
Realised gains and fair value changes on investments	1	0	-1	15	1	-2	5	6	15	10
Total investment income	-0	1	-0	16	6	2	3	6	16	18
Valuation result and net trading income	24	34	47	-41	-4	19	66	22	65	102
Other income	13	3	15	33	15	12	6	8	64	41
Total other income	36	37	62	-7	11	31	72	31	129	143
Total income	572	585	621	595	565	617	656	603	2,373	2,442
Expenses excl. regulatory costs	387	356	401	370	360	367	350	338	1,514	1,416
Regulatory costs	25	0	8	190	10	-2	-5	190	223	193
Operating expenses	412	356	408	560	370	366	345	528	1,737	1,609
Gross result	160	229	212	34	195	252	311	75	636	833
Addition to loan loss provisions	95	137	156	126	84	44	16	42	514	186
Result before tax	66	92	56	-92	111	207	295	33	122	647
Taxation	16	27	28	-20	32	60	99	1	51	192
Non-controlling interests	0	0	0	0	0	0	0	0	0	0
Net result	50	65	28	-73	79	147	197	32	71	455
Key figures
Cost/income ratio	72.0%	60.8%	65.8%	94.2%	65.5%	59.2%	52.6%	87.6%	73.2%	65.9%
Return on equity based on 12.5% CET1 2)	3.9%	5.0%	2.1%	-5.5%	6.3%	11.6%	15.7%	2.6%	1.3%	9.1%
Risk costs in bps of average customer lending	42	60	68	55	37	20	7	19	57	21
Risk-weighted assets (end of period)	40,467	41,535	42,522	44,280	39,851	40,516	40,705	39,686	40,467	39,851
Employees (internal FTEs, end of period)	7,631	7,818	7,805	7,971	8,110	8,047	8,092	8,088	7,631	8,110
Four-quarter rolling average key figures
Cost/income ratio	73.2%	71.6%	71.1%	67.4%	65.9%	65.2%	65.4%	67.5%
Return on equity based on 12.5% CET1 2)	1.3%	1.9%	3.5%	6.9%	9.1%	9.9%	9.5%	8.7%
1) Including ING Luxembourg.

2) After-tax return divided by average equity based on 12.5% of RWA (annualised).

ING 1.8 Profit or loss: Retail Banking Challengers & Growth Markets

Profit or loss Retail Banking Challengers & Growth Markets

In € million	4Q2020	3Q2020	2Q2020	1Q2020	4Q2019	3Q2019	2Q2019	1Q2019	FY2020	FY2019
Balance sheet related interest	1,089	1,104	1,117	1,152	1,155	1,170	1,161	1,145	4,462	4,631
Capital charge on book equity	-10	-14	-25	-42	-51	-60	-62	-64	-92	-238
Interest benefit on total capital	-10	-5	-3	-5	-7	-9	-8	-1	-23	-26
Net interest income	1,069	1,085	1,089	1,105	1,096	1,100	1,091	1,079	4,347	4,366
Net fee and commission income	235	206	198	210	176	180	176	159	849	691
Investment income	2	97	3	0	2	95	2	-0	101	100
Realised gains and fair value changes on investments	1	2	4	1	14	6	7	15	7	43
Total investment income	2	99	7	1	16	101	10	15	108	142
Valuation result and net trading income	38	44	41	66	52	58	53	60	189	223
Other income	10	-204	34	45	6	17	30	17	-115	71
Total other income	48	-160	74	111	58	75	83	78	74	294
Total income	1,354	1,230	1,368	1,426	1,346	1,456	1,360	1,331	5,378	5,494
Expenses excl. regulatory costs	810	899	748	746	740	753	741	713	3,203	2,947
Regulatory costs	109	74	74	120	85	72	66	121	376	343
Operating expenses	919	973	821	866	824	825	806	834	3,579	3,290
Gross result	435	256	547	561	522	631	554	497	1,799	2,204
Addition to loan loss provisions	193	140	178	140	75	73	80	84	651	311
Result before tax	243	116	369	421	447	559	473	414	1,148	1,893
Taxation	102	60	153	121	140	147	145	131	436	562
Non-controlling interests	7	24	15	14	24	22	22	17	59	85
Net result	134	33	201	286	283	390	307	266	654	1,246
Key figures
Cost/income ratio	67.9%	79.2%	60.0%	60.7%	61.2%	56.7%	59.3%	62.6%	66.6%	59.9%
Return on equity based on 12.5% CET1 1)	5.8%	2.4%	8.8%	12.2%	12.7%	17.2%	14.1%	12.3%	7.3%	14.1%
Risk costs in bps of average customer lending	41	30	39	30	16	16	18	19	35	17
Risk-weighted assets (end of period)	77,510	76,339	76,390	79,892	78,097	76,869	76,083	73,302	77,510	78,097
Employees (internal FTEs, end of period)	25,105	24,756	24,395	24,045	23,166	22,999	22,864	22,496	25,105	23,166
Four-quarter rolling average key figures
Cost/income ratio	66.6%	64.9%	59.6%	59.4%	59.9%	59.2%	58.4%	58.4%
Return on equity based on 12.5% CET1 1)	7.3%	9.1%	12.7%	14.0%	14.1%	14.4%	14.6%	14.4%

1) After-tax return divided by average equity based on 12.5% of RWA (annualised).

ING 1.9 Profit or loss: Retail Banking Germany

In € million	4Q2020	3Q2020	2Q2020	1Q2020	4Q2019	3Q2019	2Q2019	1Q2019	FY2020	FY2019
Balance sheet related interest	385	388	398	389	374	399	400	383	1,560	1,557
Capital charge on book equity	10	10	9	8	8	7	8	8	37	32
Interest benefit on total capital	-4	-2	-1	-2	-3	-4	-3	-0	-9	-10
Net interest income	391	395	405	396	380	403	405	391	1,587	1,579
Net fee and commission income	125	97	109	106	70	74	68	55	437	268
Investment income	2	2	1	0	1	-0	1	-0	5	2
Realised gains and fair value changes on investments	-0	1	-1	-0	14	4	5	11	-0	34
Total investment income	1	3	0	0	15	4	6	11	4	36
Valuation result and net trading income	14	18	25	17	25	24	25	37	73	111
Other income	-3	1	3	14	-20	4	3	3	15	-9
Total other income	11	19	28	31	5	28	28	41	89	102
Total income	528	515	542	533	471	509	507	498	2,117	1,985
Expenses excl. regulatory costs	250	253	253	255	235	234	267	243	1,012	979
Regulatory costs	22	19	19	40	17	15	16	52	99	101
Operating expenses	272	272	272	295	252	249	283	296	1,110	1,080
Gross result	256	243	270	238	219	260	223	203	1,007	904
Addition to loan loss provisions	17	26	8	6	-23	-7	-25	2	57	-53
Result before tax	239	217	262	232	241	268	248	201	950	957
Taxation	85	58	122	66	89	86	81	71	331	328
Non-controlling interests	1	1	1	1	1	1	1	1	4	3
Net result	153	158	139	165	151	181	166	129	615	627
Key figures
Cost/income ratio	51.5%	52.8%	50.2%	55.4%	53.5%	49.0%	55.9%	59.3%	52.4%	54.4%
Return on equity based on 12.5% CET1 2)	16.7%	17.6%	15.7%	19.4%	18.5%	21.9%	20.5%	16.3%	17.3%	19.3%
Risk costs in bps of average customer lending	7	12	4	3	-10	-3	-12	1	6	-6
Risk-weighted assets (end of period)	29,459	29,469	28,537	28,489	26,144	26,476	26,690	25,365	29,459	26,144
Employees (internal FTEs, end of period)	5,750	5,602	5,411	5,258	5,051	4,933	4,957	4,861	5,750	5,051
Four-quarter rolling average key figures
Cost/income ratio	52.4%	52.9%	52.0%	53.5%	54.4%	53.6%	53.6%	52.6%
Return on equity based on 12.5% CET1 2)	17.3%	17.7%	18.8%	20.1%	19.3%	20.8%	20.5%	20.1%
1) Including ING Austria.

2) After-tax return divided by average equity based on 12.5% of RWA (annualised).

ING 1.10 Profit or loss: Retail Banking Other Challengers & Growth Markets

Profit or loss Retail Banking Other Challengers & Growth Markets1)

In € million	4Q2020	3Q2020	2Q2020	1Q2020	4Q2019	3Q2019	2Q2019	1Q2019	FY2020	FY2019
Balance sheet related interest	704	716	719	763	780	770	762	761	2,902	3,074
Capital charge on book equity	-21	-24	-34	-51	-60	-68	-70	-72	-129	-270
Interest benefit on total capital	-6	-3	-2	-3	-5	-6	-5	-1	-14	-16
Net interest income	678	690	683	709	716	697	686	688	2,760	2,787
Net fee and commission income	110	109	89	103	105	106	108	104	412	423
Investment income	0	95	2	-0	1	95	2	0	97	98
Realised gains and fair value changes on investments	1	1	5	1	0	2	2	4	7	9
Total investment income	1	96	7	1	1	97	4	4	104	106
Valuation result and net trading income	24	26	16	49	27	34	27	23	115	112
Other income	14	-205	31	31	26	13	27	14	-130	80
Total other income	37	-179	47	80	53	47	55	37	-15	192
Total income	826	715	826	894	875	947	853	833	3,261	3,509
Expenses excl. regulatory costs	560	647	494	491	505	519	474	470	2,191	1,968
Regulatory costs	87	55	55	80	67	56	49	69	278	242
Operating expenses	647	702	549	571	572	576	523	538	2,469	2,210
Gross result	179	13	277	323	303	371	330	295	792	1,299
Addition to loan loss provisions	176	114	170	134	97	80	105	82	593	364
Result before tax	3	-100	107	189	206	291	225	213	199	935
Taxation	17	2	31	54	50	61	63	59	105	234
Non-controlling interests	6	23	14	13	23	21	21	17	55	82
Net result	-19	-125	62	121	132	209	141	137	39	619
Key figures
Cost/income ratio	78.3%	98.1%	66.5%	63.9%	65.4%	60.8%	61.3%	64.6%	75.7%	63.0%
Return on equity based on 12.5% CET1 2)	-0.9%	-6.9%	4.9%	8.3%	9.7%	14.7%	10.6%	10.2%	1.5%	11.3%
Risk costs in bps of average customer lending	72	47	71	55	40	34	45	35	61	38
Risk-weighted assets (end of period)	48,051	46,870	47,853	51,403	51,953	50,394	49,393	47,937	48,051	51,953
Employees (internal FTEs, end of period)	19,354	19,154	18,984	18,786	18,115	18,066	17,907	17,635	19,354	18,115
Four-quarter rolling average key figures
Cost/income ratio	75.7%	72.3%	64.0%	62.8%	63.0%	62.5%	61.2%	61.8%
Return on equity based on 12.5% CET1 2)	1.4%	3.9%	8.7%	10.0%	10.5%	10.3%	10.7%	10.6%

• 1) Includes: Australia, Czech Republic, France, Italy, Spain, Poland, Romania, Turkey, Philippines, Asian stakes and Other.

• 2) After-tax return divided by average equity based on 12.5% of RWA (annualised).

ING 1.11 Profit or loss: Wholesale Banking

Profit or loss Wholesale Banking

In € million	4Q2020	3Q2020	2Q2020	1Q2020	4Q2019	3Q2019	2Q2019	1Q2019	FY2020	FY2019
Balance sheet related interest	974	931	953	988	1,087	1,012	983	996	3,846	4,077
Capital charge on book equity	-9	-10	-20	-41	-47	-55	-64	-62	-80	-228
Interest benefit on total capital	-20	-11	-7	-10	-15	-20	-18	-3	-48	-55
Net interest income	945	909	927	937	1,025	938	901	930	3,718	3,794
Net fee and commission income	255	253	264	297	303	294	276	262	1,069	1,135
Investment income	2	0	0	1	-4	-1	2	3	3	-0
Realised gains and fair value changes on investments	1	1	3	3	-1	2	4	5	8	10
Total investment income	3	2	3	4	-5	1	6	8	10	9
Valuation result and net trading income	43	217	314	-24	-2	109	129	99	550	334
Other income	-3	-7	1	56	-0	18	-0	8	48	25
Total other income	40	210	315	33	-2	127	128	106	598	359
Total income	1,242	1,374	1,509	1,270	1,322	1,359	1,311	1,307	5,396	5,298
Expenses excl. regulatory costs	746	644	909	669	689	657	655	640	2,967	2,640
Regulatory costs	92	8	20	130	142	11	11	132	250	296
Operating expenses	838	652	929	799	831	668	666	771	3,218	2,937
Gross result	405	722	580	471	490	692	644	536	2,178	2,362
Addition to loan loss provisions	-50	145	882	373	254	116	91	71	1,351	532
Result before tax	454	577	-302	98	236	576	553	465	827	1,830
Taxation	110	161	-10	33	90	164	61	148	295	464
Non-controlling interests	8	4	4	4	5	1	5	3	20	14
Net result	335	412	-296	61	141	410	487	313	512	1,352
Key figures
Cost/income ratio	67.4%	47.4%	61.6%	62.9%	62.9%	49.1%	50.8%	59.0%	59.6%	55.4%
Return on equity based on 12.5% CET1 1)	7.6%	8.8%	-6.0%	1.3%	3.1%	9.0%	10.7%	6.8%	2.8%	7.4%
Risk costs in bps of average customer lending	-12	33	186	80	56	25	20	16	75	29
Risk-weighted assets (end of period)	143,775	146,596	155,536	158,168	155,072	145,419	146,046	148,508	143,775	155,072
Employees (internal FTEs, end of period)	14,328	14,078	13,838	13,676	13,701	13,509	13,277	12,935	14,328	13,701
Value at Risk trading positions (average)	25.1	29.8	39.2	21.6	11.4	4.7	9.3	8.0
Four-quarter rolling average key figures
Cost/income ratio	59.6%	58.7%	59.1%	56.3%	55.4%	53.8%	52.8%	51.8%
Return on equity based on 12.5% CET1 1)	2.8%	1.7%	1.7%	5.9%	7.4%	8.9%	9.3%	9.2%

1) After-tax return divided by average equity based on 12.5% of RWA (annualised).

ING 1.12 Profit or loss: WB - Lending

Profit or loss Wholesale Banking - Lending

In € million	4Q2020	1Q2020
Balance sheet related interest	630	629
Capital charge on book equity	-0	0
Interest benefit on total capital	-13	-6
Net interest income	618	622
Net fee and commission income	104	131
Investment income	-	-
Realised gains and fair value changes on investments	-	-
Total investment income	-	0	-	0	0	0	0	0
Valuation result and net trading income	-17	4	34	-94	-47	-12	-14	-9	-73	-82
Other income	4	2	6	6	12	1	4	-0	19	17
Total other income	-12	7	40	-88	-35	-11	-10	-9	-54	-65
Total income	709	747	777	665	774	744	736	741	2,898	2,995
Expenses excl. regulatory costs	215	220	222	230	236	219	215	221	887	892
Regulatory costs	41	0	6	45	69	-0	1	48	93	119
Operating expenses	256	220	228	275	306	219	217	269	979	1,010
Gross result	454	526	549	390	468	525	519	472	1,919	1,984
Addition to loan loss provisions	-56	146	833	306	131	129	71	57	1,228	387
Result before tax	510	381	-284	84	337	396	448	416	691	1,597
Taxation	118	120	-63	35	93	116	128	135	211	472
Non-controlling interests	5	2	1	2	3	-0	3	3	11	9
Net result	386	258	-222	47	241	280	317	278	469	1,116
Key figures
Cost/income ratio	36.1%	29.5%	29.3%	41.4%	39.5%	29.5%	29.4%	36.3%	33.8%	33.7%
Return on equity based on 12.5% CET1 1)	13.6%	8.6%	-7.1%	1.6%	8.0%	9.6%	10.9%	9.4%	4.0%	9.5%
Risk costs in bps of average customer lending	-17	41	223	84	37	36	20	16	86	27
Risk-weighted assets (end of period)	89,368	94,421	99,208	99,200	101,910	93,424	93,358	94,956	89,368	101,910
Four-quarter rolling average key figures
Cost/income ratio	33.8%	34.7%	34.7%	34.8%	33.7%	30.9%	30.0%	30.0%
Return on equity based on 12.5% CET1 1)	4.0%	2.7%	2.9%	7.4%	9.5%	11.1%	12.1%	12.4%

3Q2020

618 122 - - -625 645

2Q2020

0 -0

-7 -4

641 97 0 -

4Q2019	3Q2019	2Q2019	1Q2019	FY2020	FY2019
687	646	640	641	2,529	2,614
-1	-0	-0	-0	-0	-2
-9	-12	-12	-2	-30	-35
677	633	628	639	2,499	2,577
132	121	118	112	453	482
0	0	0	-	0	0
-
-

-

-

-

-1) After-tax return divided by average equity based on 12.5% of RWA (annualised).

ING 1.13 Profit or loss: WB - Daily Banking & Trade Finance

Profit or loss Wholesale Banking - Daily Banking & Trade Finance

In € million
Balance sheet related interest
Capital charge on book equity
Interest benefit on total capital
Net interest income
Net fee and commission income
Investment income
Realised gains and fair value changes on investments
Total investment income	0
Valuation result and net trading income	11
Other income	-3
Total other income	7
Total income	299
Expenses excl. regulatory costs	208
Regulatory costs	15
Operating expenses	222
Gross result	77
Addition to loan loss provisions	3
Result before tax	74
Taxation	19
Non-controlling interests	1
Net result	54
Key figures
Cost/income ratio	74.3%
Return on equity based on 12.5% CET1 1)	8.2%
Risk costs in bps of average customer lending	4
Risk-weighted assets (end of period)	22,665
Four-quarter rolling average key figures
Cost/income ratio	69.6%
Return on equity based on 12.5% CET1 1)	6.4%

4Q2020	3Q2020
164	152
1	1
-3	-2
161	152
130	106
0	-
-
-	-0	0	-0	1	0	0	0	1
12	14	11	15	19	15	12	48	61
-3	-5	-2	-4	-2	-1	-1	-14	-8
9	9	9	11	17	14	12	34	53
267	276	314	339	335	340	326	1,156	1,340
186	187	182	177	169	172	161	762	679
0	3	25	19	3	1	30	43	54
186	190	207	196	172	173	192	805	733
81	87	108	143	163	167	134	352	607
-4	46	62	112	-5	5	18	106	131
85	41	46	31	167	162	116	246	476
22	9	17	10	41	41	30	66	122
1	1	2	2	1	1	1	5	5
62	31	28	19	125	120	84	175	349
69.8%	68.6%	65.7%	57.9%	51.4%	50.8%	58.8%	69.6%	54.7%
9.5%	4.6%	3.9%	2.8%	16.6%	15.8%	11.2%	6.4%	11.6%
-6	62	79	142	-6	6	23	37	41
20,956	21,677	22,668	25,236	23,396	25,315	23,575	22,665	25,236
65.1%	60.5%	56.3%	54.7%	51.9%	52.2%	51.5%
5.1%	7.0%	9.8%	11.6%	15.2%	13.6%	13.5%

-

2Q2020	1Q2020	4Q2019	3Q2019	2Q2019	1Q2019	FY2020	FY2019
151	182	193	195	197	189	649	774
1	1	1	1	0	-0	3	1
-1	-2	-2	-3	-3	-0	-7	-9
151	181	191	192	194	188	645	766
117	124	137	126	131	126	478	520
-0	0	-0	1	0	0	0	1

-

-

-

-

-

-

-1) After-tax return divided by average equity based on 12.5% of RWA (annualised).

ING 1.14 Profit or loss: WB - Financial Markets

In € million
Balance sheet related interest
Capital charge on book equity
Interest benefit on total capital
Net interest income
Net fee and commission income
Investment income
Realised gains and fair value changes on investments
Total investment income	-0
Valuation result and net trading income	74
Other income	-9
Total other income	65
Total income	181
Expenses excl. regulatory costs	175
Regulatory costs	26
Operating expenses	201
Gross result	-20
Addition to loan loss provisions	0
Result before tax	-20
Taxation	-5
Non-controlling interests	2
Net result	-18
Key figures
Cost/income ratio	111.0%
Return on equity based on 12.5% CET1 1)	-2.0%
Risk costs in bps of average customer lending	3
Risk-weighted assets (end of period)	24,837
Four-quarter rolling average key figures
Cost/income ratio	77.5%
Return on equity based on 12.5% CET1 1)	5.3%

1) After-tax return divided by average equity based on 12.5% of RWA (annualised).

Return on equity of ING's total Financial Markets activities, including Retail Banking

4Q2020	3Q2020	3Q2019	2Q2019
110	97	125	111
-8	-9	-29	-30
-3	-2	-2	-3
98	86	94	79
19	26	46	11
-0	-0	0	-0
0	1	1
0	-0	0	-3	1	1	0
191	281	23	24	95	104	84
-6	-9	-9	-10	-3	-11	-0
184	272	14	15	92	93	84
297	406	154	147	232	183	196
183	185	194	206	198	200	196
1	3	38	42	1	2	35
184	188	232	248	199	202	231
113	218	-78	-101	33	-19	-35
2	1	-0	0	-0	1	-2
111	217	-78	-101	33	-20	-33
33	63	-22	-29	12	-5	-8
1	3	2	1	1	1	1
77	151	-58	-73	20	-16	-26
61.8%	46.3%	150.8%	168.5%	85.7%	110.4%	117.8%
9.9%	19.6%	-8.3%	-12.0%	3.6%	-2.4%	-3.9%
64	29	-2	6	-0	20	-54
24,402	26,139	24,159	18,744	19,351	17,913	21,012
84.8%	92.3%	123.0%	116.0%	112.2%	116.7%	109.5%
3.7%	1.8%	-4.9%	-3.7%	-3.1%	-3.8%	-2.4%
2Q2020	1Q2020	4Q2019	3Q2019	2Q2019	1Q2019
21.2%	-4.6%	-7.1%	6.2%	1.4%	-1.2%
4.9%	-1.2%	-0.2%	0.3%	-0.2%	1.1%

3Q2020

Key figures

Return on equity based on 12.5% CET1 1)

Four-quarter rolling average key figures Return on equity based on 12.5% CET1 1)

12.5%

1Q2019	FY2020	FY2019
122	437	505
-29	-53	-114
-0	-8	-7
92	377	384
20	125	94
0	-0	-3
0	1
0	-2
569	307
-33	-24
535	283
1,038	758
737	800
68	80
804	880
233	-122
4	-1
230	-121
69	-30
8	5
152	-96
77.5%	116.0%
5.3%	-3.7%
22	-5
24,837	18,744
FY2020	FY2019
8.0%	-0.2%

6.7%

ING 1.15 Profit or loss: WB - Treasury & Other

Profit or loss Wholesale Banking - Treasury & Other

In € million	4Q2020	3Q2020	2Q2020	1Q2020	4Q2019	3Q2019	2Q2019	1Q2019	FY2020	FY2019
Balance sheet related interest	70	56	53	51	60	47	34	44	231	185
Capital charge on book equity	-1	-2	-8	-19	-21	-26	-33	-33	-30	-114
Interest benefit on total capital	-1	-1	-1	-1	-1	-1	-1	-0	-3	-4
Net interest income	68	53	45	32	38	19	-0	11	198	68
Net fee and commission income	1	-1	8	5	18	1	16	4	13	39
Investment income	2	0	0	0	-1	-2	2	3	3	2
Realised gains and fair value changes on investments	1	1	3	3	-1	1	3	5	7	8
Total investment income	2	1	3	4	-2	-0	5	8	10	10
Valuation result and net trading income	-25	10	-15	36	6	7	24	11	6	48
Other income	6	-0	9	62	1	22	8	9	76	40
Total other income	-19	10	-5	98	7	29	32	21	83	89
Total income	53	64	50	138	61	49	52	44	304	206
Expenses excl. regulatory costs	148	55	316	63	69	70	68	61	582	269
Regulatory costs	10	6	8	23	12	7	7	18	47	44
Operating expenses	158	62	324	86	81	78	75	79	629	313
Gross result	-106	2	-274	52	-20	-29	-23	-36	-326	-108
Addition to loan loss provisions	4	1	2	6	11	-8	14	-2	13	15
Result before tax	-110	1	-276	46	-31	-21	-37	-34	-339	-123
Taxation	-22	-13	-19	3	16	-5	-103	-8	-51	-100
Non-controlling interests	-1	-1	-1	-2	-2	-1	-1	-2	-4	-5
Net result	-88	15	-256	44	-46	-15	66	-23	-284	-18
Key figures
Cost/income ratio	301.2%	96.9%	n.a.	62.3%	132.6%	159.6%	144.7%	181.1%	207.2%	152.3%
Return on equity based on 12.5% CET1 1)	-41.1%	6.0%	-79.5%	12.8%	-16.4%	-5.4%	22.8%	-8.7%	-25.9%	-2.0%
Risk costs in bps of average customer lending	32	7	9	29	82	-58	102	-14	19	28
Risk-weighted assets (end of period)	6,906	6,818	8,512	12,142	9,182	9,249	9,461	8,965	6,906	9,182
Four-quarter rolling average key figures
Cost/income ratio	207.2%	176.7%	191.0%	106.7%	152.3%	480.1%	243.1%	194.6%
Return on equity based on 12.5% CET1 1)	-25.9%	-20.9%	-22.4%	3.8%	-2.0%	-5.6%	-3.4%	-9.1%

1) After-tax return divided by average equity based on 12.5% of RWA (annualised).

ING 1.16 Profit or loss: Corporate Line

Profit or loss Corporate Line

In € million

Balance sheet related interest

Capital charge on book equity

Interest benefit on total capital

Net interest income

Net fee and commission income

Investment income

Realised gains and fair value changes on investments Total investment income

Valuation result and net trading income

Other income

Total other income Total income

Expenses excl. regulatory costs Regulatory costs

Operating expenses Gross result

Addition to loan loss provisions Result before tax

Risk-weighted assets (end of period)

Taxation Non-controlling interests Net result

Key figures

Employees (internal FTEs, end of period)

-35 -33

4Q2020	3Q2020	2Q2020
-42	-38	5
23	30	51
42	23	14
24	15	70
-0	2	-2
0	0	0
-0
0
-25
-2
-26
42
111
1
112
-70
0
-70
-71
-

1Q2020	4Q2019
-13	-32
96	110
20	32
103	109
-1	-0
0	7
0	0
0	7	-1
-53	-60	-45
31	15	22
-22	-45	-23
80	71	84
42	66	49
-0	0	1
42	66	49
39	5	35
3	-0	-0
36	5	35
57	34	34
-	-0	-0	-0
-127	1	-20	-29	1
2,612	2,637	2,650	2,425	2,758
7	5	5	5	2

3Q2019	2Q2019	1Q2019	FY2019
-61	-56	-32	-181
128	147	150	535
42	38	6	117
108	129	123	470
0	-3	-2	-6
-1	0	119	125
0	-0	-
0	119	1	125
-19	-18	-146	-142
74	10	-47	120
54	-8	-193	-22
180	233	18	568
98	96	383	309
-2	-0	0	-2
96	96	383	307
84	137	-364	261
0	-0	2	-0
84	137	-367	261
79	32	-58	179
-0	-0	-0	-0
5	105	-308	82
3,111	3,002	2,503	2,425
2	2	7	5

FY2020

-0

-71 -6

-39 -22

134 95

-5 5

-88

200

100

212

-1

1

-

-

100 -122 -0 -122 5

ING 1.17 Geographical split: 4Q2020

Geographical split 4Q2020

Wholesale Banking

Netherlands	Belgium	Germany
Retail	Wholesale	Retail	Wholesale	Retail	Wholesale
In € million	Total	Banking	Banking	Total	Banking	Banking	Total	Banking	Banking	Total	Banking
Profit or loss
Net interest income	1,047	877	170	503	430	73	512	391	121	448	342
Net fee and commission income	239	175	64	149	106	43	136	125	11	72	50
Investment income	2	2	0	-0	-0	0	1	1	-0	0	0
Other income	25	29	-4	40	36	4	17	11	7	7	-1
Total income	1,312	1,083	230	693	572	120	666	528	138	527	391
Expenses excl. regulatory costs	780	507	273	455	387	68	287	250	36	370	326
Regulatory costs	130	110	20	35	25	10	23	22	1	44	43
Operating expenses	909	616	293	490	412	78	310	272	38	414	368
Gross result	403	466	-63	202	160	42	357	256	100	113	23
Addition to loan loss provisions	-27	-29	2	121	95	26	7	17	-10	43	18
Result before tax	430	495	-65	81	66	16	350	239	110	70	5
Retail Banking	495	495	66	66	239	239	5	5
Wholesale Banking	-65	-65	16	16	110	110	66
Corporate Line
Result before tax	430	495	-65	81	66	16	350	239	110	70	5
Customer lending/deposits (in € billion)
Residential mortgages	110.8	110.2	0.5	38.7	38.6	0.1	80.3	80.2	0.1	59.1	59.1
Other customer lending	72.0	46.6	25.4	64.8	51.0	13.8	41.9	11.1	30.8	32.0	10.2
Customer deposits	199.0	165.2	33.7	108.9	93.5	15.4	145.6	144.3	1.3	100.4	98.4
Key figures
Cost/income ratio	69.3%	56.9%	127.5%	70.8%	72.0%	65.0%	46.5%	51.5%	27.2%	78.5%	94.2%
Return on equity based on 12.5% CET1 2)	14.2%	27.2%	-5.5%	3.5%	3.9%	2.2%	16.4%	16.7%	15.8%	3.8%	0.1%
Risk costs in bps of average customer lending	-6	-7	3	46	42	74	2	7	-12	19	10
Risk-weighted assets (end of period)	71,383	42,068	29,315	54,014	40,467	13,546	45,852	29,459	16,393	35,649	18,718
Employees (internal FTEs, end of period)	17,095	9,963	7,132	8,750	7,631	1,119	6,183	5,750	432	6,110	5,519
Four-quarter rolling average key figures
Cost/income ratio	60.2%	50.0%	102.3%	70.4%	73.2%	57.5%	47.3%	52.4%	28.2%	75.1%	88.7%
Return on equity based on 12.5% CET1 2)	13.5%	26.6%	-8.0%	2.6%	1.3%	6.3%	13.1%	17.3%	6.5%	2.9%	-1.6%

Other Challengers
Retail	Wholesale
Banking	Total	Banking
106	383	335
22	76	61
0	1	1
8	70	38
136	530	435
44	265	234
1	53	45
46	318	279
91	212	157
25	141	158
66	71	-1
-1	-1
66	72
66	71	-1
0.0	13.1	13.0
21.9	24.9	16.7
2.0	46.6	42.7
33.5%	60.0%	64.0%
7.9%	3.3%	-1.6%
46	149	213
16,932	38,361	29,334
591	15,181	13,835
35.1%	61.2%	63.9%
7.9%	5.0%	3.4%

Growth Markets
Retail	Wholesale	Corporate
Banking	Total	Banking	Total	Line
48	427	427	24	24
15	100	100	-0	-0
0	0	0	2	0
32	-9	-9	-103	-106
95	518	518	-77	-83
31	291	291	135	134
9	51	51	-5	-5
40	343	343	130	129
55	175	175	-207	-212
-17	-77	-77	-0	-0
72	251	251	-207	4	-212
72	251	251	4	4
-212	-212
72	251	251	-207	4	-212
0.1	0.0	0.0	0.0	0.0	0.0
8.2	65.8	65.8	0.4	0.0	0.4
3.9	9.2	9.2	0.0	0.0	0.0
41.7%	66.3%	66.3%	n.a.	14.5%	n.a.
19.1%	10.7%	10.7%	-192.2%	117.2%	-203.1%
-80	-46	-46	-4	n.a.	-4
9,028	58,473	58,473	2,592	89	2,503
1,346	3,703	3,703	12	5	7
49.1%	55.0%	55.0%	n.a.	n.a.	n.a.
9.9%	3.3%	3.3%	-91.8%	3.8%	-53.8%

Wholesale

Rest of World

Other1)

Wholesale

Banking

0 -0 2 3 5 1 0 1 4

-

• 1) Region Other consists of Corporate Line and Real Estate run-off portfolio.

• 2) After-tax return divided by average equity based on 12.5% of RWA (annualised).

ING 1.18 Geographical split: Comparable quarters

Geographical split comparable quarters

Total	Netherlands	Belgium
In € million	4Q2020	4Q2019	4Q2020	4Q2019	4Q2020
Profit or loss
Net interest income	3,344	3,597	1,047	1,095	503
Net fee and commission income	771	735	239	249	149
Investment income	6	26	2	3	-0
Other income	48	81	25	4	40
Total income	4,169	4,439	1,312	1,351	693
Expenses excl. regulatory costs	2,583	2,372	780	707	455
Regulatory costs	331	303	130	98	35
Operating expenses	2,914	2,675	909	805	490
Gross result	1,255	1,764	403	546	202
Addition to loan loss provisions	208	428	-27	49	121
Result before tax	1,046	1,337	430	496	81
Retail Banking	804	1,096	495	537	66
Wholesale Banking	454	236	-65	-41	16
Corporate Line	-212	5	-	-	-	-
Result before tax	1,046	1,337	430	496	81	115
Taxation	304	428	108	117	22	38
Non-controlling interests	15	28	0	0	0	0
Net result	727	880	322	379	59	78
Customer lending/deposits (in € billion)
Residential mortgages	302.0	298.0	110.8	112.4	38.7	39.3
Other customer lending	301.9	318.3	72.0	75.6	64.8	67.6
Customer deposits	609.6	574.4	199.0	178.7	108.9	105.2
Key figures
Cost/income ratio	69.9%	60.3%	69.3%	59.6%	70.8%	67.6%
Return on equity based on 12.5% CET1 1)	7.7%	9.0%	14.2%	15.2%	3.5%	4.6%
Risk costs in bps of average customer lending	14	28	-6	10	46	40
Risk-weighted assets (end of period)	306,324	326,414	71,383	78,334	54,014	54,427
Employees (internal FTEs, end of period)	57,034	54,514	17,095	15,926	8,750	9,345
Four-quarter rolling average key figures
Cost/income ratio	63.2%	56.6%	60.2%	56.2%	70.4%	64.2%
Return on equity based on 12.5% CET1 1)	6.4%	12.3%	13.5%	17.0%	2.6%	8.2%

Germany
4Q2019	4Q2020	4Q2019	4Q2020	4Q2019	4Q2020	4Q2019	4Q2020	4Q2019
565	512	523	448	473	383	410	427	424
132	136	88	72	71	76	73	100	121
7	1	13	0	0	1	-1	0	-3
-15	17	7	7	7	70	84	-9	39
687	666	632	527	552	530	567	518	581
428	287	275	370	300	265	287	291	308
37	23	24	44	32	53	58	51	54
465	310	299	414	332	318	345	343	362
222	357	333	113	220	212	222	175	219
107	7	-10	43	45	141	69	-77	167
115	350	342	70	175	71	152	251	52
111	239	241	5	88	-1	117	-	-
4	110	101	66	87	72	35	251	52	4	-2
-	-	-	-	-	-	-	-	-212	5
350	342	70	175	71	152	251	52	-207	3
112	120	28	60	31	37	50	24	-48	32
1	1	-	-	14	27	-	-	-	-0
237	221	42	115	25	88	201	28	-159	-29
80.3	76.1	59.1	58.1	13.1	12.1	0.0	0.0	0.0	0.0
41.9	44.3	32.0	32.6	24.9	27.7	65.8	70.2	0.4	0.4
145.6	139.5	100.4	95.3	46.6	43.7	9.2	12.0	-0.0	0.0
46.5%	47.3%	78.5%	60.2%	60.0%	60.9%	66.3%	62.3%	n.a.	95.9%
16.4%	15.7%	3.8%	10.3%	3.3%	8.6%	10.7%	1.5%	-192.2%	-34.0%
2	-3	19	20	149	71	-46	95	-4	-2
45,852	46,126	35,649	36,078	38,361	43,896	58,473	65,017	2,592	2,536
6,183	5,440	6,110	5,486	15,181	14,564	3,703	3,744	12	9
47.3%	47.5%	75.1%	62.5%	61.2%	54.7%	55.0%	54.6%	n.a.	n.a.
13.1%	16.9%	2.9%	9.3%	5.0%	12.0%	3.3%	8.1%	-91.8%	22.7%

Other Challengers

Growth Markets

Wholesale Banking
Rest of World	Other
4Q2020	4Q2019
24	108
-0	-0
2	7
-103	-45
-77	69
135	66
-5	0
130	66
-207	3
-0	-0
-207	3
-

-

1) After-tax return divided by average equity based on 12.5% of RWA (annualised).

ING 1.19 Geographical split: Netherlands

Geographical split Netherlands

In € million	4Q2020	3Q2020	2Q2020	1Q2020	4Q2019	3Q2019	2Q2019	1Q2019	FY2020	FY2019
Profit or loss
Net interest income	1,047	1,034	1,041	1,056	1,095	1,057	1,026	1,035	4,178	4,213
Net fee and commission income	239	249	238	255	249	258	243	244	981	994
Investment income	2	3	12	2	3	2	9	3	18	17
Other income	25	171	178	6	4	20	78	0	379	102
Total income	1,312	1,457	1,470	1,319	1,351	1,337	1,356	1,282	5,557	5,325
Expenses excl. regulatory costs	780	677	925	650	707	692	686	640	3,032	2,725
Regulatory costs	130	25	40	121	98	26	30	116	316	270
Operating expenses	909	702	965	771	805	717	716	756	3,347	2,994
Gross result	403	755	505	548	546	619	640	526	2,210	2,331
Addition to loan loss provisions	-27	129	256	64	49	19	55	23	421	146
Result before tax	430	626	248	484	496	601	585	503	1,788	2,185
Retail Banking	495	540	489	554	537	535	599	533	2,078	2,204
Wholesale Banking	-65	86	-240	-70	-41	66	-14	-31	-290	-19
Corporate Line	-	-
Result before tax	430	626	248	484	496	601	585	503	1,788	2,185
Customer lending/deposits (in € billion)
Residential mortgages	110.8	111.4	111.9	112.2	112.4	113.2	113.0	112.7	110.8	112.4
Other customer lending	72.0	73.5	79.3	77.7	75.6	77.2	76.2	76.1	72.0	75.6
Customer deposits	199.0	197.7	196.4	188.1	178.7	176.4	176.3	170.8	199.0	178.7
Key figures
Cost/income ratio	69.3%	48.2%	65.7%	58.5%	59.6%	53.7%	52.8%	59.0%	60.2%	56.2%
Return on equity based on 12.5% CET1 1)	14.2%	20.3%	4.5%	15.2%	15.2%	17.5%	18.7%	16.8%	13.5%	17.0%
Risk costs in bps of average customer lending	-6	27	54	14	10	4	12	5	22	8
Risk-weighted assets (end of period)	71,383	73,582	73,763	78,807	78,334	81,602	79,115	71,353	71,383	78,334
Employees (internal FTEs, end of period)	17,095	16,675	16,351	16,217	15,926	15,601	15,272	14,834	17,095	15,926
Four-quarter rolling average key figures
Cost/income ratio	60.2%	58.0%	59.5%	56.1%	56.2%	55.2%	53.2%	51.1%
Return on equity based on 12.5% CET1 1)	13.5%	13.8%	13.2%	16.6%	17.0%	17.9%	20.1%	22.5%

1) After-tax return divided by average equity based on 12.5% of RWA (annualised).

ING 1.20 Geographical split: Belgium

In € million	4Q2020	3Q2020	2Q2020	1Q2020	4Q2019	3Q2019	2Q2019	1Q2019	FY2020	FY2019
Profit or loss
Net interest income	503	523	534	556	565	556	561	551	2,116	2,233
Net fee and commission income	149	132	154	149	132	132	141	129	583	533
Investment income	-0	1	-0	18	7	1	6	10	19	23
Other income	40	56	83	-3	-15	64	103	59	177	210
Total income	693	712	770	720	687	753	810	748	2,896	2,999
Expenses excl. regulatory costs	455	421	464	441	428	437	414	409	1,781	1,687
Regulatory costs	35	-0	10	211	37	-2	-4	207	256	238
Operating expenses	490	421	474	652	465	436	409	615	2,037	1,925
Gross result	202	291	296	68	222	317	401	133	858	1,073
Addition to loan loss provisions	121	130	194	144	107	62	22	77	589	268
Result before tax	81	161	102	-76	115	255	379	56	269	805
Retail Banking	66	92	56	-92	111	207	295	33	122	647
Wholesale Banking	16	69	45	16	4	48	84	22	147	158
Corporate Line	-	-
Result before tax	81	161	102	-76	115	255	379	56	269	805
Customer lending/deposits (in € billion)
Residential mortgages	38.7	38.7	39.0	39.1	39.3	39.4	38.8	38.5	38.7	39.3
Other customer lending	64.8	66.5	68.2	70.8	67.6	66.5	68.0	67.8	64.8	67.6
Customer deposits	108.9	108.3	111.3	109.9	105.2	110.5	105.1	104.0	108.9	105.2
Key figures
Cost/income ratio	70.8%	59.1%	61.6%	90.5%	67.6%	57.9%	50.5%	82.2%	70.4%	64.2%
Return on equity based on 12.5% CET1 2)	3.5%	6.9%	3.6%	-3.6%	4.6%	10.5%	15.4%	2.5%	2.6%	8.2%
Risk costs in bps of average customer lending	46	49	72	53	40	23	8	29	55	25
Risk-weighted assets (end of period)	54,014	54,807	56,232	58,547	54,427	53,894	54,193	54,225	54,014	54,427
Employees (internal FTEs, end of period)	8,750	8,936	8,920	9,105	9,345	9,279	9,309	9,324	8,750	9,345
Four-quarter rolling average key figures
Cost/income ratio	70.4%	69.6%	69.2%	66.0%	64.2%	61.5%	61.5%	63.7%
Return on equity based on 12.5% CET1 2)	2.6%	2.8%	3.7%	6.6%	8.2%	10.4%	10.3%	9.5%
1) Including ING Luxembourg.

2) After-tax return divided by average equity based on 12.5% of RWA (annualised).

ING 1.21 Geographical split: Germany

In € million	4Q2020	3Q2020	2Q2020	1Q2020	4Q2019	3Q2019	2Q2019	1Q2019	FY2020	FY2019
Profit or loss
Net interest income	512	519	534	525	523	538	535	525	2,090	2,122
Net fee and commission income	136	104	118	110	88	85	77	65	468	315
Investment income	1	3	-0	0	13	5	7	13	4	38
Other income	17	25	39	41	7	36	36	53	122	131
Total income	666	651	691	676	632	664	654	656	2,684	2,606
Expenses excl. regulatory costs	287	290	294	296	275	269	305	277	1,167	1,126
Regulatory costs	23	19	19	43	24	15	16	56	104	111
Operating expenses	310	309	313	339	299	284	321	333	1,270	1,237
Gross result	357	342	378	337	333	380	333	323	1,414	1,369
Addition to loan loss provisions	7	19	228	13	-10	2	-14	-18	267	-40
Result before tax	350	323	150	324	342	377	347	341	1,146	1,409
Retail Banking	239	217	262	232	241	268	248	201	950	957
Wholesale Banking	110	106	-112	92	101	110	99	141	197	451
Corporate Line	-	-
Result before tax	350	323	150	324	342	377	347	341	1,146	1,409
Customer lending/deposits (in € billion)
Residential mortgages	80.3	78.8	77.5	76.4	76.1	75.8	74.7	73.9	80.3	76.1
Other customer lending	41.9	43.7	44.8	45.1	44.3	46.1	46.9	45.5	41.9	44.3
Customer deposits	145.6	142.9	141.0	138.4	139.5	138.1	138.0	138.2	145.6	139.5
Key figures
Cost/income ratio	46.5%	47.5%	45.3%	50.1%	47.3%	42.8%	49.1%	50.7%	47.3%	47.5%
Return on equity based on 12.5% CET1 2)	16.4%	15.3%	5.5%	15.4%	15.7%	18.3%	17.2%	16.4%	13.1%	16.9%
Risk costs in bps of average customer lending	2	6	75	4	-3	1	-5	-6	22	-3
Risk-weighted assets (end of period)	45,852	47,009	46,640	47,017	46,126	44,335	44,917	42,622	45,852	46,126
Employees (internal FTEs, end of period)	6,183	6,031	5,839	5,677	5,440	5,307	5,331	5,226	6,183	5,440
Four-quarter rolling average key figures
Cost/income ratio	47.3%	47.5%	46.4%	47.3%	47.5%	46.7%	46.7%	45.8%
Return on equity based on 12.5% CET1 2)	13.1%	12.9%	13.6%	16.6%	16.9%	18.2%	18.2%	17.8%
1) Including ING Austria.

2) After-tax return divided by average equity based on 12.5% of RWA (annualised).

ING 1.22 Geographical split: Other Challengers

In € million	4Q2020	3Q2020	2Q2020	1Q2020	4Q2019	3Q2019	2Q2019	1Q2019	FY2020	FY2019
Profit or loss
Net interest income	448	439	444	449	473	449	444	441	1,781	1,808
Net fee and commission income	72	68	66	70	71	70	73	68	276	283
Investment income	0	0	0	0	0	0	-1	1	1	-0
Other income	7	6	-8	21	7	3	12	-6	27	17
Total income	527	514	502	541	552	523	527	505	2,084	2,107
Expenses excl. regulatory costs	370	464	315	308	300	326	297	296	1,458	1,218
Regulatory costs	44	19	20	26	32	22	20	26	108	100
Operating expenses	414	483	336	334	332	348	317	321	1,566	1,318
Gross result	113	31	167	207	220	176	211	183	518	790
Addition to loan loss provisions	43	43	137	75	45	35	48	44	298	171
Result before tax	70	-12	29	132	175	141	163	139	220	618
Retail Banking	5	-105	10	64	88	55	91	72	-27	307
Wholesale Banking	66	93	20	68	87	86	71	67	247	311
Corporate Line	-	-
Result before tax	70	-12	29	132	175	141	163	139	220	618
Customer lending/deposits (in € billion)
Residential mortgages	59.1	57.6	57.7	54.8	58.1	56.9	55.5	56.2	59.1	58.1
Other customer lending	32.0	32.7	33.9	32.9	32.6	33.1	32.6	31.4	32.0	32.6
Customer deposits	100.4	98.7	98.0	92.5	95.3	94.9	96.0	95.6	100.4	95.3
Key figures
Cost/income ratio	78.5%	94.0%	66.8%	61.7%	60.2%	66.4%	60.1%	63.7%	75.1%	62.5%
Return on equity based on 12.5% CET1 2)	3.8%	-1.8%	1.6%	7.9%	10.3%	8.6%	10.2%	8.2%	2.9%	9.3%
Risk costs in bps of average customer lending	19	19	61	34	20	16	22	20	33	19
Risk-weighted assets (end of period)	35,649	34,765	35,038	34,976	36,078	35,544	35,561	34,855	35,649	36,078
Employees (internal FTEs, end of period)	6,110	6,115	5,990	5,817	5,486	5,375	5,219	5,058	6,110	5,486
Four-quarter rolling average key figures
Cost/income ratio	75.1%	70.4%	63.7%	62.0%	62.5%	67.2%	65.7%	66.3%
Return on equity based on 12.5% CET1 2)	2.9%	4.6%	7.1%	9.3%	9.3%	6.9%	7.2%	7.2%
1) Including Australia, Czech Republic, France, Italy, Spain and Portugal, Other.

2) After-tax return divided by average equity based on 12.5% of RWA (annualised).

ING 1.23 Geographical split: Growth Markets

In € million	4Q2020
Profit or loss
Net interest income	383
Net fee and commission income	76
Investment income	1
Other income	70
Total income	530
Expenses excl. regulatory costs	265
Regulatory costs	53
Operating expenses	318
Gross result	212
Addition to loan loss provisions	141
Result before tax	71
Retail Banking	-1
Wholesale Banking	72
Corporate Line
Result before tax	71
Customer lending/deposits (in € billion)
Residential mortgages	13.1
Other customer lending	24.9
Customer deposits	46.6
Key figures
Cost/income ratio	60.0%
Return on equity based on 12.5% CET1 2)	3.3%
Risk costs in bps of average customer lending	149
Risk-weighted assets (end of period)	38,361
Employees (internal FTEs, end of period)	15,181
Four-quarter rolling average key figures
Cost/income ratio	61.2%
Return on equity based on 12.5% CET1 2)	5.0%
1) Including Poland, Romania, Turkey, Philippines, Asian stakes.

In € million Result before tax

3Q2020	2Q2020	1Q2020	4Q2019	3Q2019	2Q2019	1Q2019	FY2020	FY2019
396	389	410	410	400	391	409	1,578	1,610
78	62	69	73	75	82	74	286	304
96	7	0	-1	97	4	4	104	104
-155	95	100	84	73	77	82	111	316
415	553	579	567	644	554	569	2,078	2,334
267	259	271	287	275	261	256	1,062	1,079
42	42	72	58	41	36	63	210	198
309	301	343	345	316	297	319	1,272	1,277
106	252	237	222	328	257	250	807	1,057
66	118	87	69	72	70	60	412	271
40	134	150	152	256	186	191	395	785
5	97	125	117	236	134	141	225	628
35	37	26	35	20	53	49	169	157
-	-
40	134	150	152	256	186	191	395	785
12.6	12.6	12.0	12.1	11.2	10.9	10.4	13.1	12.1
25.2	26.0	27.2	27.7	27.3	27.4	27.3	24.9	27.7
46.9	47.1	43.9	43.7	41.4	40.8	39.3	46.6	43.7
74.5%	54.4%	59.1%	60.9%	49.0%	53.7%	56.1%	61.2%	54.7%
0.2%	7.7%	8.1%	8.7%	17.0%	11.4%	11.5%	5.0%	12.1%
69	122	88	71	75	74	64	107	71
37,811	39,810	43,955	43,896	40,965	41,180	40,038	38,361	43,896
14,984	14,928	14,910	14,564	14,634	14,639	14,520	15,181	14,564
61.4%	55.7%	55.5%	54.7%	52.9%	51.7%	51.8%
6.3%	10.3%	11.2%	12.1%	12.5%	12.6%	12.4%
2) After-tax return divided by average equity based on 12.5% of RWA (annualised).
Geographical split Growth Markets - Asian stakes
3Q2020	2Q2020	1Q2020	4Q2019	3Q2019	2Q2019	1Q2019	FY2020	FY2019
-121	25	9	9	93	7	9	-80	118
6,580	7,546	7,342	8,269	6,622	6,928	7,373	7,161	8,269

Risk-weighted assets (end of period)

4Q2020 6 7,161

Market value3) - Asian stakes

Bank of Beijing (13.0%)

In € million

TMB (23.0%)

Total valuation

3) Value of ING's stake, Bloomberg end of quarter data and FX rates.

ING 1.24 Geographical split: Wholesale Banking Rest of World

Geographical split Wholesale Banking Rest of World

In € million	4Q2020	3Q2020	2Q2020	1Q2020	4Q2019	3Q2019	2Q2019	1Q2019	FY2020	FY2019
Profit or loss
Net interest income	427	403	418	405	424	422	386	401	1,654	1,633
Net fee and commission income	100	101	86	131	121	127	99	98	418	446
Investment income	0	0	0	0	-3	1	1	0	0	-2
Other income	-9	55	136	61	39	72	98	84	242	293
Total income	518	560	640	597	581	622	584	583	2,315	2,370
Expenses excl. regulatory costs	291	285	286	300	308	288	292	299	1,162	1,187
Regulatory costs	51	2	5	53	54	3	1	48	111	106
Operating expenses	343	286	290	353	362	291	294	346	1,273	1,293
Gross result	175	273	350	244	219	331	290	237	1,042	1,077
Addition to loan loss provisions	-77	83	402	276	167	86	29	21	684	303
Result before tax	251	191	-52	-32	52	245	262	216	357	774
Retail Banking	-	-
Wholesale Banking	251	191	-52	-32	52	245	262	216	357	774
Corporate Line	-	-
Result before tax	251	191	-52	-32	52	245	262	216	357	774
Customer lending/deposits (in € billion)
Residential mortgages	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Other customer lending	65.8	66.6	71.4	82.9	70.2	70.2	70.7	70.2	65.8	70.2
Customer deposits	9.2	11.1	12.0	13.5	12.0	12.9	14.9	13.4	9.2	12.0
Key figures
Cost/income ratio	66.3%	51.2%	45.4%	59.2%	62.3%	46.8%	50.3%	59.4%	55.0%	54.6%
Return on equity based on 12.5% CET1 1)	10.7%	7.2%	-2.3%	-1.2%	1.4%	9.2%	14.1%	7.5%	3.3%	8.0%
Risk costs in bps of average customer lending	-46	48	209	144	95	49	16	12	95	43
Risk-weighted assets (end of period)	58,473	61,630	68,024	69,331	65,017	60,475	60,047	65,638	58,473	65,017
Employees (internal FTEs, end of period)	3,703	3,739	3,733	3,716	3,744	3,779	3,748	3,689	3,703	3,744
Four-quarter rolling average key figures
Cost/income ratio	55.0%	54.3%	53.1%	54.5%	54.6%	53.4%	53.8%	53.8%
Return on equity based on 12.5% CET1 1)	3.3%	1.2%	1.6%	5.7%	8.0%	9.9%	10.1%	8.8%

1) After-tax return divided by average equity based on 12.5% of RWA (annualised).

ING 1.25 Geographical split: Other

In € million	4Q2020	3Q2020	2Q2020	1Q2020	4Q2019	3Q2019	2Q2019	1Q2019	FY2020	FY2019
Profit or loss
Net interest income	24	14	69	101	108	106	126	121	208	461
Net fee and commission income	-0	2	-2	-1	-0	-0	-3	-3	-1	-7
Investment income	2	0	0	0	7	-1	0	120	2	126
Other income	-103	-39	-24	-21	-45	-21	56	-5	-186	-14
Total income	-77	-23	44	79	69	84	179	233	23	566
Expenses excl. regulatory costs	135	97	112	42	66	48	99	97	387	310
Regulatory costs	-5	5	1	0	0	1	-2	-0	0	-2
Operating expenses	130	102	113	42	66	48	97	97	387	308
Gross result	-207	-125	-69	37	3	35	83	137	-365	258
Addition to loan loss provisions	-0	-0	0	3	-0	-0	0	-0	2	-0
Result before tax	-207	-125	-69	34	3	35	83	137	-367	258
Retail Banking	-	-
Wholesale Banking	4	-3	0	-2	-2	1	-1	-0
Corporate Line	-212	-122	-70	36	5	35	84	137
Result before tax	-207	-125	-69	34	3	35	83	137
Customer lending/deposits (in € billion)
Residential mortgages	0.0	-0.0	-0.0	-0.0	0.0	0.0	0.0	0.0
Other customer lending	0.4	0.4	0.4	0.4	0.4	0.4	0.4	0.4
Customer deposits	-0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Key figures
Cost/income ratio	n.a.	n.a.	n.a.	n.a.	n.a.	n.a.	n.a.	n.a.
Return on equity based on 12.5% CET1 2)	-192.2%	-146.3%	-3.5%	-26.6%	-34.0%	7.8%	-3.2%	115.1%
Risk costs in bps of average customer lending	-4	-10	11	196	-2	-4	7	-5
Risk-weighted assets (end of period)	2,592	2,704	2,726	2,741	2,536	2,868	3,241	3,154
Employees (internal FTEs, end of period)	12	12	10	9	9	6	6	6
Four-quarter rolling average key figures
Cost/income ratio	n.a.	n.a.	n.a.	n.a.	n.a.	n.a.	n.a.	n.a.
Return on equity based on 12.5% CET1 2)	-91.8%	-52.7%	-13.3%	-12.8%	22.7%	42.1%	-164.6%	-179.3%
1) Region Other consists of Corporate Line and Real Estate run-off portfolio.

2) After-tax return divided by average equity based on 12.5% of RWA (annualised).

ING 2.1 Consolidated Balance Sheet: Assets - Comparable quarters

ING Group: Assets

In € million

Cash and balances with central banks Loans and advances to banks

Financial assets at fair value through profit or loss

• - trading assets

• - non-trading derivatives

• - designated as at fair value through profit or loss

• - mandatorily at fair value through profit or loss

Financial assets at fair value OCI

• - equity securities FV OCI

• - debt securities FV OCI

• - loans and advances FV OCI Securities at amortised cost Loans and advances to customers - customer lending

- provision for loan losses

Investments in associates and joint ventures Property and equipment

Intangible assets Current tax assets Deferred tax assets Other assets Assets held for sale Total assets

ING 2.2 Consolidated Balance Sheet: Assets - Quarterly overview

ING Group: Assets

In € million

Cash and balances with central banks Loans and advances to banks

Financial assets at fair value through profit or loss

• - trading assets

• - non-trading derivatives

• - designated as at fair value through profit or loss

• - mandatorily at fair value through profit or loss

Financial assets at fair value OCI

• - equity securities FV OCI

• - debt securities FV OCI

  Intangible assets Current tax assets Deferred tax assets Other assets Assets held for sale Total assets

• - loans and advances FV OCI Securities at amortised cost Loans and advances to customers - customer lending

- provision for loan losses

Investments in associates and joint ventures Property and equipment

30 Sep 2020

30 Jun 2020

31 Mar 2020

111,081 29,019 52,592 2,752 3,890 53,137

118,971 63,819

30,664 32,998

53,781 62,071

2,488 2,415

3,700 2,793

51,142 52,264

1,817 34,248 1,180 50,526

1,998 1,980

35,650 34,102

1,345 1,525

51,085

47,534

607,599

31 Dec 2019

30 Sep 2019

30 Jun

31 Mar

2019 2019

53,202 35,136 49,254 2,257 3,076 41,600

54,936 36,205 57,641 2,534 3,058 58,751

52,171 45,631

34,584 33,877

54,212 54,697

2,397 2,543

2,944 2,757

59,376 60,855

2,306 30,483 1,680

2,191 30,944 1,841

2,551 2,697

26,776 28,512

1,967 2,160

46,108

45,371

45,970 47,227

622,738 -6,029

-6,185

631,569 -4,998

1,467

1,775 1,693

2,987

3,086 3,119

1,418

1,586 1,917

474

515 475

836

806 818

7,642

9,543 8,591

616,355 -4,590

617,346 -4,559

615,245 610,308

-4,481 -4,546

1,790

1,441

1,317 1,266

3,172

3,100

2,825 2,920

1,916

1,939

1,917 1,859

251

244

392 193

730

750

711 793

7,018

8,657

11,363 9,967

1,154 1,218

956,481

984,842

944,685

891,744

922,391

913,390

904,935

ING 2.3 Consolidated Balance Sheet: Total liabilities and equity - Comparable quarters

In € million	31 Dec 2020	30 Sep 2020	31 Dec 2020	30 Sep 2020
Deposits from banks	78,098	78,173	78,098
Customer deposits	609,642	605,620	643,138	-32,816
Financial liabilities at fair value through profit or loss
- trading liabilities	32,709	32,089	32,709
- non-trading derivatives	1,629	2,449	1,629	-3
- designated as at fair value through profit or loss	48,444	56,292	48,445	-0
Current tax liability	342	349	341
Deferred tax liabilities	584	702	584
Provisions	691	545	666	545	26	0
Other liabilities	11,609	12,667	11,605	12,628	4	40
Debt securities in issue	82,065	95,972	55,573	70,126	26,491	25,846
Subordinated loans	15,805	16,393	15,897	16,492	-92	-100
Total liabilities	881,616	901,251	888,683	908,284	-7,066	-7,033
Shareholders' equity	54,637	54,204	47,675	47,391	6,962	6,813
Non-controlling interests	1,022	1,025	1,022
Total equity	55,659	55,230	48,697	6,813
Total liabilities and equity	937,275	956,481	937,379	-220
Unaudited

ING 2.4 Consolidated Balance Sheet: Total liabilities and equity - Quarterly overview

ING Group: Total liabilities and equity

In € million Deposits from banks Customer deposits

Financial liabilities at fair value through profit or loss

• - trading liabilities

• - non-trading derivatives

• - designated as at fair value through profit or loss

Current tax liability

Deferred tax liabilities Provisions

Other liabilities

Debt securities in issue Subordinated loans Total liabilities

Shareholders' equity (in parent) Non-controlling interests

Total equity

Total liabilities and equity

30 Sep 2020

78,173 605,620

30 Jun 2020

31 Mar 2020

78,649 45,908

605,798 586,193

32,089

35,745 44,794

2,449

2,435 3,074

56,292

52,461 49,823

349

387 454

702

758 834

545

566 607

12,667

14,879 16,255

95,972

121,138 124,501

16,393 901,251 54,204 1,025 55,230 956,481

16,697 16,951

34,826 574,433

31 Dec 2019

38,173 574,246

30 Sep 2019

38,095

30 Jun 2019

31 Mar 2019 37,647

571,124 561,440

28,042

32,315

33,575 34,288

2,215

3,112

2,381 2,733

47,684

65,543

63,492 61,531

554

613

487 710

695

853

705 695

688

851

853 912

12,829

16,345

16,084 15,661

118,528

119,921

118,929 120,626

16,588

16,007

14,205 15,069

929,515 54,305 1,022 55,327 984,842

889,395 54,334 956 55,290 944,685

837,082 53,769 893 54,662 891,744

867,981 53,512 899 54,410 922,391

859,930 851,312

52,598 52,788

862 53,460 913,390

835 53,623 904,935

ING 2.5 Total Equity: Comparable quarters

ING Group: Total equity

Remeasurement of the net defined benefit asset/liability Currency translation reserve

In € million Share capital Share premium

Revaluation reserve equity securities Revaluation reserve debt instruments Revaluation reserve cashflow hedge Other revaluation reserve

Treasury shares

Liability credit reserve

Retained earnings and other reserves Net result year to date Shareholders' equity Non-controlling interests Total equity

Key figures

Shareholders' equity per share in €

Shares outstanding in the market (in million)

ING 2.6 Total Equity: Quarterly overview

ING Group: Total equity

Liability credit reserve

In € million Share capital Share premium

Revaluation reserve equity securities Revaluation reserve debt instruments Revaluation reserve cashflow hedge Other revaluation reserve

Remeasurement of the net defined benefit asset/liability Currency translation reserve

Treasury shares

Retained earnings and other reserves Net result year to date Shareholders' equity Non-controlling interests Total equity

Key figures

Shareholders' equity per share in €

30 Sep 2020

30 Jun 2020

31 Mar 2020

39

31 Dec 2019

30 Sep 2019

30 Jun

31 Mar

2019 2019

39

39

17,089

17,089 17,088

1,130

1,270 1,258

250

200 113

1,602

1,709 1,567

231

262 248

-291

-252 -167

-3,419

-2,729 -2,677

-9

-3 -6

-119

-103 350

35,946

35,855 35,852

1,757 54,204 1,025 55,230

969 670

39

39

39 39

17,078

17,077

17,077 17,076

1,580

1,470

1,791 1,937

299

315

332 336

1,208

1,759

1,434 1,058

253

249

233 227

-336

-420

-418 -427

-2,079

-1,815

-2,165 -2,016

-10

-5

-8 -8

-114

-88

-82 -70

31,071

31,029

31,807 33,517

4,781

3,901

2,556 1,119

54,305 1,022 55,327

54,334 956 55,290

53,769 893 54,662

53,512 899 54,410

52,598 52,788

862 835

53,460 53,623

13.90

13.92

13.93

13.80

13.74

13.50 13.56

ING 2.7 Capital position

Capital position

ING Group	ING Bank
In € million	31 Dec 2020	30 Sep 2020	31 Dec 2020	30 Sep 2020
Shareholders' equity (parent)	54,637	54,204	47,675	47,391
- Reserved profit not included in CET1 capital1)	-3,266	-2,541	-1,207	-811
- Minority interests, counting as CET1 capital	173	178	331	335
- Goodwill and intangibles deductible from CET1	-1,122	-1,605	-1,122	-1,605
- Deferred tax liabilities associated to intangible assets	25	29	25	29
- Shortfall on expected loan loss provision
- Adjustment Revaluation reserve bonds
- Adjustment Revaluation reserve equity
- Adjustment Revaluation reserve real estate
- Adjustment Revaluation reserve cash flow hedge	-1,450	-1,602	-1,450	-1,602
- Treasury shares (ING Group)	-4	-9
- Prudent Valuation adjustment	-484	-165	-484	-164
- Own credit risk	117	119	117	119
- Defined benefit remeasurement
- Defined benefit pension fund assets	-579	-626	-579	-626
- Deferred tax assets	-124	-136	-124	-136
- Own credit risk adjustments to derivatives (DVA)	-13	-19	-13	-19
- Irrevocable Payment Commitment (IPC)	-339	-339	-339	-339
- IRB Excess of provisions over expected losses eligible	110	290	110	290
- Non-Performing Exposure Prudential Backstop	-351
Regulatory adjustments	-7,303	-6,417	-4,741	-4,539
Available common equity Tier 1 capital	47,333	47,787	42,934	42,852
Subordinated loans qualifying as Tier 1 capital2), 3)	5,643	5,865	5,648	5,872
Regulatory adjustments additional Tier 1	48	48	68	67
Available Tier 1 capital	53,024	53,700	48,650	48,791
Supplementary capital - Tier 2 bonds4)	9,359	9,567	9,359	9,567
Regulatory adjustments Tier 2	-846	-898	23	20
Available BIS capital	61,537	62,369	58,032	58,378
Risk-weighted assets	306,324	312,307	306,016	312,103
Common equity Tier 1 ratio	15.5%	15.3%	14.0%	13.7%
Tier 1 ratio	17.3%	17.2%	15.9%	15.6%
Total capital ratio	20.1%	20.0%	19.0%	18.7%

• 1) Reserved profit not included in CET1 capital ING Group as per 31 December 2020 was €3,266, of which €1,512 million relates to the result of 2020 and €1,754 million relates to the result of 2019.

• 2) ING Group: Including €4,660 million which is CRR-compliant (3Q2020: €4,882 million), and €983 million to be replaced as capital recognition is subject to CRR grandfathering rules (3Q2020: €982 million).

• 3) ING Bank: Including €4,654 million which is CRR-compliant (3Q2020: €4,877 million), and €994 million to be replaced as capital recognition is subject to CRR grandfathering rules (3Q2020: €994 million).

• 4) Including €9,206 million which is CRR-compliant (3Q2020: €9,414 million), and €153 million to be replaced (by Group instruments) as capital recognition is subject to CRR grandfathering rules (3Q2020: €153 million).

ING 2.8 Funding

ING Group: Maturity ladder outstanding long-term debt 31 December 2020

Long-term debt issued

Maturing1)

In € million	2018	2019	2020	2021	2022	2023	2024	2025	2026	2027	2028	2029	2030	>2030
ING Bank senior debt2)	6,569	4,616	1,160	8,394	3,622	522	164	545	507	462	178	199	182	796
ING Bank covered bond	6,381	4,266	1,250	3,735	3,295	3,008	1,256	1,759	2,008	1,363	2,063	2,444	1,600	2,574
ING Bank RMBS	949	395	936	385
ING Group senior debt2)	11,491	6,277	2,065	3,789	4,480	1,518	2,000	3,946	1,222	3,670	2,551	1,710	345
ING Bank Tier 2	661	1,502	150
ING Group Tier 2	1,741	995	1,500	79	2,019	1,845	1,750	1,712

• 1) All bond instruments with an early redemption option are included as per their contractual maturity date.

• 2) Figures shown for issued senior bonds are only included with original tenors >= 1 year.

Note: as of 4Q2020 maturities are based on notionals, while previously maturities were based on book value. At end of 4Q2020 long term debt maturing based on notionals was €5bn lower than based on book value.

ING Group: Loan-to-deposit ratio and funding mix

31 Dec 2020	30 Sep 2020
Loan-to-deposit ratio	0.98	0.99
Key figures
Customer deposits (retail)	52%	50%
Customer deposits (corporate)	20%	20%
Repurchase agreement	6%	7%
Interbank	9%	9%
CD/CP	2%	3%
Long-term senior debt	9%	9%
Subordinated debt	2%	2%
Total 1)	100%	100%

1) Liabilities excluding trading securities and IFRS equity.

ING 2.9 Investments: Group

ING Group: Total Investments - 31 December 2020

In € billion

Total debt securities

• of which Government bonds

• of which Sub-sovereign, Supranationals and Agencies

• of which Covered bonds

• of which Financial institutions

• of which Corporate bonds

• of which asset-backed securities

Total equity securities

Total Investments

Securities at amortised cost

B/S value

50.6

50.6

26.8

14.9

6.0

2.0

0.1

0.9

Financial assets at fair value	Fair value
through other comprehensive	through profit
income (FV OCI)	or loss	Total
B/S value	B/S value	Reval after tax
4.3	87.9	0.3
0.0	49.3	0.2
2.3	24.7	0.0
7.8	0.0
1.1	3.6	0.0
0.0	0.4	0.0
0.7	2.1	0.0
1.9	1.2
4.3	89.8	1.4

B/S value

Reval after tax

33.0

0.3

22.4

0.2

7.5

0.0

1.8

0.0

0.5

0.0

0.2

0.0

0.5

0.0

1.9

1.2

34.9

1.4

Total investments contains banking book but excludes the trading book and investments indicated as assets held for sale.

ING 3.1 Customer lending/deposits: 4Q2020 Segment split

Customer lending/deposits

Residential mortgages Beginning of period Net production Treasury

In € billion

Acquisitions / divestments FX impact and other

End of period

Other customer lending Beginning of period Net production Treasury

Acquisitions / divestments FX impact and other

End of period

Customer deposits Beginning of period Net production Treasury

Acquisitions / divestments FX impact and other

End of period

Retail BeneluxRetail BankingNetherlands

Belgium

298.2

110.8 38.6

2.1

-0.5 -0.0

1.0

-0.0 -0.0

301.2

78.6 70.1

1.6 1.1

-0.0 1.0

110.2

38.6

138.6

47.7 52.3

-2.6 -0.5

-1.0 -1.3

-0.1 -0.0

0.1

135.6

46.6

51.0

537.7

165.2 92.6

8.8 -3.3

3.0 1.2

-3.0 -0.3

1.0 544.2

165.2

93.5

Retail Challengers & Growth
Markets
Wholesale	Daily Banking &	Financial	Treasury	Corporate
Banking	Lending	Trade Finance	Markets	& Other	Line
0.8	0.0	0.0	0.0	0.8	0.0
0.1	0.1
-0.0	-0.0
0.8	0.0	0.0	0.0	0.8	0.0
169.7	137.8	26.2	1.4	4.2	0.4
-0.7	-5.0	3.6	0.6	0.1
-0.1	-0.1
-3.0	-2.2	-0.7	-0.0	0.0
165.9	130.6	29.1	2.0	4.2	0.4
67.9	0.5	58.5	5.0	4.0	0.0
-0.9	0.5	0.4	-1.6	-0.2	-0.0
-1.5	-1.5
-0.1	-0.0	-0.0	-0.1	-0.0	-0.0
65.4	1.0	58.9	3.3	2.3	-0.0

144.3

Germany

Other

80.2

72.2

11.4 0.1 -0.4

27.2 -0.3 -0.0

0.1

11.1

26.9

141.5

138.4

2.9 -0.1

1.7 0.0

1.0

141.1

ING 3.2 Customer lending/deposits: Quarterly overview

Customer lending/deposits

End of period

In € billion

Acquisitions / divestments FX impact and other

End of period

Acquisitions / divestments FX impact and other

Acquisitions / divestments FX impact and other

End of period

3Q2020

2Q2020

1Q2020

298.7

294.6 298.0

0.8

0.9 0.4

-0.5

3.3 -3.9

298.9

4Q2019

3Q2019

2Q2019 1Q2019

296.5

293.0

291.6 287.7

1.7

3.2

1.7 2.6

-0.1

0.3

-0.4 1.3

298.7

294.6

324.0

337.0 318.3

-8.0 -3.0

-8.2 11.6

-3.5 7.6

-4.3

-1.3 -0.6

308.7

298.0

296.5

293.0 291.6

320.9

322.3

318.7 309.0

0.0 -0.6

-4.4 -0.5

5.3 5.9

-0.2 2.2

-2.0

3.5

-1.5 1.7

324.0

337.0

605.8

586.2 574.4

3.4 -1.5

20.9 9.2

-4.4 8.9

-2.1 605.6

3.1 -6.3

318.3

320.9

322.3 318.7

574.2

571.1

561.4 555.8

2.5 -3.0

4.4 -1.1

11.7 4.8

-1.4 0.3

0.7

-0.2

-0.6 0.5

605.8

586.2

574.4

574.2

571.1 561.4

ING 3.3 Customer lending/deposits: Retail Banking

Customer lending/deposits Retail Banking

End of period

In € billion

Acquisitions / divestments FX impact and other

End of period

Acquisitions / divestments FX impact and other

Acquisitions / divestments FX impact and other

End of period

3Q2020

2Q2020

1Q2020

297.9

293.8 297.3

0.8

0.9 0.4

-0.5

3.2 -3.9

298.2

4Q2019

3Q2019

2Q2019 1Q2019

295.5

292.1

290.8 286.8

1.6

3.2

1.7 2.6

0.1

0.2

-0.4 1.4

297.9

293.8

141.7

141.2 139.8

0.1 -2.4

-2.6 2.2

2.8 0.6

-0.8

0.3 -1.5

138.6

297.3

295.5

292.1 290.8

139.6

140.0

137.2 132.9

0.6 -0.4

0.2 -0.5

3.1 2.0

-0.2 2.5

0.0

-0.1

-0.1 -0.2

141.7

141.2

536.0

515.9 510.9

4.4 -1.2

20.6 3.2

-3.4 7.5

-1.6 537.7

2.9 -5.6

139.8

139.6

140.0 137.2

508.3

507.6

500.5 492.7

4.4 -2.4

1.7 -0.7

8.5 5.6

-1.0 1.9

0.6

-0.3

-0.5 0.3

536.0

515.9

510.9

508.3

507.6 500.5

ING 3.4 Customer lending/deposits: Retail Banking Netherlands

Customer lending/deposits Retail Banking Netherlands

Acquisitions / divestments FX impact and other

In € billion

Acquisitions / divestments FX impact and other

End of period

End of period

Acquisitions / divestments FX impact and other

End of period

3Q2020

2Q2020

1Q2020

111.3

111.7 111.9

-0.5

-0.5 -0.5

-0.0

0.1 0.3

110.8

4Q2019

3Q2019

2Q2019 1Q2019

112.6

112.4

112.1 111.4

-0.4

-0.0

0.2 0.2

-0.3

0.2

0.1 0.5

111.3

111.7

51.3 -0.9

49.4 48.3

-0.7 0.1

-2.7

2.6 0.9

47.7

111.9

112.6

112.4 112.1

49.3 -0.5 -0.5

48.6 0.3 0.4

47.9 46.0

0.3 0.9

0.4 1.0

51.3

49.4

164.8

158.1 150.3

1.2 -0.8

9.6 1.5

-2.9 6.3

48.3

49.3

48.6 47.9

151.2

151.0

147.4 143.8

1.2 -2.2

1.0 -0.8

4.8 1.4

-1.1 2.2

165.2

164.8

158.1

150.3

151.2

151.0 147.4

ING 3.5 Customer lending/deposits: Retail Banking Belgium

Customer lending/deposits Retail Banking Belgium1)

Acquisitions / divestments FX impact and other

In € billion

Acquisitions / divestments FX impact and other

End of period

End of period

Acquisitions / divestments FX impact and other

End of period

3Q2020

2Q2020

1Q2020

39.0 -0.3

39.1 39.3

-0.1 -0.2

-0.0 38.6

0.0 0.0

39.0

39.1

51.8

53.0 52.0

0.5

-1.3 1.3

0.0

0.0 -0.3

52.3

4Q2019

3Q2019

2Q2019 1Q2019

39.3 0.0

38.7 0.5

38.4 37.9

0.2 0.4

0.0

0.0

0.1 0.1

39.3

39.3

38.7 38.4

50.9 0.7 0.3

52.2 -0.7 -0.5

51.4 49.5

1.5 0.6

-0.7 1.4

51.8

53.0

93.6 -0.5

90.9 89.7

2.9 0.5

-0.4

-0.2 0.8

52.0

50.9

52.2 51.4

90.0 -0.4 0.0

89.3 0.7 0.0

87.5 85.5

1.8 2.0

-0.0 0.0

92.6

93.6

90.9

89.7

90.0

89.3 87.5

1) Including ING Luxembourg.

ING 3.6 Customer lending/deposits: Retail Banking Germany

Customer lending/deposits Retail Banking Germany1)

Acquisitions / divestments FX impact and other

In € billion

Acquisitions / divestments FX impact and other

End of period

End of period

Acquisitions / divestments FX impact and other

End of period

3Q2020

2Q2020

1Q2020

77.4 1.3

76.3 76.0

1.0 0.3

0.0

0.0 0.0

78.6

4Q2019

3Q2019

2Q2019 1Q2019

75.6 0.5

74.6 0.9

73.8 73.5

0.8 0.2

-0.1

0.1

0.1 0.1

77.4

76.3

11.0

10.9 10.7

0.1

-0.1 0.3

0.3

0.2 -0.1

11.4

76.0

75.6

74.6 73.8

11.0 0.0 -0.3

11.0 0.3 -0.3

10.7 10.5

0.3 0.0

0.1 0.1

11.0

10.9

139.7

137.4 138.5

1.7 0.0

2.4 -1.2

-0.1 0.1

10.7

11.0

11.0 10.7

137.2

137.3

136.9 138.0

1.6 -0.2

-0.2 0.1

0.3 -0.9

0.1 -0.2

141.5

139.7

137.4

138.5

137.2

137.3 136.9

1) Including ING Austria.

ING 3.7 Customer lending/deposits: RB Other Challengers & Growth Markets

Customer lending/deposits Retail Banking Other Challengers & Growth Markets1)

In € billion	4Q2020	3Q2020	2Q2020	1Q2020	4Q2019	3Q2019	2Q2019	1Q2019
Residential mortgages
Beginning of period	70.1	70.3	66.8	70.1	68.1	66.4	66.5	64.1
Net production	1.1	0.3	0.5	0.8	1.6	1.7	0.6	1.8
Treasury
Acquisitions / divestments
FX impact and other	1.0	-0.5	3.0	-4.2	0.5	-0.0	-0.7	0.7
End of period	72.2	70.1	70.3	66.8	70.1	68.1	66.4	66.5
Other customer lending
Beginning of period	27.2	27.7	27.9	28.8	28.4	28.1	27.2	27.0
Net production	-0.3	0.3	-0.5	0.5	0.4	0.4	1.0	0.4
Treasury	-0.0	-0.0	0.0	0.0	0.0	-0.0	-0.0	-0.0
Acquisitions / divestments
FX impact and other	0.1	-0.8	0.3	-1.5	0.0	-0.1	-0.1	-0.2
End of period	26.9	27.2	27.7	27.9	28.8	28.4	28.1	27.2
Customer deposits
Beginning of period	138.4	137.9	129.5	132.5	129.9	130.0	128.8	125.4
Net production	1.7	2.0	5.8	2.3	2.0	0.2	1.7	3.1
Treasury	0.0	-0.0	-0.2	0.3	-0.0	0.0	0.1	-0.1
Acquisitions / divestments
FX impact and other	1.0	-1.6	2.9	-5.6	0.6	-0.3	-0.5	0.3
End of period	141.1	138.4	137.9	129.5	132.5	129.9	130.0	128.8

1) Includes: Australia, Czech Republic, France, Italy, Spain, Poland, Romania, Turkey, Philippines, Asian stakes and Other.

ING 3.8 Customer lending/deposits: Wholesale Banking

Customer lending/deposits Wholesale Banking

End of period

In € billion

Acquisitions / divestments FX impact and other

End of period

Acquisitions / divestments FX impact and other

Acquisitions / divestments FX impact and other

End of period

3Q2020

2Q2020

1Q2020

0.8 -0.0

0.8 0.8

0.0 -0.0

0.0

0.0 -0.0

0.8

4Q2019

3Q2019

2Q2019 1Q2019

0.9 0.0

0.8

0.8 0.9

0.0 0.0

-0.2

0.1

0.1 -0.2

0.8

0.8

181.9

195.5 178.1

-8.1 -0.6

-5.6 9.4

-6.3 7.1

-3.5 169.7

-1.6 0.9

181.9

195.5

69.8 -1.0 -0.3

70.3 63.5

0.3 6.0

-1.0 1.4

-0.5 67.9

0.2 -0.6

0.8

0.9

0.8 0.8

180.9

181.9

181.2 175.7

-0.6 -0.2

-4.6 -0.0

2.2 3.9

-0.0 -0.3

-2.0

3.6

-1.5 1.9

178.1

180.9

181.9 181.2

66.0 -1.9 -0.6

63.5 2.8 -0.5

60.9 63.1

3.1 -0.9

-0.4 -1.6

0.1

0.2

-0.1 0.2

69.8

70.3

63.5

66.0

63.5 60.9

ING 3.9 Customer lending/deposits: WB - Lending

Customer lending/deposits Wholesale Banking - Lending

End of period

Acquisitions / divestments FX impact and other

End of period

Acquisitions / divestments FX impact and other

Acquisitions / divestments FX impact and other

In € billion

End of period

3Q2020

2Q2020

1Q2020

0.0

4Q2019

3Q2019

2Q2019 1Q2019

0.0

0.0

0.0

0.0

0.0

0.0 0.0

0.0

0.0

147.0

151.8 140.1

-6.4

-3.6 11.2

-2.7

-1.2 0.5

137.8

0.0

0.0

0.0 0.0

143.6

142.3

142.5 138.6

-2.0

-1.4

1.0 2.5

-1.4

2.6

-1.2 1.5

147.0

151.8

0.4 0.1

0.5 0.5

-0.0 0.0

-0.0

-0.0 0.0

140.1

143.6

142.3 142.5

0.4 0.1

0.5 -0.1

0.4 0.6

0.1 -0.2

-0.0

0.0

-0.0 0.0

0.5

0.4

0.5

0.5

0.4

0.5 0.4

ING 3.10 Customer lending/deposits: WB - Daily Banking & Trade Finance

Customer lending/deposits Wholesale Banking - Daily Banking & Trade Finance

End of period

Acquisitions / divestments FX impact and other

End of period

Acquisitions / divestments FX impact and other

Acquisitions / divestments FX impact and other

In € billion

End of period

3Q2020

2Q2020

1Q2020

0.0

4Q2019

3Q2019

2Q2019 1Q2019

0.0

0.0

0.0

0.0

0.0

0.0 0.0

0.0

0.0

28.8 -1.8

30.4 32.0

-1.2 -2.0

-0.8 26.2

-0.4 0.4

28.8

30.4

59.7 -0.9

58.2 54.0

1.5 4.6

-0.3

0.1 -0.4

0.0

0.0

0.0 0.0

31.1 1.5

33.2 -3.1

32.8 30.9

0.7 1.5

-0.6

1.0

-0.3 0.4

32.0

31.1

33.2 32.8

55.1 -1.2

50.5 4.6

49.7 51.4

0.8 -1.8

0.1

0.1

-0.0 0.1

58.5

59.7

58.2

54.0

55.1

50.5

49.7

ING 3.11 Customer lending/deposits: WB - Financial Markets

Customer lending/deposits Wholesale Banking - Financial Markets

End of period

Acquisitions / divestments FX impact and other

Acquisitions / divestments FX impact and other

In € billion

Acquisitions / divestments FX impact and other

End of period

End of period

3Q2020

2Q2020

1Q2020

0.0

4Q2019

3Q2019

2Q2019 1Q2019

0.0

0.0

0.0

0.0

0.0

0.0 0.0

0.0

0.0

1.6 -0.2

2.1 1.4

-0.6 0.7

1.4

0.0

0.0

0.0 0.0

1.8 -0.4

1.7 0.1

1.2 1.5

0.5 -0.3

1.6

2.1

5.5 -0.3

6.4 4.6

-1.0 2.0

-0.3

0.1 -0.2

1.4

1.8

1.7 1.2

5.8 -1.1

7.4 -1.7

5.4 4.3

2.0 1.0

-0.0

0.1

-0.0 0.1

5.0

5.5

6.4

4.6

5.8

7.4 5.4

ING 3.12 Customer lending/deposits: WB - Treasury & Other

Customer lending/deposits Wholesale Banking - Treasury & Other

End of period

In € billion

Acquisitions / divestments FX impact and other

End of period

Acquisitions / divestments FX impact and other

Acquisitions / divestments FX impact and other

End of period

3Q2020

2Q2020

1Q2020

0.8 -0.0

0.8 0.8

0.0 -0.0

0.0

0.0 -0.0

0.8

0.8

0.8

4.6 11.1 4.6

0.3 -0.2 -0.5

-0.6 -6.3 7.1

-0.0 -0.0

4.2

4Q2019

3Q2019

2Q2019 1Q2019

0.9 0.0

0.8

0.8 0.9

0.0 0.0

-0.2

0.1

0.1 -0.2

0.8

0.9

0.8 0.8

4.5 0.3 -0.2

4.6 -0.1 -0.0

4.6 4.7

-0.0 0.2

-0.0 -0.3

4.6

11.1

4.1 0.2 -0.3

5.3 4.4

-0.1 -0.5

-1.0 1.4

-0.0

-0.0 -0.0

4.6

4.5

4.6 4.6

4.7 0.3 -0.6

5.2 0.0 -0.5

5.4 6.9

0.2 0.1

-0.4 -1.6

0.0

-0.0

-0.0 -0.0

4.0

4.1

5.3

4.4

4.7

5.2 5.4

ING 3.13 Customer lending/deposits: Corporate Line

Customer lending/deposits Corporate Line

End of period

Acquisitions / divestments FX impact and other

End of period

Acquisitions / divestments FX impact and other

Acquisitions / divestments FX impact and other

In € billion

End of period

3Q2020

2Q2020

1Q2020

0.4

0.4 0.4

0.0 0.4

0.0 0.0

4Q2019

3Q2019

2Q2019 1Q2019

0.4

0.4

0.4 0.4

-0.0

0.0

0.0 0.0

0.4

0.4

0.4

0.4

0.4 0.4

0.0

0.0

0.0

0.0

0.0

0.0 0.0

-0.0

0.0 0.0

-0.0 0.0

0.0 0.0

0.0 0.0

-0.0 -0.0

0.0

0.0 0.0

ING 3.14 Customer lending/deposits: 4Q2020 Geographical split of the segments

Customer lending/deposits Geographical split of the segments

End of period

In € billion

Acquisitions / divestments FX impact and other

End of period

Acquisitions / divestments FX impact and other

Acquisitions / divestments FX impact and other

End of period

Netherlands

BelgiumGermanyOther ChallengersGrowth Markets

111.4

38.7 0.0

78.8 1.6

57.6 12.6

-0.5

0.5 0.5

-0.1

-0.0 38.7

-0.0 80.3

1.1 -0.0

110.8

WB Rest of WorldOther

0.0 0.0

59.1

13.1

0.0 0.0

73.5 -1.0 -0.1

66.5 -1.5 -0.0

43.7 -0.8 -0.5

32.7 -0.9 0.0

25.2 66.6 0.4

-0.2 1.1 -0.0 -0.0 0.0

-0.4 72.0

-0.1

-0.5

0.2

-0.1 -1.9 0.0

64.8

41.9

32.0

24.9

65.8 0.4

197.7

108.3

142.9

98.7 0.5 -0.0

46.9 11.1 0.0

4.9 -3.7

1.1 -0.5

2.8 -0.1

-0.2 -1.3 0.0 0.0 -0.6

1.1

-0.1 -0.1 -0.0

199.0

108.9

145.6

100.4

46.6

9.2 -0.0

ING 3.15 Customer lending/deposits: Geographical Netherlands

Customer lending/deposits Geographical Netherlands

End of period

In € billion

Acquisitions / divestments FX impact and other

End of period

Acquisitions / divestments FX impact and other

Acquisitions / divestments FX impact and other

End of period

3Q2020

2Q2020

1Q2020

111.9

112.2 112.4

-0.5

-0.5 -0.5

-0.1

0.2 0.2

111.4

4Q2019

3Q2019

2Q2019 1Q2019

113.2

113.0

112.7 112.1

-0.4

-0.0

0.2 0.2

-0.4

0.2

0.2 0.4

111.9

112.2

79.3 -2.0 -3.4

77.7 75.6

-1.4 1.0

3.2 0.9

-0.4 73.5

-0.2 0.2

79.3

77.7

196.4

188.1 178.7

2.3 -1.0

11.9 1.9

-3.6 7.5

112.4

113.2

113.0 112.7

77.2 -0.7 -0.6

76.2 -0.1 0.5

76.1 72.7

-0.2 2.7

0.5 0.4

-0.3

0.5

-0.2 0.3

75.6

77.2

76.2 76.1

176.4

176.3

170.8 172.8

5.1 -2.8

1.3 -1.1

6.9 -2.3

-1.5 0.3

197.7

196.4

188.1

178.7

176.4

176.3 170.8

ING 3.16 Customer lending/deposits: Geographical Belgium

Customer lending/deposits Geographical Belgium1)

End of period

In € billion

Acquisitions / divestments FX impact and other

End of period

Acquisitions / divestments FX impact and other

Acquisitions / divestments FX impact and other

End of period

3Q2020

2Q2020

1Q2020

39.0 -0.3

39.1 39.3

-0.1 -0.2

-0.0 38.7

0.0 0.0

39.0

39.1

68.2 -1.5 0.0

70.8 67.6

-2.5 3.4

0.0 -0.4

-0.2

-0.1 0.1

66.5

4Q2019

3Q2019

2Q2019 1Q2019

39.4 0.0

38.8 0.5

38.5 37.9

0.2 0.4

-0.0

0.1

0.1 0.1

39.3

39.4

38.8 38.5

66.5 0.8 0.4

68.0 -1.1 -0.6

67.8 65.7

1.1 0.4

-0.8 1.6

-0.1

0.2

-0.1 0.1

68.2

70.8

111.3

109.9 105.2

-2.5 -0.5

1.6 3.8

-0.2 0.9

67.6

66.5

68.0 67.8

110.5

105.1

104.0 101.3

-5.4 0.1

5.4 0.0

1.1 2.7

-0.0 -0.0

108.3

111.3

109.9

105.2

110.5

105.1 104.0

1) Including ING Luxembourg.

ING 3.17 Customer lending/deposits: Geographical Germany

Customer lending/deposits Geographical Germany1)

End of period

In € billion

Acquisitions / divestments FX impact and other

End of period

Acquisitions / divestments FX impact and other

Acquisitions / divestments FX impact and other

End of period

3Q2020

2Q2020

1Q2020

77.5 1.3

76.4 76.1

1.0 0.3

0.0

0.0 0.1

78.8

4Q2019

3Q2019

2Q2019 1Q2019

75.8 0.5

74.7 0.9

73.9 73.5

0.8 0.2

-0.2

0.1

0.1 0.2

77.5

76.4

44.8 -0.9 0.4

45.1 44.3

-0.2 0.6

0.2 -0.1

-0.5

-0.3 0.3

43.7

76.1

75.8

74.7 73.9

46.1 -0.4 -0.4

46.9 0.1 -0.4

45.5 44.7

1.1 0.6

0.1 0.2

-1.1

-0.4

0.2 -0.0

44.8

45.1

141.0

138.4 139.5

1.8 0.1

2.6 -1.2

-0.1 0.1

44.3

46.1

46.9 45.5

138.1

138.0

138.2 138.8

1.6 -0.3

-0.1 0.2

-0.2 -0.4

0.1 -0.3

142.9

141.0

138.4

139.5

138.1

138.0 138.2

1) Including ING Austria.

ING 3.18 Customer lending/deposits: Geographical Other Challengers

Customer lending/deposits Geographical Other Challengers1)

In € billion	4Q2020	3Q2020	2Q2020	1Q2020	4Q2019	3Q2019	2Q2019	1Q2019
Residential mortgages
Beginning of period	57.6	57.7	54.8	58.1	56.9	55.5	56.2	54.0
Net production	0.5	0.0	0.0	0.2	1.0	1.2	0.1	1.4
Treasury
Acquisitions / divestments
FX impact and other	1.1	-0.2	2.9	-3.5	0.3	0.2	-0.8	0.7
End of period	59.1	57.6	57.7	54.8	58.1	56.9	55.5	56.2
Other customer lending
Beginning of period	32.7	33.9	32.9	32.6	33.1	32.6	31.4	31.1
Net production	-0.9	-1.0	0.3	1.0	-0.5	0.3	1.4	0.1
Treasury	0.0	0.0	0.0	0.0	-0.0	-0.0	0.0	0.0
Acquisitions / divestments
FX impact and other	0.2	-0.1	0.6	-0.7	0.0	0.1	-0.2	0.2
End of period	32.0	32.7	33.9	32.9	32.6	33.1	32.6	31.4
Customer deposits
Beginning of period	98.7	98.0	92.5	95.3	94.9	96.0	95.6	92.6
Net production	0.5	1.0	3.0	0.5	0.2	-1.1	1.0	2.2
Treasury	-0.0	-0.0	-0.1	0.1	-0.1	-0.1	0.1	0.1
Acquisitions / divestments
FX impact and other	1.1	-0.2	2.6	-3.5	0.3	0.1	-0.7	0.7
End of period	100.4	98.7	98.0	92.5	95.3	94.9	96.0	95.6

1) Includes Australia, Czech Republic, France, Italy, Spain and Portugal, Other.

ING 3.19 Customer lending/deposits: Geographical Growth Markets

Customer lending/deposits Geographical Growth Markets1)

In € billion	4Q2020	3Q2020	2Q2020	1Q2020	4Q2019	3Q2019	2Q2019	1Q2019
Residential mortgages
Beginning of period	12.6	12.6	12.0	12.1	11.2	10.9	10.4	11.2
Net production	0.5	0.3	0.4	0.6	0.6	0.5	0.5	-0.8
Treasury
Acquisitions / divestments
FX impact and other	-0.0	-0.3	0.2	-0.7	0.2	-0.2	0.1	-0.1
End of period	13.1	12.6	12.6	12.0	12.1	11.2	10.9	10.4
Other customer lending
Beginning of period	25.2	26.0	27.2	27.8	27.3	27.4	27.3	27.4
Net production	-0.2	0.2	-1.2	0.7	0.4	-0.0	0.1	0.2
Treasury	-0.0	-0.0	0.0	0.0	0.0	-0.0	-0.0	-0.0
Acquisitions / divestments
FX impact and other	-0.1	-1.0	0.0	-1.3	0.0	-0.1	-0.0	-0.3
End of period	24.9	25.2	26.0	27.2	27.8	27.3	27.4	27.3
Customer deposits
Beginning of period	46.9	47.1	43.9	43.7	41.4	40.8	39.3	38.9
Net production	-0.2	1.3	3.1	2.3	2.0	1.1	1.2	1.0
Treasury	0.0	0.0	-0.2	0.3	0.0	0.1	0.1	-0.2
Acquisitions / divestments
FX impact and other	-0.1	-1.5	0.3	-2.4	0.3	-0.5	0.2	-0.4
End of period	46.6	46.9	47.1	43.9	43.7	41.4	40.8	39.3

1) Includes: Poland, Romania, Turkey, Philippines, Asian stakes.

ING 3.20 Customer lending/deposits: Geographical WB Rest of World

Customer lending/deposits Geographical Wholesale Banking Rest of World

End of period

In € billion

Acquisitions / divestments FX impact and other

End of period

Acquisitions / divestments FX impact and other

Acquisitions / divestments FX impact and other

End of period

3Q2020

2Q2020

1Q2020

0.0

4Q2019

3Q2019

2Q2019 1Q2019

0.0

0.0

0.0

0.0

0.0

0.0 0.0

0.0

0.0

71.4 -2.7 -0.0

82.9 70.1

-3.2 4.8

-7.0 7.1

-2.1 66.6

-1.2 0.9

71.4

82.9

12.0 -0.4 -0.1

13.5 12.0

-1.3 1.8

-0.2 -0.0

-0.4 11.1

0.1 -0.4

0.0

0.0

0.0 0.0

70.2 0.5 -0.1

70.7 -3.7 0.0

70.2 66.9

1.7 1.9

-0.0 -0.0

-0.5

3.2

-1.2 1.5

70.1

70.2

70.7 70.2

12.9 -1.0 0.1

14.9 -2.0 -0.3

13.4 11.2

1.8 1.6

-0.2 0.4

0.0

0.3

-0.1 0.3

12.0

13.5

12.0

12.9

14.9 13.4

ING 3.21 Customer lending/deposits: Geographical Other

Customer lending/deposits Geographical Other1)

End of period

Acquisitions / divestments FX impact and other

End of period

Acquisitions / divestments FX impact and other

Acquisitions / divestments FX impact and other

In € billion

End of period

3Q2020

2Q2020

1Q2020

0.4

0.4 0.4

0.0 0.4

0.0 0.0

4Q2019

3Q2019

2Q2019 1Q2019

0.4

0.4

0.4 0.4

-0.0

0.0

0.0 0.0

0.4

0.4

0.4

0.4

0.4 0.4

0.0

0.0

0.0

0.0

0.0

0.0 0.0 -0.0

-0.0 0.0

0.0 0.0

-0.0 0.0

0.0 0.0

0.0 0.0

-0.0 -0.0

0.0 0.0

1) Region Other consists of Corporate Line and Real Estate run-off portfolio.

Important legal information

ING Group's annual accounts are prepared in accordance with International Financial Reporting Standards as adopted by the European Union ('IFRS-EU'). In preparing the financial information in this document, except as described otherwise, the same accounting principles are applied as in the 2019 ING Group consolidated annual accounts. The Financial statements for 2020 are in progress and may be subject to adjustments from subsequent events. All figures in this document are unaudited. Small differences are possible in the tables due to rounding.

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