Cookie settings

Cookies are small text files stored on your device to identify you and can be used to remember user preferences and analyse traffic to further improve our website. We may share information about your use of our site with our social media, advertising and analytics partners. By clicking "Accept all cookies", you agree to the use of all cookies as described in our cookie statement or "Accept only essential cookies" to only use cookies that are necessary for the functioning of our site.

Read our cookie statement here.

You can choose to adjust your preferences at any time.

Wholesale Banking

ING posts 3Q2022 net result of €979 million

“I’m pleased with our solid performance, especially in light of the challenging economic and geopolitical environment,” said Steven van Rijswijk, CEO of ING. “Our strategy and our strong, diversified balance sheet are paying off. Total income this quarter was €4,412 million. Without two exceptional items it would have been €5,043 million, as we benefitted from higher interest rates, supporting our revenues in both Retail and Wholesale Banking. Fee income was resilient, as higher fees from daily banking were offset by lower fees from investment products, due to a decline in stock markets and subdued trading activity. The two exceptional items were €343 million from new regulation in Poland for mortgages as previously announced, and a hedge accounting impact of €288 million, of which the mirroring positive impact will be recognised over the coming years.

“The exceptionally high inflation and high energy prices are affecting consumers and companies alike. Our own expenses were also impacted by increasing inflationary pressure and adverse currency developments this quarter, however controllable expenses were well contained. With our scalable Tech and Operations foundation, we’re able to grow our business at marginal cost. One of the three main elements of this foundation, our ING Private Cloud (IPC), reached an important milestone this quarter: more than 50% of the workload is now on IPC, up from 34% in 2021, meaning we’re well on our way to reach our 70% target by 2025.

“Risk costs remained in line with our through-the-cycle average and include overlays based on the macroeconomic outlook. We’re confident of the quality of our loan portfolio, the strength of our diversified risk profile and our provisioning levels. Combined with our strong capital position this allows us to announce today an additional distribution to our shareholders of €1.5 billion, which is fully in line with our capital ambitions as presented at our recent Investor Update.

3Q2022 profit before tax of €1,380 million; CET1 ratio remains strong at 14.7%

  • Net customer deposits growth of €10.5 billion and net core lending growth of €4.7 billion
  • In net interest income, higher liability margins helped to offset the impact of the Polish mortgage moratorium
  • Risk costs normalised reflecting the macroeconomic environment
  • Additional distribution to shareholders of €1.5 billion

Read full article on