We use cookies on our website to show you content we think is relevant to you, to manage the technical operations of our website, and analyse our 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", you agree to the use of all cookies as described in our Cookie statement or "Do not accept" to only use cookies strictly necessary for the functioning of the site.

Wholesale Banking

ING posts FY2022 net result of €3,674 million, proposed final 2022 dividend of €0.389 per share

4Q2022 profit before tax of €1,711 million; CET1 ratio remains strong at 14.5%

  • Profit before tax up 29% on 4Q2021 and 24% on 3Q2022, mainly driven by higher income
  • Higher net interest income, as a further increase in liability margins helped off set TLTRO impact this quarter
  • Risk costs declined to 17 bps of average customer lending

Full-year 2022 net result of €3,674 million, supported by growing customer base and increase in lending and deposits

  • On a full-year basis, our primary customer base grew by 585,000
  • Net core lending growth of €18 billion and net core deposits growth of €25 billion in 2022
  • Net result of €3,674 million in a challenging year; proposed final 2022 dividend of €0.389 per share

CEO statement

“Looking back, 2022 was an extraordinary year,” said ING CEO Steven van Rijswijk. “The outbreak of war in Ukraine – first and foremost an immense human tragedy – had a far-reaching impact on people’s lives, on societies and on economies, causing energy and price shocks and driving up inflation and interest rates. Despite the challenging operating conditions and lingering effects of Covid-19, we performed well.

“The rapid changes of the past year underscore the importance of having clear strategic priorities and being able to adapt to changing circumstances. Our focus is on making the difference for people and the planet by providing a superior customer experience and putting sustainability at the heart of what we do.

“We continued to execute on our strategy and delivered strong results, as well as made significant progress in a number of areas, including providing seamless digital services using our strong scalable tech and operations foundations. An example of this is our onboarding process in the Netherlands, where 52% of new customers were digitally onboarded in the fourth quarter of 2022, up from 39% in the same quarter of 2021. This is really strong proof of how we’re digitalising our sales and service model in one of our Market Leaders countries. The year 2022 closed with impressive growth in the number of global mobile payments transactions, reaching a remarkable amount of 1.4 billion transactions, up more than 60% year-on-year.

“Regarding our financial performance, we managed to limit expense growth despite the impact of higher salary expenses and higher marketing expenses to invest in the growth of our customer base. In various countries, we supported our employees with allowances to help them cover their increased energy costs.

“The positive developments in our net promoter scores prove that customers value our services. We’re now number one in six of our 10 retail markets. In Wholesale Banking too we see a growing appreciation among clients, with our net promoter score improving to 67 at year-end 2022, up from 59 at year-end 2021 and well above the industry benchmark. I’m particularly proud that even more customers are choosing ING as their primary bank. During this quarter, our primary customer base grew by 218,000, mainly in the Challenger & Growth markets. On a full-year basis, we gained 585,000 primary customers, bringing the total number to 14.6 million, which is 4% higher than year-end 2021.

“We also made further progress on our sustainability goals during 2022. Wholesale Banking continues to be a sustainability pioneer in helping clients transition to a more sustainable way of doing business, achieving a volume of over €100 billion in sustainable finance mobilised by end-2022. That puts us well on our way towards our goal of €125 billion annually by 2025.

“Despite continued uncertainty in the current operating environment, I’m confident in our ability to perform well in these circumstances. We have a good capital position, a growing customer base, a diversified income stream, a strong funding structure as well as one of the best credit ratings in the eurozone. We’ll continue to invest to provide our customers with a superior experience, helped by our technology foundations, and to facilitate the transition to a low-carbon economy.

“I want to thank our customers for their ongoing loyalty to ING and our colleagues worldwide for their hard work under challenging circumstances, which contributed to our strong performance throughout the whole year. Also a thank you to our shareholders for continuing to support our strategy.”

Read more about our quarterly results.