ING posts 3Q2019 net result of €1,344 million

CEO Ralph Hamers issues a statement about ING's progress in the third quarter.

ING continues to see growth in primary customers and customer deposits

  • Retail primary customers rose in 3Q2019 by 165,000 to 13.1 million; total retail customer base reaches 38.7 million
  • Net customer deposits in 3Q2019 grew by €4.4 billion; net core lending declined by €1.0 billion, while maintaining growth in mortgages


ING 3Q2019 underlying pre-tax result of €1,911 million

  • Result reflects well-diversified loan book with resilient margins, despite margin pressure on customer deposits, as well as higher fee income
  • Expenses increased mainly due to KYC; risk costs remain below ING’s through-the-cycle average
  • Four-quarter rolling underlying ROE was 10.3%; ING Group CET1 ratio increased to 14.6%


“We performed well in the third quarter. Even with the ongoing negative interest rate environment, our net interest income has remained resilient,” said Ralph Hamers, CEO of ING Group. “Furthermore, we saw an increase in fee income in the third quarter.

We also recorded higher expenses mostly related to our know your customer (KYC) programme and an increase in risk costs."

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