ING Groep (INGA) investor relations material

Executive summary

• Achieved strong and diversified growth in Q1 2026, with net result reaching €1,556 million, up 6.9% year-over-year, and mobile primary customers increasing by 1 million year-over-year.

• Maintained #1 NPS in 5 of 9 retail markets, leveraging technology and AI for superior customer experience.

• EPS improved by 11% on a 12-month rolling basis, with ROTE at 13.6% for the quarter.

• Continued execution of growth strategy, focusing on digitalization, operational scalability, and customer experience.

• Launched a new €1.0 billion share buyback program, reinforcing commitment to shareholder returns.

Financial highlights

• Total income grew 3% year-over-year to €5,823 million, driven by a 7% increase in commercial NII and 13% growth in fee income.

• Net core lending increased by €15.0 billion, with retail banking contributing €9.4 billion and wholesale banking €5.6 billion.

• Operating expenses (excluding regulatory/incidental items) increased by only 1.1% year-over-year to €2,865 million, reflecting disciplined cost management.

• Risk costs were €346 million (19 bps of average customer lending), slightly below through-the-cycle average.

• Net result per share rose 14.9% year-over-year to €0.54.

Outlook and guidance

• On track to achieve upgraded financial outlook for 2026 and 2027, targeting >14% ROTE in 2026 and >15% in 2027, with CET1 ratio around 13%.

• Commercial NII for full year expected between €16.5 billion and €16.7 billion.

• Fee income for 2026 anticipated to rise 5–10%.

• Operating expenses projected at €12.6–€12.8 billion in 2026, excluding incidentals.

• All other income for the full year expected between €2.5 billion and €2.7 billion.