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2016-02-04

ING Group: ING 2015 underlying net profit EUR 4,219 million; FY 2015 dividend at EUR 0.65 per ordinary share

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| Think Forward strategy drives strong new customer acquisitions and commercial |
|growth in 2015 |
| · ING attracted over 1.4 million new retail customers; primary relationships |
| increased by almost 7% to 8.9 million |
| · Core lending recorded net growth of EUR 21.7 billion; robust net customer |
| deposit inflow of EUR 25.1 billion |
| |
| ING Bank full-year 2015 underlying net profit of EUR 4,219 million, up 23.2% |
|from full-year 2014 |
| · Strong 2015 performance reflects higher interest results and lower risk costs, |
| despite higher regulatory costs |
| · 4Q15 underlying result before tax was EUR 1,202 million with positive momentum |
| across both Retail and Wholesale Banking |
| |
| ING Group fully-loaded CET1 ratio strengthened to 12.7%; proposal to pay |
|full-year dividend of EUR 2,515 million |
| · ING Group full-year 2015 net result EUR 4,010 million; 4Q15 net result was EUR |
| 819 million |
| · ING Group's SREP requirement set at 9.5%; Dutch buffers currently set at 3% |
| and phase in over four years |
| · ING proposes to pay final cash dividend of EUR 0.41 per ordinary share, |
| following interim dividend of EUR 0.24 in August 2015 |
| |
| CEO statement |
| |
|"We work hard every day to improve the customer experience and are grateful |
|for the confidence our clients place in us," said Ralph Hamers, CEO of ING |
|Group. "In 2015, our retail customer base grew by over 1.4 million new |
|customers to 34.4 million at year-end; of this total, the number of customers |
|selecting ING as their primary bank rose by almost 7% to 8.9 million. Net |
|growth in our core lending book was EUR 21.7 billion, or 4.2%, as we |
|continued to support our clients' financing needs throughout the business |
|cycle. Net customer deposits grew by EUR 25.1 billion, or 5.1%." |
| |
| "During 2015, we also made significant progress on increasing the pace of |
|innovation across the company. In the fourth quarter, Poland introduced Moje |
|ING, a platform which gives customers a comprehensive overview of their |
|finances with the help of an easy-to-use financial planning tool, and is |
|based on a similar system in Spain. Twyp, our app for peer-to-peer payments |
|using telephone numbers, was launched in Spain in December. In the new year |
|we also launched Twyp in the Netherlands and announced an investment in the |
|fintech WeLab, which provides consumer loans in China and Hong Kong in a |
|fully automated process that takes just minutes." |
| |
| "I'm proud that ING also made important strides in our sustainability eff |
|orts. We published our ambitions to reduce our carbon dioxide footprint, |
|water usage and waste by 20% and have committed to procuring 100% renewable |
|electricity for all our buildings, both by 2020. As part of our eff orts to |
|helping our clients' transition to more sustainable operations, we ended the |
|financing of new coal exploration and are reducing existing coal financing." |
| |
| "ING Bank recorded an underlying net profit of EUR 4,219 million in 2015, |
|which is 23.2% higher than in 2014. This improvement was primarily driven by |
|higher interest results on the back of strong lending growth and lower risk |
|costs, and despite a substantial increase in regulatory costs. ING Bank's |
|full-year underlying return on equity rose to 10.8% from 9.9% in 2014. ING |
|Bank's fourth-quarter 2015 underlying result before tax was EUR 1,202 |
|million, reflecting continued positive momentum in both Retail and Wholesale |
|Banking. Income grew, supported by volume growth and increased fees, and ING |
|Germany delivered another record quarterly result." |
| |
| "In 2015, we completed the divestment of Voya and significantly reduced our |
|stake in NN Group, bringing us closer to completing our restructuring and |
|consolidating our position as one of Europe's leading banks. Including the |
|net result of the legacy Insurance businesses, ING Group posted a net result |
|of EUR 4,010 million for the full-year 2015. The fourth-quarter 2015 net |
|result of ING Group was EUR 819 million." |
| |
| "Our capital position continued to strengthen and the fully-loaded CET1 |
|ratios of ING Group and ING Bank were 12.7% and 11.6%, respectively, at |
|year-end. We are pleased to propose a full-year 2015 dividend of EUR 0.65 per |
|share, comprising the previously announced interim dividend of EUR 0.24 and a |
|final dividend of EUR 0.41 per share. We are committed to maintaining a |
|healthy Group CET1 ratio in excess of prevailing fully-loaded requirements, |
|currently 12.5%, and to returning capital to our shareholders. We aim to pay |
|a progressive dividend over time." |
| |
| "ING's strategy is on track and I am proud of our achievements in 2015. I am |
|confident that our franchise will continue to create sustainable long-term |
|growth in 2016, while empowering our customers and delivering value to our |
|shareholders." |
| Further information |
| |
|All publications related to ING's 2015 Full Year and 4Q15 results can be found |
|atwww.ing.com/4q15, including a video interview with Ralph Hamers, which is |
|also available atYouTube |
| |
| |
|Additional financial information is available atwww.ing.com/qr: |
| |
|- ING Group historical trend data |
|- ING Group analyst presentation (also available viaSlideShare) |
| |
|- ING Group media presentation (also available viaSlideShare) |
| |
| |
| |
| |
|For further information on ING, please visitwww.ing.com. Frequent news updates |
|can be found in theNewsroomor via the@ING_newstwitter feed. Photos of ING |
|operations, buildings and its executives are available for download atFlickr. |
|Video is available onYouTube. Footage (B-roll) of ING is available |
|viavideobankonline.com, or can be requested by |
|emailinginfo@videobankonline.com. ING presentations are available |
|atSlideShare. |
| |
| Investor conference call, media conference call and webcasts |
| |
|Ralph Hamers, Patrick Flynn and Wilfred Nagel will discuss the results in an |
|analyst and investor conference call on 4 February 2016 at 9:00 a.m. CET. |
|Members of the investment community can join the conference call at +31 20 |
|794 8500 (NL), +44 20 7190 1537 (UK) or +1 480 629 9031 (US) and via live |
|audio webcast atwww.ing.com. |
| |
| |
|Ralph Hamers, Patrick Flynn and Wilfred Nagel will also discuss the results in |
|a Press conference on 4 February 2016 at 11:00 a.m. CET. Journalists are |
|welcome at ING Amsterdamse Poort, Bijlmerplein 888, Amsterdam. Alternatively, |
|they can join a conference call via +31 20 531 5871 (NL) or +44 203 365 3210 |
|(UK). The Media conference call can also be followed via live audio webcast |
|atwww.ing.comor via Periscope via ING's Twitter handle@ING_news. |
| |
| Investor enquiries |
| |
| |
|T: +31 20 576 6396 |
|E:investor.relations@ing.com |
| |
| |
|Press enquiries ...

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