Ing Groep N.V. ( (ING) ) has released its Q4 earnings. Here is a breakdown of the information Ing Groep N.V. presented to its investors.
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ING Groep N.V., a prominent financial services institution headquartered in Amsterdam, operates in the banking sector, providing retail and wholesale banking services globally. The company is noted for its strong focus on digital banking and commitment to sustainable finance.
In its 2024 earnings report, ING Groep N.V. reported a net profit of €6,392 million, reflecting robust commercial growth backed by an expanding customer base and increased lending and deposits. The company highlighted significant achievements in customer acquisition, particularly in mobile banking, and noted its progress in sustainable finance initiatives.
Key financial metrics for 2024 included a profit before tax of €9,300 million, supported by strong income growth, notably in fee income which surpassed €4 billion for the first time. The company’s mobile primary customer base increased by 1.1 million to 14.4 million, with core lending and deposit growth observed across all markets. The CET1 ratio stood at 13.6% by year-end, and a final cash dividend of €0.71 per share was proposed.
Looking forward, ING’s management remains cautiously optimistic amidst geopolitical volatility and economic uncertainties. They plan to continue focusing on strategic growth, digital transformation, and supporting sustainable transitions for their clients, while maintaining a vigilant approach to risk management.
