ING Releases 2018 Net Results

ING Releases 2018 Net Results

The Dutch bank ING continues to achieve strong commercial momentum.

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The Dutch bank ING continues to achieve strong commercial momentum.

Here`s what the bank published as results in a press release:

  • Retail customer base grew to 38.4 million in 4Q18, and primary customer relationships grew by 300,000 to reach 12.5 million
  • Net core lending increased by €3.2 billion in 4Q18; net customer deposit inflow amounted to €7.7 billion

 

  • ING 4Q18 underlying pre-tax result of €1,692 million; full-year 2018 underlying pre-tax result up 4.5% on 2017
    Results reflect continued business growth at resilient margins, higher net commission and fee income, and lower risk costs
  • Full-year underlying ROE rose to 11.2% and fully loaded CET1 ratio is strong at 14.5%; FY2018 dividend of €0.68 per share

The CEO of the bank said:

“This past year has been filled with both achievements to be proud of and challenges to overcome and learn from,” said Ralph Hamers, CEO of ING Group.”

He added:

“Following the settlement we reached with Dutch authorities in September 2018, we are continuing our know your customer (KYC) enhancement programme, emphasizing regulatory compliance as the key priority. The organisation continues to work hard on enhancing our customer due to diligence files and on a number of structural solutions to bring our anti-money laundering activities to a sustainably better level. We’re committed to conducting our business with integrity, and regulatory compliance remains the priority for 2019 and beyond.”

He concluded:

“We’ve started 2019 with total dedication to our regulatory and compliance commitments, while always remembering who we’re here for – our customers. Empowering them to stay a step ahead in life and in business remains our guiding purpose.”

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