ING Groep N.V. (ING) 10-Year Financial Performance & Capital Metrics

ING • • Banking & Credit

Financial ServicesDiversified BanksRegional & Domestic Diversified BanksEuropean Domestic Banking Leaders

AboutING Groep N.V., a financial institution, provides various banking products and services in the Netherlands, Belgium, Germany, Poland, Rest of Europe, North America, Latin America, Asia, and Australia. It operates in six segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, Wholesale Banking, and Corporate Line Banking. The company accepts various deposits, such as current and savings accounts; and offers business lending products, as well as consumer lending products, such as residential mortgage loans, term loans, and revolver and personal loans. It also provides debt capital market, working capital, export finance, daily banking, treasury and risk, and corporate finance solutions; and specialized lending, equity market, finance, payments and cash management, and trade services and solutions, as well as savings, investment, insurance, mortgage, and digital banking services. The company serves customers, corporate clients, and financial institutions, including small and medium-sized, and mid-corporates. ING Groep N.V. was founded in 1762 and is headquartered in Amsterdam, the Netherlands.Show more

Net Interest Income $15.02B -6.0%
Total Revenue $20.05B +13.8%
Net Income $5.33B +28.8%
Return on Equity 10.31% +27.7%
Net Interest Margin 1.47% -10.1%
Efficiency Ratio 38.02% -5.5%
ROA 0.53% +25.4%
Equity / Assets 5.03% -6.0%
Book Value per Share 16.21 +10.7%
Tangible BV/Share 15.79 +10.4%
Debt/Equity 3.34 +16.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 38.0% efficiency ratio
✓Healthy dividend yield of 4.2%
✓Share count reduced 11.2% through buybacks
✓Trading near 52-week high

✗Weaknesses

✗High debt to equity ratio of 3.3x
✗Weak NIM of 1.5%
✗Thin capital base

Price & Volume

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Growth Metrics

Revenue CAGR

10Y2.75%

5Y1.84%

3Y0.93%

TTM-

Profit (Net Income) CAGR

10Y15.61%

5Y2.21%

3Y3.75%

TTM-22.91%

EPS CAGR

10Y17.82%

5Y6.05%

3Y10.29%

TTM-17.57%

ROCE

10Y Avg3.25%

5Y Avg3.24%

3Y Avg3.98%

Latest4.92%

Peer Comparison

European Domestic Banking Leaders

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
INGING Groep N.V.	83.84B	28.92	17.53	13.77%	26.6%	12.29%		3.34
NWGNatWest Group plc	68.45B	17.14	16.17	101.57%	16.81%	12.5%	1.01%	1.67

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	12.56B	13.24B	13.71B	13.95B	14.08B	13.6B	13.62B	13.76B	15.98B	15.02B
NII Growth %	0.02%	0.05%	0.04%	0.02%	0.01%	-0.03%	0%	0.01%	0.16%	-0.06%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	12.59B	44.18B	13.71B	13.92B	14.08B	22.71B	21.11B	28.47B	52.23B	58.91B
Interest Expense	33.76B	30.94B	0	13.85B	14.38B	9.11B	7.5B	14.71B	36.25B	43.88B
Loan Loss Provision	-33.56B	-30.94B	158M	-13.83B	-14.38B	2.63B	491M	-14.71B	-36.25B	-43.88B
Non-Interest Income+	3.96B	-26.8B	4.06B	4.26B	4.23B	4.22B	-1.61B	952M	-34.6B	-38.85B
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	16.55B	17.39B	17.77B	18.18B	18.31B	26.93B	19.51B	29.42B	17.63B	20.05B
Revenue Growth %	0.08%	0.05%	0.02%	0.02%	0.01%	0.47%	-0.28%	0.51%	-0.4%	0.14%
Non-Interest Expense	23.06B	19.82B	19.81B	2.42B	-11.57B	6.15B	11.01B	6.48B	7.09B	7.63B
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	39.41B	37.21B	37.43B	20.58B	6.74B	3.81B	13.26B	22.94B	10.49B	12.43B
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.03%	-0.06%	0.01%	-0.45%	-0.67%	-0.43%	2.48%	0.73%	-0.54%	0.18%
Pretax Income+	5.96B	5.9B	7.27B	6.84B	6.83B	3.81B	8.38B	17.36B	7.34B	7.77B
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	1.67B	1.62B	2.28B	2.03B	1.96B	1.25B	2.31B	5.13B	2.97B	2.18B
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	4.01B	4.65B	4.91B	4.7B	4.78B	2.48B	4.78B	3.67B	4.14B	5.33B
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	2.21%	0.16%	0.05%	-0.04%	0.02%	-0.48%	0.92%	-0.23%	0.13%	0.29%
Net Income (Continuing)	4.54B	4.61B	4.99B	4.81B	4.88B	2.56B	6.08B	12.23B	4.38B	5.59B
EPS (Diluted)+	1.04	1.20	1.26	1.21	1.23	0.64	1.23	1.01	1.16	1.65
EPS Growth %	2.25%	0.15%	0.05%	-0.04%	0.02%	-0.48%	0.92%	-0.18%	0.15%	0.42%
EPS (Basic)	1.04	1.20	1.26	1.21	1.23	0.64	1.23	1.02	1.16	1.65
Diluted Shares Outstanding	3.86B	3.88B	3.89B	3.89B	3.9B	3.9B	3.89B	3.62B	3.57B	3.17B

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	51.45B	19.67B	21.99B	49.99B	53.2B	112.23B	108.01B	87.25B	89.89B	70.35B
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	136.59B	128.67B	112.78B	123.7B	207.41B	139.29B	139.2B	830.34B	251.14B	896.35B
Investments Growth %	-0.09%	-0.06%	-0.12%	0.1%	0.68%	-0.33%	-0%	4.96%	-0.7%	2.57%
Long-Term Investments	230.49B	113.85B	201.15B	195.15B	174.62B	104.46B	109.41B	799.36B	210.97B	851.57B
Accounts Receivables	1000K	1000K	1000K	0	0	0	0	0	0	0
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	985M	903M	816M	918M	907M	533M	472M	464M	469M	476M
Intangible Assets	582M	581M	653M	921M	1.01B	860M	684M	637M	729M	857M
PP&E (Net)	2.03B	2B	1.8B	1.66B	3.17B	2.84B	2.52B	2.45B	2.4B	2.43B
Other Assets	-234.08B	-1B	-818M	-98.36B	-730M	-773M	-957M	-610.64B	628.4B	48B
Total Current Assets	39.33B	41.36B	39.86B	83.11B	88.85B	148.25B	139.16B	119.86B	131.33B	116.13B
Total Non-Current Assets	234.08B	117.34B	204.42B	98.36B	179.71B	108.69B	113.08B	194.06B	844.25B	904.41B
Total Assets+	841.77B	845.08B	846.22B	887.03B	891.74B	937.38B	951.29B	967.82B	975.58B	1.02T
Asset Growth %	-0.15%	0%	0%	0.05%	0.01%	0.05%	0.01%	0.02%	0.01%	0.05%
Return on Assets (ROA)	0%	0.01%	0.01%	0.01%	0.01%	0%	0.01%	0%	0%	0.01%
Accounts Payable	5.16B	4.39B	3.61B	61M	0	4.88B	5.08B	0	0	0
Total Debt+	137.7B	131.75B	112.05B	133.47B	135.12B	78.95B	116.01B	119.5B	150B	171.33B
Net Debt	86.25B	112.08B	90.06B	83.49B	81.91B	-33.28B	8.01B	32.25B	60.11B	101.37B
Long-Term Debt	137.7B	131.75B	112.05B	133.47B	118.18B	77.39B	114.79B	118.32B	148.84B	170.21B
Short-Term Debt	0	0	0	0	0	0	0	0	0	0
Other Liabilities	24.12B	-132.67B	-112.81B	-134.12B	0	804.23B	33.51B	47.74B	38.95B	40.56B
Total Current Liabilities	5.16B	4.39B	3.61B	61M	968M	738.64B	401.1B	444.09B	734.25B	757.05B
Total Non-Current Liabilities	138.34B	132.67B	112.81B	142.64B	837.08B	881.62B	896.63B	917.41B	189.15B	212.19B
Total Liabilities	793.3B	794.68B	795.1B	835.3B	837.08B	881.62B	896.63B	917.41B	923.4B	969.24B
Total Equity+	48.47B	50.4B	51.12B	51.73B	54.66B	55.66B	54.66B	50.41B	52.18B	51.31B
Equity Growth %	-0.17%	0.04%	0.01%	0.01%	0.06%	0.02%	-0.02%	-0.08%	0.04%	-0.02%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.07%	0.09%	0.1%	0.09%	0.09%	0.05%	0.09%	0.07%	0.08%	0.1%
Book Value per Share	12.57	12.99	13.13	13.31	14.03	14.27	14.05	13.91	14.64	16.21
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	16.98B	39M	17.05B	17.09B	17.12B	39M	39M	37M	35M	31M
Additional Paid-in Capital	16.05B	16.95B	17.01B	17.05B	17.08B	17.09B	17.11B	17.12B	17.12B	17.12B
Retained Earnings	26.82B	26.91B	31.52B	33.2B	35.85B	35.18B	37.32B	34.94B	43.35B	33.85B
Accumulated OCI	4.04B	5.91B	1.85B	656M	811M	2.33B	1.07B	-985M	-4B	77M
Treasury Stock	-18M	-8M	-15M	-11M	-10M	-4M	-1.61B	-1.21B	-1.99B	-765M
Preferred Stock	10.75B	0	0	0	0	0	0	0	143M	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	10.58B	8.55B	-5.25B	6.92B	13.05B	18.46B	-14.94B	-11.11B	11.95B	-22.54B
Operating CF Growth %	-0.12%	-0.19%	-1.61%	2.32%	0.89%	0.41%	-1.81%	0.26%	2.08%	-2.89%
Net Income	6.19B	6.34B	7.27B	6.84B	6.83B	3.81B	5.95B	5.5B	4.14B	9.3B
Depreciation & Amortization	634M	536M	520M	520M	789M	829M	834M	711M	674M	673M
Deferred Taxes	0	0	0	0	-41M	-19M	0	-26M	-31M	0
Other Non-Cash Items	-1.38B	866M	-312M	-2.71B	-1.19B	-82.52B	18.35B	5.91B	3.5B	-1.21B
Working Capital Changes	5.13B	809M	-12.73B	2.27B	6.63B	96.34B	-40.11B	-23.24B	3.64B	-31.31B
Cash from Investing+	4.2B	6.13B	11.75B	5.45B	-2.5B	-8.49B	6.22B	-5.31B	-8.54B	-6.03B
Purchase of Investments	-54.31B	-29.07B	-25.55B	-28.86B	-29.44B	-54.8B	-58.4B	-43.7B	-69.97B	-131.55B
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	-6.93B	1.37B	1.89B	-111M	-17M	-3M	27M	7M	0	0
Other Investing	3.15B	-64M	-40M	223M	825M	73M	38M	83M	58M	50M
Cash from Financing+	-11.16B	-19.06B	-3.95B	15.98B	-4.15B	-34.8B	5.39B	4.65B	-4.89B	5.37B
Dividends Paid	-1.39B	-2.52B	-2.56B	-2.61B	-2.68B	-3M	-2.38B	-3.09B	-2.97B	-3.88B
Share Repurchases	0	0	0	0	0	0	-1.61B	-1.72B	-3.53B	-3.82B
Stock Issued	34M	10M	7M	4M	1M	5M	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	-1000K	-1000K	-1000K	1000K	-1000K	-1000K	1000K	1000K	1000K	1000K
Other Financing	24.19B	10M	18.29B	31.63B	3M	0	1M	-1M	-23.29B	1M
Net Change in Cash+	3.27B	-4.21B	2.81B	28.55B	6.5B	57.54B	-3.9B	-12.27B	-2.38B	-23.94B
Exchange Rate Effect	-1000K	1000K	1000K	1000K	1000K	-1000K	-1000K	-1000K	-1000K	-1000K
Cash at Beginning	17.11B	20.38B	16.16B	18.98B	47.53B	54.03B	111.57B	107.67B	95.39B	93.01B
Cash at End	20.38B	16.16B	18.98B	47.53B	54.03B	111.56B	107.67B	95.39B	93.01B	69.07B
Interest Paid	0	0	0	0	0	0	0	0	0	41.19B
Income Taxes Paid	0	0	0	0	0	0	0	0	0	0
Free Cash Flow+	10.22B	8.2B	-5.52B	6.63B	12.7B	102.89B	-15.13B	-11.34B	-11.59B	-22.88B
FCF Growth %	-0.12%	-0.2%	-1.67%	2.2%	0.92%	7.1%	-1.15%	0.25%	-0.02%	-0.97%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	7.5%	9.41%	9.66%	9.14%	8.99%	4.5%	8.66%	6.99%	8.07%	10.31%
Return on Assets (ROA)	0.44%	0.55%	0.58%	0.54%	0.54%	0.27%	0.51%	0.38%	0.43%	0.53%
Net Interest Margin	1.49%	1.57%	1.62%	1.57%	1.58%	1.45%	1.43%	1.42%	1.64%	1.47%
Efficiency Ratio	139.29%	114.02%	111.48%	13.34%	-63.21%	22.82%	56.45%	22.03%	40.24%	38.02%
Equity / Assets	5.76%	5.96%	6.04%	5.83%	6.13%	5.94%	5.75%	5.21%	5.35%	5.03%
Book Value / Share	12.57	12.99	13.13	13.31	14.03	14.27	14.05	13.91	14.64	16.21
NII Growth	2.09%	5.41%	3.57%	1.7%	0.94%	-3.37%	0.09%	1.04%	16.13%	-5.97%
Dividend Payout	34.74%	54.2%	52.27%	55.43%	56.03%	0.12%	49.87%	84.19%	71.67%	72.72%

Revenue by Geography

	2018	2019	2020	2021	2022
Country of domicile	-	-	-	-	8.83B
Country of domicile Growth	-	-	-	-	-
GERMANY	2.31B	2.14B	2.38B	2.96B	8.57B
GERMANY Growth	-	-7.52%	10.98%	24.66%	189.47%
BELGIUM	2.84B	2.28B	2.64B	2.75B	4.37B
BELGIUM Growth	-	-19.77%	15.81%	4.44%	58.50%
POLAND	1.23B	1.34B	1.4B	1.51B	1.65B
POLAND Growth	-	9.36%	4.09%	7.86%	9.48%
AUSTRALIA	647M	701M	740M	782M	948M
AUSTRALIA Growth	-	8.35%	5.56%	5.68%	21.23%
SPAIN	600M	706M	679M	743M	899M
SPAIN Growth	-	17.67%	-3.82%	9.43%	21.00%
UNITED STATES	736M	813M	720M	936M	892M
UNITED STATES Growth	-	10.46%	-11.44%	30.00%	-4.70%
ROMANIA	403M	457M	456M	495M	584M
ROMANIA Growth	-	13.40%	-0.22%	8.55%	17.98%
FRANCE	323M	308M	239M	313M	557M
FRANCE Growth	-	-4.64%	-22.40%	30.96%	77.96%
LUXEMBOURG	315M	292M	279M	366M	503M
LUXEMBOURG Growth	-	-7.30%	-4.45%	31.18%	37.43%
SINGAPORE	340M	349M	353M	331M	354M
SINGAPORE Growth	-	2.65%	1.15%	-6.23%	6.95%
ITALY	231M	269M	337M	335M	345M
ITALY Growth	-	16.45%	25.28%	-0.59%	2.99%
SWITZERLAND	257M	234M	187M	241M	290M
SWITZERLAND Growth	-	-8.95%	-20.09%	28.88%	20.33%
KOREA, REPUBLIC OF	55M	60M	66M	65M	86M
KOREA, REPUBLIC OF Growth	-	9.09%	10.00%	-1.52%	32.31%
HONG KONG	110M	96M	92M	79M	82M
HONG KONG Growth	-	-12.73%	-4.17%	-14.13%	3.80%
HUNGARY	40M	24M	43M	44M	82M
HUNGARY Growth	-	-40.00%	79.17%	2.33%	86.36%
CZECHIA	-	-	-	-	78M
CZECHIA Growth	-	-	-	-	-
IRELAND	68M	71M	72M	70M	66M
IRELAND Growth	-	4.41%	1.41%	-2.78%	-5.71%
TURKEY	678M	677M	420M	335M	64M
TURKEY Growth	-	-0.15%	-37.96%	-20.24%	-80.90%
UKRAINE	36M	43M	26M	22M	45M
UKRAINE Growth	-	19.44%	-39.53%	-15.38%	104.55%
TAIWAN, PROVINCE OF CHINA	23M	26M	36M	26M	33M
TAIWAN, PROVINCE OF CHINA Growth	-	13.04%	38.46%	-27.78%	26.92%
JAPAN	36M	31M	29M	25M	30M
JAPAN Growth	-	-13.89%	-6.45%	-13.79%	20.00%
CHINA	37M	35M	26M	26M	30M
CHINA Growth	-	-5.41%	-25.71%	0.00%	15.38%
AUSTRIA	-	-	-	-	19M
AUSTRIA Growth	-	-	-	-	-
BRAZIL	35M	43M	30M	13M	17M
BRAZIL Growth	-	22.86%	-30.23%	-56.67%	30.77%
PORTUGAL	18M	18M	16M	15M	15M
PORTUGAL Growth	-	0.00%	-11.11%	-6.25%	0.00%
SLOVAKIA	14M	14M	18M	15M	15M
SLOVAKIA Growth	-	0.00%	28.57%	-16.67%	0.00%
PHILIPPINES	17M	25M	13M	6M	10M
PHILIPPINES Growth	-	47.06%	-48.00%	-53.85%	66.67%
INDONESIA	-	-	-	-	-
INDONESIA Growth	-	-	-	-	-
CANADA	3M	3M	3M	-	-
CANADA Growth	-	0.00%	0.00%	-	-
MACAO	-	-	-	-	-
MACAO Growth	-	-	-	-	-
MALAYSIA	1M	1M	1M	-	-
MALAYSIA Growth	-	0.00%	0.00%	-	-
MAURITIUS	1M	-	-	-	-
MAURITIUS Growth	-	-	-	-	-
MEXICO	1M	1M	1M	1M	-
MEXICO Growth	-	0.00%	0.00%	0.00%	-
SRI LANKA	-	-	-	-	-
SRI LANKA Growth	-	-	-	-	-
UNITED ARAB EMIRATES	-	-1M	-	-	-1M
UNITED ARAB EMIRATES Growth	-	-	-	-	-
Austria	85M	80M	75M	175M	-
Austria Growth	-	-5.88%	-6.25%	133.33%	-
CZECH REPUBLIC	106M	88M	146M	100M	-
CZECH REPUBLIC Growth	-	-16.98%	65.91%	-31.51%	-
COLOMBIA	1M	1M	1M	-	-
COLOMBIA Growth	-	0.00%	0.00%	-	-
Macau	-	-	-	-	-
Macau Growth	-	-	-	-	-
INDIA	-	-	-	-	-
INDIA Growth	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

ING Groep N.V. (ING) has a price-to-earnings (P/E) ratio of 17.5x. This is roughly in line with market averages.

Growth & Financials

ING Groep N.V. (ING) grew revenue by 13.8% over the past year. This is steady growth.

Yes, ING Groep N.V. (ING) is profitable, generating $6.16B in net income for fiscal year 2024 (26.6% net margin).

Dividend & Returns

Yes, ING Groep N.V. (ING) pays a dividend with a yield of 4.24%. This makes it attractive for income-focused investors.

ING Groep N.V. (ING) has a return on equity (ROE) of 10.3%. This is reasonable for most industries.

Industry Metrics

ING Groep N.V. (ING) has a net interest margin (NIM) of 1.5%. NIM has been under pressure due to interest rate environment.

ING Groep N.V. (ING) has an efficiency ratio of 38.0%. This is excellent, indicating strong cost control.

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