ING Groep N.V. - ADR

Strong Commercial Growth: ING reported over 1 million new mobile primary customers added in 2025, with 8.3% growth in loans year-over-year (YOY). Retail Banking contributed EUR 10.1 billion in net lending, primarily driven by residential mortgages, while Wholesale Banking added EUR 10.3 billion in lending, reflecting strong client demand for working capital solutions.

Record Financial Performance: Total income reached a record high, up 7% YoY, totaling EUR 24 billion for 2026. Commercial Net Interest Income (NII) was EUR 15.3 billion, supported by increased customer balances and a solid returns on equity of 13.2% in 2025.

Positive Cost Management: The bank achieved operational efficiencies through technology investments and effective cost discipline, maintaining a competitive cost-to-income ratio. Expenses excluding incidentals are projected to be between EUR 11.6 billion to EUR 11.8 billion, with a modest positive jaw expected for 2026 and 2027.