ING · ING Groep N.V.

ING’s Q1 2026 results reflect operational strength and disciplined execution amid persistent macroeconomic headwinds, including energy-security risks in the Middle East. Total income rose 3.3% year-on-year to €5,823 million, underpinned by €4,060 million in commercial net interest income — up 7.0% YoY — driven by €15.0 billion net core lending growth (€9.4 billion Retail, €5.6 billion Wholesale) and a stable 2.26% commercial net interest margin. Fee income surged 13% YoY to €1,236 million, fueled by expanded investment product adoption in Retail Banking and robust deal flow in Wholesale Banking’s Lending, Trade Finance Services, and Corporate Finance. While other income declined due to Treasury-related volatility following regional conflict, operating expenses remained broadly flat YoY at €3,219 million, aided by disciplined cost management. Risk costs stayed prudent at 19 bps, below the through-the-cycle average, as repayments offset a war-related management overlay. The CET1 ratio held at 13.0% — within ING’s targeted range — supporting the announced €1.0 billion share buyback. Management reaffirmed confidence in achieving its upgraded full-year outlook, citing mobile primary customer growth (+125,000), rising AUM in Private Banking (+15% YoY to €281 billion), and €34 billion in sustainable volume mobilised (+11% YoY). These outcomes underscore ING’s resilient business model, scalable digital infrastructure, and strategic focus on sustainable finance and client-centric innovation.