ING Group reported a net result of €1,787 million for the third quarter of 2025, driven by increases in both fee income and customer lending. The bank highlighted progress towards its financial targets for 2027.
Steven van Rijswijk, CEO of ING, commented on the results: “ING has had a strong third quarter of 2025 as we continued to execute our strategy to accelerate growth, increase our impact and deliver customer value, and we are on track to reach our financial targets for 2027. While macroeconomic and geopolitical uncertainty remains prevalent, a growing number of customers continue to place their trust in us. Customer lending has increased and fee income has grown at a strong pace. Commercial net interest income has increased quarter-on-quarter, supported by higher business volume."
Van Rijswijk noted that retail banking saw an addition of nearly 200,000 mobile primary customers during the quarter and 1.1 million year-on-year—an 8% rise that aligns with ING’s annual growth target. He added: "Growth has been particularly strong in Germany, Spain, Italy and Romania. Retail lending has grown by €8.6 billion, mainly in mortgages. In Business Banking, lending volumes were stable, with increases in the Netherlands and Poland offset by a decline in Belgium. Retail fee income has risen 14% year-on-year, mainly from investment products as more customers started investing with us. Following significant inflows in previous quarters, deposits have decreased, reflecting seasonal impacts and the conclusion of successful campaigns in Germany and Belgium, with part of these funds moving into investment products."
In wholesale banking operations, corporate loan demand contributed to €5.7 billion growth in lending and a 19% increase in fee income compared to last year. Van Rijswijk said: "Financial Markets income has also improved, and Trade Finance Services and Working Capital Solutions continued to perform well too. Deposits have grown strongly by €7 billion, reflecting growth in volumes in Payments & Cash Management, Financial Markets and in our cash pooling business."
The CEO also addressed sustainability efforts: "During the quarter we published our Climate Update, which details our ongoing efforts to help accelerate the transition to a low-carbon economy. In the first nine months of 2025, amid more volatile market circumstances, we increased our sustainable volume mobilised by 29% year-on-year to €110 billion, as we continued to support our clients in their sustainable transitions."
Expenses rose over the past year due primarily to wage inflation and investments aimed at business expansion as well as digital improvements; however expenses declined compared with the previous quarter because of lower restructuring costs within Wholesale Banking.
Risk costs remained below ING’s average through-the-cycle levels while return on equity averaged 12.6% over four quarters.
Van Rijswijk announced an adjustment to ING's CET1 capital ratio target: “We have adjusted our CET1 capital ratio target to ~13% to cater for higher (expected) capital requirements. Operating at the right level of capital is in the best interest of all our stakeholders including our customers and the economies where we do business." After completing its share buyback programme announced earlier this year,"we today announce a distribution of €1.6 billion.”
He concluded: “We are pleased with another set of strong results that show continued growth in our business. We appreciate the ongoing trust our customers and clients place in us as well as the continued commitment demonstrated by our employees.”