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ING posts 1Q19 net result of €1,119 million

ING Group maintains good commercial momentum, while continuing know your customer (KYC) enhancement programme. Retail primary customer relationships rose by 150,000 to reach 12.6 million

Net core lending increased by €8.7 billion in 1Q19; net customer deposit inflow amounted to €4.8 billion. ING 1Q19 underlying pre-tax result is €1,582 million. The results reflect continued business growth at resilient margins, solid fee income and good cost control. Four-quarter rolling underlying ROE was 11.0% and the ING Group CET1 ratio increased to 14.7%. 

 

“We’ve had a positive start to the year, with first-quarter results that show good commercial momentum,” said Ralph Hamers, CEO of ING Group. “Our global primary customer base grew by 150,000 to 12.6 million and our most recent net promoter scores among customers rank us first in six of our 13 retail markets. We recorded €8.7 billion of net core lending growth. Our first-quarter underlying pre-tax result declined 6.2% to €1,582 million compared to the first quarter of 2018. Income grew both year on year and sequentially and we see the positive results of our transformation programme coming through, especially in the Netherlands and Belgium. However, this was off set by higher but still relatively low risk costs, and pressure from low interest rates in our main eurozone markets.

 

Read more about ING Group 1Q19 results at the ING.com

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