ING 2016 underlying net profit EUR 4,976 million; FY 2016 dividend of EUR 0.66 per ordinary share
02 Février 2017 - 07:01AM
ING records
robust commercial growth in 2016 while achieving a number one NPS
score in 7 of 13 retail markets |
· |
ING gained over 1.4
million new retail customers and grew primary relationships by 8.1%
to 9.7 million |
· |
Business growth was robust
in 2016 with EUR 34.8 billion net core lending growth and EUR 28.5
billion net customer deposit inflow |
|
ING Bank
full-year 2016 underlying net profit of EUR 4,976 million, up 17.9%
from full-year 2015 |
· |
Strong full-year 2016
results reflect robust commercial growth at resilient margins and a
continued decline in risk costs |
· |
4Q16 underlying result
before tax was EUR 1,955 million as income grew in line with higher
business volumes |
|
ING Group
fully-loaded CET1 ratio strengthened to 14.2%; Board proposes
full-year 2016 dividend of EUR 0.66 per share |
· |
ING proposes to pay final
cash dividend of EUR 0.42 per ordinary share, following August 2016
interim cash dividend of EUR 0.24 |
|
CEO
statement"ING has made significant progress in accelerating our
Think Forward strategy, while consistently delivering on our
customer promise," said Ralph Hamers, CEO of ING Group. "Our
success in providing an exceptional banking experience is evident
in the strong set of commercial and financial results that we
posted for both the fourth quarter of 2016 and for the full year."
"In 2016, we introduced a steady wave of insightful
financial tools to make banking easier and more accessible for
customers, who are increasingly digital and self-directed. We also
expanded the breadth of our innovation capabilities through ongoing
internal eff orts and by nurturing more than 70 active fintech
partnerships. These and other initiatives supported customers'
needs and drove our robust commercial growth, while underscoring
our track record as a leader in digital banking." "ING
attracted 1.4 million new retail customers over the course of 2016,
bringing our global customer base to 35.8 million. Of this total,
9.7 million are primary bank customers, which is an increase of
8.1% year-on-year. Our most recent Net Promoter Scores rank ING
Bank as number one relative to competitors in seven of our 13
retail markets. These achievements reflect the hard work and focus
of our employees to deliver a differentiating customer experience,
each and every day." "Business growth was robust across ING
Bank in 2016, with net customer deposits increasing by EUR 28.5
billion, or 5.6%. We realised net growth in core lending of EUR
34.8 billion, which represents a 6.5% rise year-on-year. We also
continued to support the transition to a greener economy, and our
financing of sustainable projects and clients that are
environmental outperformers rose to EUR 34.3 billion at year-end."
"For the full-year 2016, ING Bank recorded an underlying net
profit of EUR 4,976 million, up 17.9% from 2015. This strong
performance was driven by robust commercial growth at resilient
margins and declining risk costs, and was achieved despite higher
regulatory costs. ING Bank's full-year underlying return on equity
rose to 11.6% from 10.8% in 2015. In the fourth quarter of 2016,
the underlying result before tax of ING Bank was EUR 1,955 million,
reflecting continued positive momentum in both Retail and Wholesale
Banking. Income grew both year-on-year and sequentially in line
with volume growth, while expenses and risk costs both declined
year-on-year." "ING Group's 2016 net result was EUR 4,651
million, or 16.0% higher than in 2015, including EUR -787 million
of restructuring charges and impairments as announced on 3 October
(recorded as special items after tax) and the EUR 474 million net
result of the legacy Insurance business. The full-year 2016
underlying return on ING Group's IFRS-EU equity rose to 10.1% and
ING Group's fully-loaded CET1 ratio strengthened to 14.2% at
year-end 2016. We are comfortably ahead of prevailing fully-loaded
requirements and well positioned for future regulatory
uncertainties. We are pleased to propose a full-year 2016 cash
dividend of EUR 0.66 per share, comprising the August 2016 interim
dividend of EUR 0.24 and a final dividend of EUR 0.42 per share."
"In the past year, ING took important steps to start a path
of convergence towards one digital banking platform, which will
enable us to keep getting better in the face of changing customer
behaviour and industry dynamics. I am convinced that the
acceleration of our Think Forward strategy will allow us to build
on our position of strength for the benefit of our customers." |
|
Further
informationAll publications related to ING's 2016 Full Year and
Fourth Quarter results can be found at www.ing.com/4q16, including
a video with Ralph Hamers, which is also available at YouTube.
Additional financial information is available at
www.ing.com/qr:- ING Group historical trend data - ING Group
analyst presentation (also available via SlideShare) For
further information on ING, please visit www.ing.com.
Frequent news updates can be found in the Newsroom or via the
@ING_news Twitter feed. Photos of ING operations, buildings and its
executives are available for download at Flickr. Video is available
on YouTube. Footage (B-roll) of ING is available via
videobankonline.com, or can be requested by emailing
info@videobankonline.com. ING presentations are available at
SlideShare. |
|
Investor
conference call, Media meeting and webcasts Ralph Hamers,
Patrick Flynn and Wilfred Nagel will discuss the results in an
Investor conference call on 2 February 2017 at 9:00 a.m. CET.
Members of the investment community can join the conference call at
+31 20 703 8261 (NL), +44 330 336 9411 (UK) or +1 719 325 2202 (US)
and via live audio webcast at www.ing.com. Ralph Hamers,
Patrick Flynn and Wilfred Nagel will also discuss the results in a
media meeting on 2 February 2017 at 11:00 a.m. CET. Journalists are
welcome at ING Amsterdamse Poort, Bijlmerplein 888, Amsterdam.
Alternatively, they can dial-in in listen-only mode via
+31 20 531 5871 (NL) or
+44 203 365 3210 (UK). The Media meeting can also be
followed via live audio webcast at www.ing.com. |
|
Investor
enquiriesT: +31 20 576 6396E: investor.relations@ing.com
Press enquiriesT: +31 20 576 5000E:
media.relations@ing.com |
|
ING
PROFILEING is a global financial institution with a strong European
base, offering banking services through its operating company ING
Bank. The purpose of ING Bank is empowering people to stay a step
ahead in life and in business. ING Bank's 52,000 employees offer
retail and wholesale banking services to customers in over 40
countries. ING Group shares are listed on the exchanges of
Amsterdam (INGA NA, INGA.AS), Brussels and on the New York Stock
Exchange (ADRs: ING US, ING.N). Sustainability forms an
integral part of ING's strategy, which is evidenced by the number
one position among 395 banks ranked by Sustainalytics. ING Group
shares are being included in the FTSE4Good index and in the Dow
Jones Sustainability Index (Europe and World) where ING is among
the leaders in the Banks industry group. |
|
IMPORTANT
LEGAL INFORMATIONElements of this press release contain or may
contain information about ING Groep N.V. and/or ING Bank N.V.
within the meaning of Article 7(1) to (4) of EU Regulation No 596/
2014. Projects may be subject to regulatory approvals.
Insofar as they could have an impact in Belgium, all projects
described are proposed intentions of the bank. No formal decisions
will be taken until the information and consultation phases with
the Work Council have been properly finalised. ING Group's
annual accounts are prepared in accordance with International
Financial Reporting Standards as adopted by the European Union
('IFRS-EU'). In preparing the financial information in this
document, except as described otherwise, the same accounting
principles are applied as in the 2015 ING Group consolidated annual
accounts. The Financial statements for 2016 are in progress and may
be subject to adjustments from subsequent events. All figures in
this document are unaudited. Small differences are possible in the
tables due to rounding. Certain of the statements contained
herein are not historical facts, including, without limitation,
certain statements made of future expectations and other
forward-looking statements that are based on management's current
views and assumptions and involve known and unknown risks and
uncertainties that could cause actual results, performance or
events to differ materially from those expressed or implied in such
statements. Actual results, performance or events may differ
materially from those in such statements due to, without
limitation: (1) changes in general economic conditions, in
particular economic conditions in ING's core markets, (2) changes
in performance of financial markets, including developing markets,
(3) consequences of a potential (partial) break-up of the euro, (4)
potential consequences of European Union countries leaving the
European Union, (5) changes in the availability of, and costs
associated with, sources of liquidity such as interbank funding, as
well as conditions in the credit markets generally, including
changes in borrower and counterparty creditworthiness, (6) changes
affecting interest rate levels, (7) changes affecting currency
exchange rates, (8) changes in investor and customer behaviour, (9)
changes in general competitive factors, (10) changes in laws and
regulations, (11) changes in the policies of governments and/or
regulatory authorities, (12) conclusions with regard to purchase
accounting assumptions and methodologies, (13) changes in ownership
that could affect the future availability to us of net operating
loss, net capital and built-in loss carry forwards, (14) changes in
credit ratings, (15) ING's ability to achieve projected operational
synergies and (16) the other risks and uncertainties detailed in
the most recent annual report of ING Groep N.V. (including the Risk
Factors contained therein) and ING's more recent disclosures,
including press releases, which are available on www.ING.com. Any
forward looking statements made by or on behalf of ING speak only
as of the date they are made, and, ING assumes no obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information or for any other reason. This
document does not constitute an offer to sell, or a solicitation of
an offer to purchase, any securities in the United States or any
other jurisdiction. |
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