ING Groep N.V. provides a range of banking products and services across the Netherlands, Belgium, Germany, the rest of Europe, and internationally. It operates through five segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking. Its offerings include current and savings accounts, time deposits, business and SME lending, consumer lending such as residential mortgages, working capital and debt and equity market solutions, payments, cash management, trade and corporate finance, treasury services, and savings, investment, insurance, and digital banking services. The company serves individual customers, corporate clients, and financial institutions, and was founded in 1762 with headquarters in Amsterdam, the Netherlands.
ING's profit rises, fees grow, and new deals expand its reach
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Subscription banking model ING launched subscription-based banking in the Netherlands, bundling services for monthly fees. This diversifies income away from interest rates and aims to grow fee revenue, which supports the stock by making earnings steadier.
New strategy directly addresses revenue diversification and future fee growth.
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Strong Q2 earnings and upgraded outlook ING reported €1.95 billion net profit for Q2, with fee income up 14% and customer growth. It raised its 2026 and 2027 outlook and will pay a dividend. This shows the bank is performing well and returning cash to shareholders.
Latest earnings confirm financial health and improved future guidance.
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Agentic payment readiness ING executed a live AI-agent payment in Germany with Visa and Worldline, showing it can handle automated transactions. This positions ING for future commerce trends, potentially attracting tech-savvy customers and new revenue streams.
New technology milestone that could drive future transaction volume and innovation.
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TTB stake sale and climate collateral rule ING is selling part of its TTB bank stake at a discount, which pressures TTB shares but frees capital for ING. Meanwhile, ECB climate rules may impose collateral haircuts, a regulatory risk. Both are manageable but add uncertainty.
Two separate events that could affect ING's capital and regulatory costs.
Q3 2026
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ING's profit rises, fees grow, and new deals expand its reach
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Subscription banking model ING launched subscription-based banking in the Netherlands, bundling services for monthly fees. This diversifies income away from interest rates and aims to grow fee revenue, which supports the stock by making earnings steadier.
New strategy directly addresses revenue diversification and future fee growth.
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Strong Q2 earnings and upgraded outlook ING reported €1.95 billion net profit for Q2, with fee income up 14% and customer growth. It raised its 2026 and 2027 outlook and will pay a dividend. This shows the bank is performing well and returning cash to shareholders.
Latest earnings confirm financial health and improved future guidance.
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Agentic payment readiness ING executed a live AI-agent payment in Germany with Visa and Worldline, showing it can handle automated transactions. This positions ING for future commerce trends, potentially attracting tech-savvy customers and new revenue streams.
New technology milestone that could drive future transaction volume and innovation.
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TTB stake sale and climate collateral rule ING is selling part of its TTB bank stake at a discount, which pressures TTB shares but frees capital for ING. Meanwhile, ECB climate rules may impose collateral haircuts, a regulatory risk. Both are manageable but add uncertainty.
Two separate events that could affect ING's capital and regulatory costs.
News & notes movingING
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ING
Pound Slips as Global Bond Rout Lifts Dollar, UK 30-Year Gilt Yields Hit 6%
Sterling traded lower on Thursday, with GBP/USD down 0.38% at $1.3215, as a global bond sell-off pushed U.S. and UK long-dated yields to multi-decade highs and kept the dollar near its strongest levels of the year. The U.S. 10-year yield rose to 5.340%, near a 52-week high, and the dollar index tested the year's high at 101.80, while EUR/USD fell 0.37% to $1.1288. UK 30-year gilt yields rose to 6%, the highest since nearly three decades, and London's FTSE 100 fell nearly 2%, adding pressure on Chancellor John Healey ahead of his first Budget this month. Softer-than-expected August PCE inflation barely dented rate expectations, and ADP data pointed to accelerating payrolls, with investors awaiting jobless claims and ISM manufacturing, where a headline of 55 is expected. ING's Chris Turner said the dollar will likely stay bid in October, and ING expects DXY at 101.50-101.80 today, with an upside breakout possible on strong payrolls or if European debt weakness weighs on the euro.
GB-30Y.GB · Monetary · Positive UK 30-year gilt yields hit 6%, highest in nearly three decades, as global bond rout lifts long-dated yields.
GBPUSD.FOREX · Monetary · Negative Sterling slipped as global bond rout and strong dollar kept GBP under pressure.
US-10Y.GB · Monetary · Positive US 10-year yield rose to 5.340%, near a 52-week high, amid global bond sell-off and firm rate expectations.
ING · Monetary · Neutral ING's Chris Turner is quoted on dollar outlook and DXY range; ING only appears as a commentator, no company-specific development.
ING Repurchases 1.3 Million Shares in Latest Buyback Week
ING Group repurchased 1,300,000 shares during the week of 21 September up to and including 25 September 2026, as part of its €1.0 billion share buyback programme announced on 30 April 2026. The shares were bought at an average price of €31.93, for a total amount of €41,509,042.50. Under the programme, which aims to reduce ING's share capital, the total number of shares repurchased to date is 28,960,805 at an average price of €28.33, for a total consideration of €820,511,910.49. That means approximately 82.05% of the maximum total value of the buyback programme has been completed so far.
Six Global Banks Publish Agentic Commerce Trust Framework
A consortium of six global banks—ASB, Bank of America, Capital One, Commonwealth Bank of Australia, ING, and NatWest—released a document titled Building Trust in Agentic Commerce on September 22, 2026, setting out voluntary governance principles for AI-agent-driven transactions ahead of formal regulation. The paper outlines five pillars: Transparency, Safety, Privacy and data, Choice, and Interoperability, and suggests liability should reflect where risks or errors are introduced. The banks are responding to a market where 89% of merchants are preparing for agentic commerce but only 3% of transactions involve AI agents, with consumer trust at 24%. Mark Monaco, Head of Global Payments Solutions at Bank of America, said establishing trust and confidence across the ecosystem will be critical to its long-term success. The principles carry no implementation timetable, and the consortium plans a follow-up paper on implementation while the industry awaits the NIST AI Agent Interoperability Profile, expected in Q4 2026.
Artificial Intelligence › Agentic AI & Autonomous Workflows ▲Regulation
Digital Finance & Tokenization › Payments Modernization & Rails Regulation
BAC · Regulation · Positive Bank of America is a named consortium member publishing voluntary governance principles for AI-agent commerce ahead of formal regulation.
COF · Regulation · Positive Capital One is a named consortium member releasing the agentic commerce trust framework.
ING · Regulation · Positive ING is a member of the consortium that published the agentic commerce trust framework.
INGA.AS · Regulation · Positive ING is a named consortium member publishing the Building Trust in Agentic Commerce framework.
NWG.LSE · Regulation · Positive NatWest is a named consortium member behind the voluntary agentic commerce governance principles.
Commonwealth Bank of Australia · Regulation · Positive Commonwealth Bank of Australia is a named consortium member issuing the agentic commerce trust principles.
Banks Warn AI Shopping Agents Outpace Fraud Protections
A coalition of major banks warned on Tuesday that AI-powered shopping agents are creating new risks for consumers around scams, fraud, and data privacy, and that the technology is moving faster than existing industry standards and consumer protections can keep pace. The group includes NatWest, Bank of America, ING, Capital One, New Zealand's ASB Bank, and Commonwealth Bank of Australia, and it published a report laying out principles for how agentic commerce, in which AI tools select and purchase goods on a shopper's behalf, should be developed. The report flagged vulnerabilities including AI agents that collect card details from customers and submit them on third-party sites, the risk that agents might favor payment options with fewer consumer safeguards, and the possibility that bad actors could impersonate AI agents and merchants or deploy new social engineering methods. The banks said they plan to bring several proposals to policymakers, including mandating that consumers be told when an AI agent is part of a transaction, clearer insight into how those agents reach decisions, and measures to keep customer data secure. The warning comes as OpenAI, Anthropic, Google, and Meta promote AI chatbots as shopping tools, and British retailer John Lewis said searches from AI agents had risen to 2.5% of its total from 0.3% a year earlier.
Artificial Intelligence › Agentic AI & Autonomous Workflows ▼Regulation
Digital Finance & Tokenization › Payments Modernization & Rails Technology
Cybersecurity & Digital Trust › AI Security & Agent Guardrails ▼Technology
Artificial Intelligence › AI Applications & Copilots Regulation
BAC · Regulation · Negative Bank of America is part of the bank coalition warning that AI shopping agents outpace fraud protections and pushing for new consumer-protection rules.
COF · Regulation · Negative Capital One joined the coalition flagging fraud, scam, and data-privacy risks from AI shopping agents and proposing regulatory safeguards.
INGA.AS · Regulation · Negative ING is part of the coalition raising fraud and data-privacy concerns over AI shopping agents and proposing new rules for policymakers.
NWG.LSE · Regulation · Negative NatWest is a member of the bank group warning that agentic commerce is outpacing existing consumer protections and calling for policy measures.
Commonwealth Bank of Australia · Regulation · Negative Commonwealth Bank of Australia is among the banks warning that AI shopping agents create new fraud and privacy risks beyond current protections.
ING · Regulation · Neutral ING is part of the bank group warning that AI shopping agents outpace fraud protections and proposing new standards.
ING Keeps EUR/USD Year-End Target at 1.160 Despite Expected ECB December Hike
ING is holding its EUR/USD profile unchanged with a 1.160 year-end target even as it now expects an additional European Central Bank hike in December, according to Francesco Pesole of the bank. Pesole said downside risks for the euro persist despite the December hike call and the political noise in Germany. The 1.160 year-end target remains ING's standing forecast for the currency pair.
EURUSD.FOREX · Monetary · Negative ING keeps EUR/USD year-end target at 1.160 while expecting an extra ECB December hike, but flags persistent euro downside risks.
INGA.AS · Capital · Neutral ING's FX strategist reiterates the bank's EUR/USD forecast and ECB hike call; no direct financial impact on ING itself.
ING · Monetary · Neutral ING is the source of the EUR/USD forecast and ECB hike call, but the news is about its FX view, not its own business.
Europe Runs Live Agent Payments Across 30+ Banks as US Stalls on Liability
Europe has moved agentic payments into live production while the United States remains stalled over who bears the loss when an AI agent errs. Live end-to-end payments have been executed by Santander, Mastercard, ING, and Worldline, and on July 2, 2026, ING, Worldline, and Visa completed an agentic payment in Germany using Visa Payment Passkeys for biometric authentication. Mastercard has enabled all issuers in Europe at the network level for Agent Pay, backed by a new Lisbon Centre of Excellence for Innovation, with Mastercard Europe President Kelly Devine calling agentic payments a profound shift in how commerce is initiated and executed. In the US, the Treasury OIG has flagged ambiguity in Regulation E on agent authorization, and the AI AGENT Act introduced in July 2026 addresses fiduciary duties rather than liability allocation for agent misexecution, prompting the Consumer Bankers Association to recommend the industry write its own private network rules. Hypertrade data shows a 4,700% year-over-year increase in AI-generated traffic to retail sites, yet agentic commerce is less than 1% of US e-commerce, with only 23% of US consumers trusting generative AI to handle payment transactions and 93% of merchants saying the AI provider should bear the financial loss for incorrect purchases.
ING to Redeem USD 1,500 Million Perpetual Capital Securities in November 2026
ING announced it will redeem USD 1,500 million of 5.750% Perpetual Additional Tier 1 Contingent Convertible Capital Securities on the call date of 16 November 2026, in line with the group's goal to continuously optimise its capital structure. The securities, identified by CUSIP 456837AR4 and ISIN US456837AR44, will be redeemed in full in accordance with their terms, with payment to be made on 16 November 2026. The redemption price will be the principal amount of the Perpetual Capital Securities, and accrued and unpaid interest due on the redemption date will be paid in the usual manner to holders of record as of 13 November 2026. The Bank of New York Mellon, London Branch is the paying agent for the securities. ING said any future decisions on whether to exercise calls on some or all of any series of its then outstanding debt securities will be made on an economic basis, taking into account the interests of all stakeholders, along with prevailing market conditions, regulatory approval and capital requirements.
INGA.AS · Capital · Neutral ING redeems USD 1.5bn perpetual AT1 securities to optimise its capital structure
ING · Capital · Neutral ING redeems USD 1.5bn perpetual AT1 securities to optimise its capital structure — a capital-structure event with no clear positive or negative direction.
ING Repurchases 1.38 Million Shares in Weekly Buyback Progress
ING Group repurchased 1,380,000 shares during the week of 7 September up to and including 11 September 2026, as part of its €1.0 billion share buyback programme announced on 30 April 2026. The shares were bought at an average price of €31.82, for a total amount of €43,905,995.00. Under the programme, which aims to reduce ING's share capital, the total number of shares repurchased to date is 26,310,805 at an average price of €27.97, for a total consideration of €735,916,667.99. That represents approximately 73.59% of the maximum total value of the buyback programme.
Zankore Raises $3.1 Billion with Nvidia Sharing Credit Risk
Zankore, an Indonesian AI infrastructure platform backed by Nvidia, has signed a $3.1 billion loan to purchase Nvidia GPUs, marking one of Asia's largest AI infrastructure financings. The loan was underwritten by Citigroup, ING, Natixis, Qatar National Bank, and United Overseas Bank, with Citigroup serving as sole debt adviser. The funds will finance an AI factory that starts at 100 megawatts and is designed to expand to 1 gigawatt. Nvidia attached a revenue-sharing and credit-support arrangement to the deal, helping make it financeable, according to Zankore chairman Vikram Sinha. This model, introduced by Nvidia in July, aims to broaden access to data center infrastructure for smaller AI players.
European banks urge ECB to disclose Climate Factor formula amid risk of collateral haircuts
The European Central Bank (ECB) is facing pressure from the banking sector to disclose its climate risk calculation formula, known as the Climate Factor, after expanding its use from corporate bonds to credit claims, which account for nearly 30% of all collateral in the euro system. This could lead to banks facing additional haircuts of up to 5% on their collateral. The measure is set to take effect at the end of next year. Denisa Avermaete, head of sustainable finance at the European Banking Federation, said the expansion is important but should be carried out transparently, given uncertainties about the calculation. Meanwhile, the ECB clarified that its main purpose is to protect its own balance sheet, not to conduct monetary policy, and it will not disclose data for individual credit claims to the public. BBVA and ING Group stated that the ECB's approach aligns with their own risk assessment methods but acknowledged that there could be significant differences in weighting. Frédéric Ducoulombier from the EDHEC Climate Institute believes that transparency would allow the market to scrutinize the relationship between risk scores and financial sensitivity, and the ECB may not disclose more information without sustained pressure.
BBVA · Regulation · Neutral BBVA says the ECB's Climate Factor approach aligns with its own risk methods but notes possible significant weighting differences; the collateral haircut risk is a regulatory development affecting it.
ING · Regulation · Neutral ING Group says the ECB's Climate Factor approach aligns with its own risk assessment but acknowledges possible significant differences in weighting; potential haircuts are a regulatory risk.
APRA imposes A$50M capital add-on on ING Australia
Australia's prudential regulator has imposed additional capital and liquidity requirements on ING Bank after the bank overstated its liquidity position for several years and at times breached minimum liquidity requirements. The Australian Prudential Regulation Authority ordered ING Australia to maintain an additional A$50 million operational-risk capital buffer and increased its minimum liquidity requirements. ING Australia had reported a liquidity coverage ratio of around 160 percent but later found it was substantially lower and at times fell below the 100 percent regulatory minimum. APRA also required ING to conduct independent reviews of its liquidity-reporting failures and risk-management practices and implement a remediation plan. ING has since raised its liquidity above regulatory minimums, with the additional requirements remaining until APRA is satisfied with the bank's remediation.
ING · Regulation · Negative APRA imposed an A$50M operational-risk capital add-on and higher liquidity requirements on ING Australia over liquidity-reporting failures.
INGA.AS · Regulation · Negative APRA imposed an A$50M operational-risk capital add-on and higher liquidity requirements on ING Australia over overstated liquidity and breaches of minimums.
Construction starts on 347MWdc SunRoper Solar project in Texas
Construction has commenced on the 347MWdc SunRoper Solar project in Wharton County, Texas, following a groundbreaking ceremony. The project, a joint venture between OCI Energy and Arava Power, is expected to begin operations in December 2027 and will supply electricity to a Fortune 100 company under a long-term power purchase agreement. The total investment is projected at approximately $394 million, with ING providing construction financing including a construction-to-term loan, a tax equity bridge loan, and letters of credit. ING serves as sole coordinating lead arranger, sole green loan coordinator, sole bookrunner, and administrative agent. The construction contract has been awarded to WHC, and once operational, the project will add generation capacity to the Electric Reliability Council of Texas market, supporting rising power demand near the Houston metropolitan area.
ING · Capital · Positive ING provides construction financing (construction-to-term loan, tax equity bridge loan, letters of credit) and serves as sole coordinating lead arranger for the $394M SunRoper Solar project.
INGA.AS · Capital · Positive ING provides construction financing (construction-to-term loan, tax equity bridge loan, letters of credit) and serves as sole coordinating lead arranger/bookrunner for the $394M SunRoper project.
Arava Power Company · Capital · Positive Arava Power is a joint-venture partner on the SunRoper Solar project, a ~$394M investment.
OCI Energy · Capital · Positive OCI Energy is a joint-venture partner developing the 347MWdc SunRoper Solar project with ~$394M total investment.
WHC Energy Services · Demand · Positive WHC was awarded the construction contract for the SunRoper Solar project.
ING Supervisory Board member Alexandra Reich to resign
ING announced that Alexandra Reich will resign from its Supervisory Board effective 1 September 2026. Reich, who was appointed at the April 2023 annual general meeting, currently serves on the Risk Committee, the ESG Committee, and the Technology and Operations Committee. Chairman Karl Guha said the board understands her decision to step down and thanked her for her contributions, wishing her all the best for the future.
Bualuang Securities recommends selling TTB shares after ING prepares Big Lot sale
Shares of TMBThanachart Bank, or TTB, are under heavy pressure after reports that ING Group is preparing to sell a Big Lot of 6.1 billion shares, equivalent to 6.3% of total shares, worth about 500 million US dollars. The offering price range has been set at 2.64 to 2.70 baht per share, a discount of about 7% to 9% from the previous closing price. After the sale, ING will still hold about 11 billion TTB shares, or 11.2% of all shares, with a 90-day lock-up restriction on further sales. Analysts at Bualuang Securities said the Big Lot sale price below the board price will pressure the share price in the short term, and they estimate TTB's net profit in 2027 will fall 10% from the previous year due to reduced tax benefits. Meanwhile, the 2027 price-to-book value ratio relative to return on equity is 0.145 times, higher than the banking group average of 0.118 times, so they have downgraded their recommendation to sell TTB shares. This morning the share price fell 3.45% to 2.80 baht.
TTB.BK · Capital · Negative ING's Big Lot sale at a discount pressures TTB's share price, and analysts downgrade to sell due to reduced tax benefits and higher valuation.
ING · Capital · Neutral ING is selling a 6.1bn-share Big Lot in TTB at a 7-9% discount, a portfolio divestment that is the subject of the report.
ING announced a reduction of its stake in TMBThanachart Bank through a private placement of shares with institutional investors. Upon settlement, the transaction is expected to reduce ING's stake in TTB from 19.5% to 11.6%, excluding shares held in treasury by TTB. Gross proceeds to ING from the transaction amount to approximately €475 million based on current exchange rates. The transaction is expected to have a small positive impact on ING's profit and loss account and CET1 ratio. Settlement of the transaction is expected on 21 August 2026.
ING · Capital · Positive ING reduces its TTB stake via private placement for ~€475M gross proceeds, expected to have a small positive impact on P&L and CET1 ratio.
INGA.AS · Capital · Positive ING sells stake, gains €475M, small positive impact on P&L and CET1 ratio.
ING repurchases 975,000 shares in latest buyback week
ING announced that as part of its €1.0 billion share buyback programme announced on 30 April 2026, it repurchased 975,000 shares during the week of 10 August up to and including 14 August 2026. The shares were repurchased at an average price of €30.80 for a total amount of €30,026,900.00. To date, the total number of shares repurchased under this programme is 20,740,193 at an average price of €27.21 for a total consideration of €564,312,289.83, representing approximately 56.43% of the maximum total value of the programme.
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Digital Finance & Tokenization▲
Visa Agentic Ready Program Moves Issuer Readiness to Production
Visa's Agentic Ready certification program is shifting the focus of agentic commerce from theory to production by standardizing how banks handle agent-initiated transactions. The July 2, 2026 live agentic payment in Germany, executed by Worldline, ING, and Visa, proved that existing payment rails are not the bottleneck, with Paymentology CTO Tim Joslyn estimating 99% of issuer processing systems could technically process an agentic payment. Visa has rolled out Agentic Ready across Europe, Asia Pacific, Latin America, Canada, and CEMEA, with over 85 partners in Asia Pacific and Latin America, major Canadian banks including BMO, CIBC, RBC, Scotiabank, and TD, and more than 30 CEMEA partners such as Emirates NBD, Mashreq, Qatar National Bank, and Discovery Bank. In contrast, Mastercard is pursuing a sandbox approach with its Proto initiative in the UK, while the US market has seen Visa deploy Intelligent Commerce through broad partnerships and live transactions, bypassing formal certification. Despite technical readiness, only 14% of consumers trust AI to execute purchases without verification, and 42% refuse to trust AI for transactions exceeding $25, according to the Product.ai Trust in AI Commerce Report from April 2026. Visa forecasts millions of consumers will use AI agents for purchases by the 2026 holiday season, with success depending on issuer-layer reliability and consumer trust.
Digital Finance & Tokenization › Payments Modernization & Rails ▲Technology
V · Technology · Positive Visa's Agentic Ready program moves agentic commerce to production, positioning Visa as a leader.
INGA.AS · Technology · Positive ING participated in the live agentic payment, showcasing its readiness for agentic commerce.
MA · Competition · Negative Visa's Agentic Ready program contrasts with Mastercard's sandbox approach, potentially giving Visa a competitive edge in agentic commerce.
WO6.XETRA · Technology · Positive Worldline executed the live agentic payment, demonstrating its technical capability and partnership with Visa.
ING · Technology · Positive ING executed the live agentic payment in Germany with Worldline and Visa, validating its issuer readiness for agentic commerce.
Discovery Bank Ltd · Demand · Positive Discovery Bank is a partner in Visa's Agentic Ready program, positioning it to benefit from agentic commerce adoption.
ING plans to redeem $1.75 billion of callable senior notes on September 11, 2026, their scheduled call date. The notes include $500 million of floating-rate notes and $1.25 billion of fixed-to-floating-rate notes, both due in 2027. ING will redeem them at 100% of their principal amount, with accrued and unpaid interest paid to holders of record as of September 10, 2026.
Zacks Adds Five Stocks to Strong Buy List Including ASM International and Texas Instruments
Zacks Investment Research added five stocks to its Zacks Rank Number 1 Strong Buy list on August 6th. ASM International NV saw its next-year earnings consensus estimate rise 9.5% over the last 60 days. Northern Trust Corporation's current-year earnings estimate increased 8.3%. Texas Instruments Incorporated's current-year estimate rose 9%. CTO Realty Growth Incorporated's current-year estimate climbed 5.2%. ING Group NV's current-year estimate advanced 6.5%.
ING repurchases 740,000 shares in latest week of buyback programme
ING has repurchased 740,000 shares during the week ending 31 July 2026 as part of its €1.0 billion share buyback programme announced on 30 April 2026. The shares were bought at an average price of €29.58, for a total consideration of €21,891,581.00. To date, the programme has repurchased 17,765,193 shares at an average price of €26.65, amounting to €473,449,284.83, which represents approximately 47.34% of the maximum total value.
ING Groep Names Andrea Cesaroni as Chief Risk Officer
ING Groep has appointed Andrea Cesaroni as Chief Risk Officer following an Extraordinary General Meeting on July 31, 2026, joining CEO Steven van Rijswijk and CFO Ida Lerner. The share price has risen 10.13% over the past 30 days and delivered a 64.27% total shareholder return over one year. A Simply Wall St narrative fair value estimate of €29.99 sits slightly below the latest close of €30.44, implying the stock is about 1% overvalued, while the current price-to-earnings ratio of 10x is below both the estimated fair ratio of 11.1x and the European banks average of 12x. Analysts expect the number of shares outstanding to decline by 4.5% per year for the next three years, and the valuation uses a discount rate of 6.3%.
ING · Regulation · Neutral ING Groep appointed Andrea Cesaroni as Chief Risk Officer at an EGM, a governance/leadership change with no clear directional impact.
ING Groep Reports 17% ROTE in Q2 2026, Upgrades 2026 and 2027 Outlooks
ING Groep NV posted a return on tangible equity of 17% in the second quarter of 2026, driven by a 10% year-on-year increase in total income and an 8% quarter-on-quarter rise. Commercial net interest income grew by 114 million euros from the prior quarter and was 10.7% higher year-on-year, while fee income climbed 14% year-on-year, with retail banking fees up 16% and wholesale banking fees up 11%. Net core lending expanded by 15.2 billion euros, led by 12.1 billion euros from retail banking, and net core deposits rose by 15.9 billion euros, fueled by a 16.7 billion euro inflow in retail banking. Risk costs remained low at 279 million euros, or 15 basis points of average customer lending, and the CET1 ratio improved to 13.1%, generating 65 basis points in the quarter. The bank upgraded its 2026 outlook, now expecting commercial net interest income between 16.8 billion and 17 billion euros, total income above 24.5 billion euros, and a return on tangible equity above 15%, while its 2027 outlook was raised to total income above 26 billion euros and a return on tangible equity above 16%.
ING repurchases 865,193 shares in latest week of buyback programme
ING announced that during the week of 20 July up to and including 24 July 2026, it repurchased 865,193 shares as part of its €1.0 billion share buyback programme launched on 30 April 2026. The shares were bought at an average price of €28.83 for a total amount of €24,945,169.33. To date, the programme has repurchased 17,025,193 shares at an average price of €26.52, representing approximately 45.16% of the maximum total value.
German Bond Yields Hit 15-Year High as Oil Spikes Before ECB
German bond yields rose to the highest level since 2011 as surging energy prices and mounting inflation expectations fueled bets on interest-rate hikes ahead of the European Central Bank's decision later Thursday. German 10-year government borrowing costs climbed as much as three basis points to 3.21 percent. Traders are pricing almost two quarter-point hikes by the ECB by year-end, while swaps imply a 75 percent chance that the Federal Reserve raises interest rates twice this year. Despite the jump in crude prices, the ECB will probably keep its deposit rate on hold at 2.25 percent on Thursday, though a surprise hike cannot be fully ruled out according to Francesco Pesole, a strategist at ING Groep NV. Brent crude is approaching 100 dollars a barrel and European gas prices closed at the highest since 2023 this week as the conflict between the US and Iran escalated.
ING repurchases 1.2 million shares in latest week of buyback programme
ING announced that it repurchased 1,200,000 shares during the week of 13 July to 17 July 2026 as part of its €1.0 billion share buyback programme. The shares were bought at an average price of €28.54 for a total amount of €34,251,765.00. To date, the programme has repurchased 16,160,000 shares at an average price of €26.40, representing approximately 42.66% of the maximum total value.
ING · Capital · Positive ING repurchased 1.2 million shares as part of its €1.0 billion buyback programme, signaling capital return to shareholders.
INGA.AS · Capital · Positive ING repurchased 1.2 million shares as part of its €1.0 billion buyback programme, signaling capital return to shareholders.
Venture Global subsidiary closes $1.5 billion term loan facility
Venture Global announced that its subsidiary, Venture Global Shipping Holdings, LLC, closed a senior secured term loan facility totaling up to $1.5 billion. The financing matures on June 26, 2032, with Deutsche Bank and ING serving as coordinating lead arrangers, and ING also acting as facility agent and security trustee. Proceeds will be used for general corporate purposes, including reimbursing Venture Global LNG Inc. for the acquisition of nine LNG carriers, funding reserve accounts, and covering transaction fees.
ING repurchases 950,000 shares in latest week of buyback programme
ING has repurchased 950,000 shares during the week of 29 June to 3 July 2026 as part of its €1.0 billion share buyback programme announced on 30 April 2026. The shares were bought at an average price of €27.65 for a total amount of €26,267,240.00. To date, the programme has repurchased 14,010,000 shares at an average price of €26.08, representing approximately 36.54% of the maximum total value.
ING to buy 40% stake in Spain's Singular Bank from Warburg Pincus
ING announced a strategic investment to acquire a stake of approximately 40% in Spanish wealth manager Singular Bank from private equity firm Warburg Pincus, which currently holds 93% of the shares. Singular Bank is an independent Spanish private bank with around €19 billion of client invested assets, serving high-net-worth individuals. Following the transaction, ING’s non-controlling stake is expected to be 40%, depending on a planned additional investment by Singular Bank management. The deal is expected to have a minimal impact on ING’s CET1 ratio and is anticipated to close in the first quarter of 2027.
ING launches subscription banking in the Netherlands to challenge neobanks
ING Groep has introduced a new tiered subscription-based banking model in the Netherlands, with plans to roll out similar packages across Europe by mid-2027. The move responds to rising competition from digital-only neobanks such as Revolut, N26 and Monzo, and aims to deepen customer engagement and cross-selling by bundling payments, insurance and even non-banking services into tiered plans. The launch is part of a broader strategy to increase fee-based income and digital-centric retail banking, and its success in the Netherlands will serve as a test case for the wider European rollout. ING's stock currently trades around €27.205, up 11.1% year to date, though it has declined 2.7% over the past week.
European Banks Still Undervalued Despite 2025 Rally, Three Stand Out
European banks remain attractively valued compared with many U.S. peers despite a strong 2025 rally. Banco Bilbao Vizcaya Argentaria reported a return on tangible equity of 21.7% and a Common Equity Tier 1 ratio above 12% in the first quarter of 2026, yet trades at around 10.3 times forward earnings with a 4.63% dividend yield. Banco Santander has surged nearly 65% over the last 12 months, retains a 15% return on tangible equity with a 14% Common Equity Tier 1 ratio, and trades at just 11 times earnings with a 1.57% dividend and an approximately 17% dividend payout ratio. ING Group offers a 4.7% yield and trades at about 11.4 times forward earnings, but its 16% Common Equity Tier 1 ratio and 57% dividend payout ratio present a more mixed risk-reward setup.
BBVA · Capital · Positive BBVA reported 21.7% ROTE and >12% CET1, trades at 10.3x earnings with 4.63% yield, deemed undervalued.
ING · Capital · Positive Article highlights ING's attractive valuation (11.4x earnings, 4.7% yield) and strong capital ratio (16% CET1), suggesting undervaluation.
INGA.AS · Capital · Positive ING Groep NV is same as ING Groep N.V. (index 0), same reasoning applies.
SAN · Capital · Positive Santander surged 65% in 12 months, has 15% ROTE, 14% CET1, trades at 11x earnings with low payout, indicating undervaluation.
ING appoints Bob Bakker as head of Investor Relations
ING has appointed Bob Bakker as its new head of Investor Relations, succeeding Sjoerd Miltenburg who now leads Wholesale Banking in the Netherlands. Bakker has been part of ING's Investor Relations team since 2019, most recently as Senior Investor Relations Officer, and previously held senior finance roles including head of Finance Business Partnering at ING Bank Romania. He will report directly to chief financial officer Ida Lerner, who praised his deep investor relations expertise and strong track record in engaging with investors and advising the Executive Board.
ING · Capital · Neutral Appointment of new head of Investor Relations is a routine internal move with no clear impact on financial performance or valuation.
INGA.AS · Capital · Neutral Appointment of new head of Investor Relations is a routine internal move with no clear impact on financial performance or valuation.
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