ING 2016 underlying net profit EUR 4,976 million; FY 2016 dividend of EUR 0.66 per ordinary share
February 02 2017 - 12:59AM
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 information
All 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 enquiries T:
+31 20 576 6396
E: investor.relations@ing.com
Press enquiries T: +31 20 576
5000
E: media.relations@ing.com |
|
ING
PROFILE
ING 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 INFORMATION
Elements 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. |
ING FY 2016 results full Press
Release (PDF)
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: ING Group via Globenewswire
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