ING reports outcome of 2017 EU-wide Transparency Exercise
November 24 2017 - 12:18PM
ING Groep N.V. notes the announcements made today by the
European Banking Authority and De Nederlandsche Bank regarding the
information of the 2017 EU-wide Transparency Exercise and
fulfilment of the EBA Board of Supervisors' decision.
The outcome of the exercise related to ING Group can be found in
the annexes on the EBA website.
Background 2017 EU-wide Transparency Exercise
At its meeting in May 2017, the EBA Board of Supervisors
approved the package for the 2017 EU-wide Transparency Exercise,
which since 2016 is performed on an annual basis and published
along with the Risk Assessment Report (RAR). The annual
transparency exercise will be based solely on COREP/FINREP data on
the form and scope to assure a sufficient and appropriate level of
information to market participants.
The templates were centrally filled in by the EBA and sent
afterwards for verification by banks and supervisors. Banks had the
chance to correct any errors detected and to resubmit correct data
through the regular supervisory reporting channels.
Note for editors
For further information on ING, please visit www.ing.com.
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Press
enquiries |
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Investor
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Christoph Linke |
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ING Group Investor
Relations |
+31 20 576 4315 |
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+31 20 576 6396 |
Christoph.Linke@ing.com |
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Investor.Relations@ing.com |
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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 more than 51,000
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 corporate
strategy, which is evidenced by ING Group shares 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. 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 2016 ING Group
consolidated annual accounts. 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 a number of factors, including, 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) potential consequences of European Union countries leaving the
European Union or a break-up of the euro, (4) changes in the
availability of, and costs associated with, sources of liquidity
such as interbank funding, as well as conditions in the credit and
capital markets generally, including changes in borrower and
counterparty creditworthiness, (5) changes affecting interest rate
levels, (6) changes affecting currency exchange rates, (7) changes
in investor and customer behaviour, (8) changes in general
competitive factors, (9) changes in laws and regulations and the
interpretation and application thereof, (10) geopolitical risks and
policies and actions of governmental and regulatory authorities,
(11) changes in standards and interpretations under International
Financial Reporting Standards (IFRS) and the application thereof,
(12) conclusions with regard to purchase accounting assumptions and
methodologies, and other changes in accounting assumptions and
methodologies including changes in valuation of issued securities
and credit market exposure, (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) the outcome of current and future legal and
regulatory proceedings, (16) ING's ability to achieve its strategy,
including projected operational synergies and cost-saving
programmes and (17) 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. Many
of those factors are beyond ING's control. 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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