UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
For 4 November, 2015
Commission File Number 1-14642
ING Groep N.V.
Bijlmerplein 888
1102 MG Amsterdam
The Netherlands
Indicate by check mark whether the registrant
files or will file annual reports under cover of Form 20-F or Form 40-F.
Form
20-F x Form
40-F ¨
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T rule 101(b)(1): ¨
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T rule 101(b)(7): ¨
Indicate by check mark whether the registrant
by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to rule
12g3-2(b) under the Securities Exchange Act of 1934.
Yes ¨ No
x
If “Yes” is marked, indicate
below the file number assigned to the registrant in connection with Rule 12g3-2(b).
This Report contains a copy of the following:
The Press Release issued on 4 November, 2015
Page 1 of 5
ING 3Q15 underlying net result EUR 1,092 million
ING Bank 3Q15 underlying net result EUR 1,092 million versus EUR 1,123 million
in 3Q14 and EUR 1,118 million in 2Q15 |
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3Q15 results driven by strong performance in Retail Banking, lower risk costs, growth in core lending and improved margins |
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Risk costs declined on the back of economic recovery to EUR 261 million, or 34 basis points of average RWA |
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Underlying return on IFRS-EU equity was 11.6% in 9M15, or 11.0% excluding CVA/DVA, in line with Ambition 2017 target range |
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ING Group 3Q15 net result EUR 1,064 million (EUR 0.28 per share) including legacy insurance results |
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Further sell-down of shares in NN Group in September reduced stake to 25.8%; on track to meet full exit in 2016 |
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Strong capital position: ING well placed to absorb regulatory impacts and achieve attractive capital return |
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Robust fully-loaded CET1 ratios: ING Bank stable at 11.3% and ING Group unchanged at 12.3% |
CEO
statement
"ING recorded a successful third quarter during which we made good progress on our Think Forward priorities," said Ralph
Hamers, CEO of ING Group. "We accelerated our innovation eff orts by establishing partnerships with financial technology
companies, generating new ideas which will help us to further create a differentiating customer experience. At the same time our
strengthened sustainability focus was recognised by leading external sustainability benchmarks in their annual reviews. In terms
of financial performance, ING Bank delivered another solid quarter, with increased lending, lower risk costs and a continued strong
capital position."
"ING is constantly
looking to develop new and improved services for our customers. To complement our in-house capabilities and maximise the potential
of relevant technologies, we are steadily investing in partnerships and other forms of cooperation with outside parties. An example
of our continuous innovation and commitment to develop our SME business in a digital way is the strategic partnership we launched
with Kabbage, a leading US-based technology platform that provides automated lending to SMEs, reducing the loan application and
approval process to just a few minutes. In addition to taking a small equity stake in the company, we will run a pilot project
with Kabbage in Spain. We are excited about bringing this technology to our customers. Furthermore, in both Belgium and the Netherlands,
we have set up facilities where start-ups can experiment with their new business models, enabling us to share expertise and benefit
from each other's creativity and innovative spirit."
"One of our key
beliefs is that we should support and stimulate economic, social and environmental progress. I am proud that ING is again included
in the Dow Jones Sustainability Index, with an improved score that is well above the banking industry average. ING also received
a higher rating from Sustainalytics, where our score of 88 out of 100 made us the third best performer among the 409 reviewed international
banks. These external assessments validate our sharpened sustainability focus, and the robustness of our strengthened environmental
and social risk policies."
"ING Bank delivered
another solid financial performance this quarter. The underlying result before tax was EUR 1,495 million, reflecting the continued
positive momentum in both Retail and Commercial Banking. Risk costs decreased on both comparable quarters, particularly in Retail
Netherlands where evidence of the economic recovery is now clearly visible in our risk costs. While this is encouraging, we remain
vigilant for any potential impact that imbalances in emerging economies and financial markets could have on our clients and business
units."
"Net interest income
improved on the back of continued growth in our core lending businesses and a slightly improved interest margin. We remain committed
to supporting our clients' lending needs. Notwithstanding reductions in the mature Benelux markets, we grew our core lending portfolio
by EUR 1.6 billion in the third quarter, driven mainly by Retail Challengers and Growth Markets and Industry Lending. Year-to-date,
total customer lending in the core portfolio grew by EUR 17.2 billion, or 4.5% on an annualised basis. Despite higher regulatory
costs in the quarter and a significant impairment on an equity stake, the Bank's underlying return on IFRS-EU equity was 11.2%
for the quarter and 11.6% year-to-date, which lies in the middle of our Ambition 2017 target range."
"ING Bank's fully-loaded CET1 ratio remained stable at 11.3%. The ING Group
CET1 ratio was also unchanged at 12.3%, which figure does not include interim profits - for the second quarter in a row. In the
third quarter we reduced our stake in NN Group to 25.8%. The regulatory environment remains uncertain. However, with our capital
strength, we are well positioned to deliver shareholder returns while we invest in further innovation of the products and services
that empower our customers."
Further
information
All publications related to ING's 3Q15 results can be found at www.ing.com/3q15,
including a video interview with Ralph Hamers, which is also available at YouTube.
Page 2 of 5
Additional financial information is available
at www.ing.com/qr:
- ING Group Historical Trend Data
- ING Group Analyst Presentation (also available via SlideShare)
- ING Group Condensed consolidated interim financial information for the period ended 30 September
2015.
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.
See also ing.world, ING Group's online
magazine, which can be found in the About Us section on www.ing.com .
For convenient access to the latest financial information and press releases both online and offline, download
the ING Group Investor Relations and Media app for iOs on the Apple Store or for Android on Google
Play.
Investor
conference call, media conference call and webcasts
Ralph Hamers, Patrick Flynn and Wilfred Nagel will discuss the results in an analyst and investor conference call on 4 November
2015 at 9:00 a.m. CET. Members of the investment community can join the conference call at +31 20 794 8500 (NL),
+44 20 7190 1537 (UK) or +1 480 629 9031 (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
Conference call conference on 4 November 2015 at 11:00 a.m. CET. Journalists are welcome to join the conference call via +31 20 531 5871 (NL)
or +44 203 365 3210 (UK). The Media conference call can also be followed via live audio webcast at www.ing.com or
via Periscope via ING's Twitter handle @ING_news.
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 and holding a significant stake in the listed
insurer NN Group NV. The purpose of ING Bank is empowering people to stay a step ahead in life and in business. ING Bank's more
than 52,000 employees offer retail and commercial banking services to customers in over 40 countries.
ING Group shares are listed (in the form of depositary
receipts) on the exchanges of Amsterdam (INGA NA, ING.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
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,
the same accounting principles are applied as in the 2014 ING Group 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, 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) ING's implementation of the restructuring
plan as agreed with the European Commission, (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
Page 3 of 5
and uncertainties
detailed in the Risk Factors section contained in the most recent annual report of ING Groep N.V. 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. The securities of NN Group have not been and will not be registered under the U.S. Securities Act of
1933, as amended (the "Securities Act"), and may not be offered or sold within the United States absent registration
or an applicable exemption from the registration requirements of the Securities Act.
Full ING 3Q15 results press release (PDF)
Page 4 of 5
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
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ING Groep N.V. |
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(Registrant) |
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By: |
/s/ P. Jong |
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P. Jong |
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Global Head of Communications |
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By: |
/s/ C. Blokbergen |
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C. Blokbergen |
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Head Legal Department |
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Dated: 4 November,
2015
Page 5
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