ING publishes its 2017 Integrated Annual Report and proxy materials 2018 AGM
March 08 2018 - 7:59AM
"Empowering people" is the title of the 2017
Integrated Annual Report of ING Groep N.V. (IAR) that is published
today, together with the Annual Report of ING Bank N.V..
The title reflects ING's purpose of empowering
people to stay a step ahead in life and in business. In 2017, we
again saw rapid growth in interactions with customers through
mobile devices. With our Customer Promise to be clear and easy,
available anytime and anywhere, to empower and to keep getting
better, we've established ourselves as a leader in digital
banking.
In Retail Banking, the overall number of customers
increased to 37.4 million in 2017, up more than four million since
the launch of the Think Forward strategy in 2014. The number of
primary relationships - customers with a current account with
recurring income and at least one other product - grew to 10.8
million. We're on track to meet our ambition of 14 million primary
customers by 2020. Based on a rolling average, we were rated number
one in terms of NPS in seven of our 13 retail markets in 2017.
ING Wholesale Banking's solid performance
demonstrated the skills that differentiate us in the market,
including our strong sector expertise in industry lending and
capabilities in areas like payments and cash management, working
capital solutions and financial markets. We'll further develop
Wholesale Banking as a client focused franchise that offers a
consistent experience across borders.
At the same time that we transform ING and prepare
for the future, we must also ensure that our day-to-day operations
meet the highest standards and that we continue to live up to the
expectations of customers and society. This includes ensuring that
critical non-financial risk areas, such as customer due diligence
and anti-money laundering measures, stay top of mind and are
supported by a structural approach and strong foundations.
Our sustainability information is also provided in
the IAR as sustainability is embedded in ING's purpose and
strategy. In 2017 we decided to focus our sustainability efforts on
contributing to a low-carbon and self-reliant society as we think
this will have the most impact both for our customers and society.
For businesses, this includes increasing financing for responsible
companies while reducing financing for carbon-intensive sectors,
continuing our involvement in the circular economy and increasing
financing aimed at promoting social progress. For customers, our
approach to promoting a self-reliant society includes providing
them with tools and insights that improve their financial
decision-making and resilience.
The IAR and the Annual Report of ING Bank N.V.,
are available on a special annual report landing page on ING's
website ing.com. This page includes all relevant downloads, and an
accessible and engaging overview of the key figures and highlights
of the year.
ING today also published the proxy materials for
its annual General Meeting (AGM), to be held on Monday, 23 April
2018, in Amsterdam. The proxy materials, including the agenda for
the AGM, will be available as of 3 pm CET at www.ing.com/agm. The
agenda includes a proposal to the AGM to amend the Executive Board
remuneration policy and to re-appoint Eric Boyer de la Giroday as a
member of the Supervisory Board. The reappointment will be
effective immediately at the end of the Annual General Meeting of
23 April 2018. As announced in 2017, Jeroen van der Veer will step
down from the Supervisory Board as per the end of the AGM in 2018.
He has been a member of the Supervisory Board since 2009 and was
reappointed for a period of one year in 2017. As announced earlier
it is the intention of the Supervisory Board to elect Hans Wijers
as its chairman to succeed Jeroen van der Veer in that capacity per
the end of the AGM 2018.
ING will also file today its Annual Report on Form
20-F for the year ended 31 December 2017 with the United States
Securities and Exchange Commission (SEC). The 2017 Form 20-F is
available on the ING website, and can be downloaded from the SEC
website (www.sec.gov) later today. Shareholders or holders of ADRs
can also request a hard copy of ING's audited financial statements,
free of charge, at www.ing.com/publications.htm.
Note for
editors
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. Footage
(B-roll) of ING is available via ing.yourmediakit.com or can be
requested by emailing info@yourmediakit.com. ING presentations are
available at SlideShare.
Press enquiries |
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Investor enquiries |
Carolien van der Giessen |
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ING Group Investor Relations |
+31 20 576 6386 |
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+31 20 576 6396 |
Carolien.van.der.Giessen@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 AS,
INGA.AS), Brussels and on the New York Stock Exchange (ADRs: ING
US, ING.N).
Sustainability forms an integral part of ING's strategy, evidenced
by ING's ranking as a leader in the banks industry group by
Sustainalytics. ING Group shares are included in the FTSE4Good
index and in the Dow Jones Sustainability Index (Europe and World),
where ING is also 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.
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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information contained therein.
Source: ING Group via Globenewswire
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