Execution of our strategy resulted in outstanding growth and strong value delivery 4Q2024 ING Group 6 February 2025 Delivering outstanding commercial growth across all business lines Note: all figures represent FY2024 figures, unless specifically mentioned 1) Includes private individuals only 2) Excluding RWAs in the Corporate Line 2 Mobile primary customers1) +1.1 mln Net core lending growth €+28 bln Net core deposits growth €+47 bln ▪ Very strong growth in mobile primary customers, all markets contributin ...

STAMFORD, Conn., March 17, 2025 /PRNewswire/ -- Freepoint Eco-Systems LLC ("Freepoint Eco-Systems") is pleased to announce the closing of a $50 million non-recourse project finance facility for its plastic waste upcycling facility located in Hebron, Ohio. The term loan facility, underwritten by ING Capital LLC ("ING"), is the first of its kind in the developing plastic reclamation space for hard-to-recycle plastic."We are excited to be partnering with ING in demonstrating that plastic upcycling facilities t ...

Share Buyback Programme - ING announced a €2.0 billion share buyback programme initiated on 31 October 2024[2] - A total of 3,163,956 shares were repurchased during the week of 23 December 2024 to 27 December 2024[2] - Shares were repurchased at an average price of €14.85, totaling €46,987,104.63[3] - To date, 48,430,773 ordinary shares have been repurchased at an average price of €14.97, amounting to €724,796,329.16[4] - Approximately 36.24% of the maximum total value of the share buyback programme has been completed[4] ESG Performance - ING's ESG rating by MSCI was reaffirmed as 'AA' in August 2024 for the fifth consecutive year[7] - As of December 2023, ING's ESG Risk Rating is 17.2, indicating a low risk[7] - The company aims to integrate sustainability into its core operations and finance sustainable activities[7] Company Operations - ING operates in over 40 countries with more than 60,000 employees providing retail and wholesale banking services[5] - ING Group shares are listed on the Amsterdam, Brussels, and New York Stock Exchanges[6]

Customer Base and Digital Transformation - ING serves 40 million customers across 38 countries, with significant revenue derived from the Benelux countries and Germany[45]. - Over 95% of customers now interact with the company via digital channels only, indicating a significant shift towards digital banking[135]. - In 2024, the number of primary customers increased by 0.8 million to 16.2 million[212]. - Over 84 percent of customers used mobile as their preferred channel in 2024, up from 79 percent in 2023[213]. - The mobile primary customer base grew by 1.1 million to 14.4 million in 2024, with 89 percent of primary customers engaging through mobile[214]. - Customers logged in more than eight billion times to digital platforms in 2024, a 6 percent increase from 2023, with mobile interactions representing 96 percent of total interactions[215]. Financial Performance and Economic Risks - ING's revenues and earnings are influenced by economic volatility, with potential adverse effects from inflation, interest rate changes, and geopolitical events[36]. - The company anticipates that economic downturns could lead to increased loan defaults and necessitate higher reserves[48]. - Political instability and fiscal uncertainty globally have adversely affected the company's business and financial condition[61]. - The ongoing volatility in inflation and interest rates may result in mispricing of products, adversely impacting results[58]. - A downgrade in credit ratings could adversely impact the company's ability to raise capital and increase the cost of debt issuance[151]. Regulatory and Compliance Risks - The company faces risks related to non-compliance with laws and regulations, which could lead to fines and impact profitability[40]. - The company is subject to regulatory supervision by the ECB and other bodies, which may affect its operational costs and business activities[40]. - Non-compliance with laws and regulations could result in fines and penalties, materially affecting the company's business and reputation[78]. - The company is subject to extensive regulatory requirements, including capital, liquidity, and leverage restrictions, which may affect its operational flexibility[82]. - The European Central Bank (ECB) has significant supervisory powers, including the ability to impose capital surcharges and restrict business activities if regulatory requirements are not met[87]. Climate Change and ESG Considerations - ING's operations are exposed to climate change risks, which may affect its reputation and financial performance[52]. - The company is under increasing pressure to meet ESG-related targets and expectations, with significant public dialogue surrounding these issues[109]. - ING's operations are subject to new regulations such as the EU Sustainable Finance Disclosure Regulation and the EU Corporate Sustainability Reporting Directive, which impose disclosure obligations on ESG risks[110]. - The transition to a low-carbon economy may require ING to modify its lending portfolio, potentially leading to claims or legal challenges from customers[117]. - ING aims to achieve net zero in its operations and support clients in their sustainability goals[202][226]. Competition and Market Position - The company faces substantial competition in the Netherlands and other markets, impacting its ability to maintain or increase market share[137]. - The competitive landscape includes new entrants, particularly non-bank and financial technology competitors, which may challenge traditional banking models[138]. - ING aims to lead in sustainability and digital service offerings, with a focus on providing tailored financial solutions[224][226]. - The company positions itself as a pioneer in sustainability, actively working with clients to tackle pressing global issues[231]. Operational and IT Risks - The company is exposed to operational and IT risks, including cyber attacks, which could adversely impact its reputation and financial results[125]. - Compliance with increasing regulatory requirements related to cybersecurity, such as GDPR and DORA, is essential for ING to avoid reputational harm and enforcement actions[132]. - The company must adapt to changing market conditions and competitive pressures, particularly in technology and operational management[155]. Customer Relations and Reputation - The company may face claims from customers alleging misleading information or insufficient advice regarding financial products, which could harm its reputation[106]. - ING faces potential material adverse effects on its reputation and financial condition due to negative publicity related to sales practices and regulatory changes[108]. - The NPS score for Wholesale Banking rose to 74 in 2024, compared to 72 in 2023, reflecting high client appreciation for sector expertise and local support[230].

I ventured into investing in high school in 2011, mainly in REITs, preferred stocks, and high-yield bonds, starting a fascination with markets and the economy that has not faded despite the years. More recently I have been combining long stock positions with covered calls and cash secured puts. I approach investing purely from a fundamental long-term point of view. On Seeking Alpha I mostly cover REITs and financials, with occasional articles on ETFs and other stocks driven by a macro trade idea.Analyst’s D ...

Group 1 - The fourth quarter results for Dutch bank ING Groep N.V. showed a net profit approximately 11% below sell-side consensus [1] - The performance of ING Groep N.V. has been compared to previous assessments, indicating a shift in outlook [1] Group 2 - The analysis emphasizes a long-term, buy-and-hold investment strategy focused on stocks that can sustainably deliver high-quality earnings [1]

Core Insights - ING Capital LLC has closed $424 million in credit facilities for International Transportation Service (ITS) to support a terminal redevelopment project that will increase yard capacity by 50% and electrify its fleet [1][2][3] Financing Details - The credit facilities consist of $224 million in taxable financing and $200 million in tax-exempt financing [2] - Up to $100 million of the credit facilities are designated as Green Loans aimed at procuring electrified terminal equipment [4] Terminal Redevelopment Plan - The redevelopment plan includes a slip-fill project with an estimated capital expenditure of approximately $300 million [3] - The expansion will allow ITS to accommodate up to two 18,000 Twenty-Foot Equivalent Unit (TEU) vessels simultaneously [3] Environmental Initiatives - ITS is making strategic investments in decarbonization initiatives to achieve net-zero emissions, in alignment with the California Clean Air Action Plan (CAAP) [4] - Key decarbonization strategies include electrification and the adoption of zero-tailpipe emissions equipment, such as hydrogen [4] Company Background - ITS is a container terminal operator at the Port of Long Beach, owned by a Macquarie Asset Management-managed vehicle [1][7] - Macquarie Asset Management manages approximately $633.7 billion in assets across various investment solutions [8]

Group 1 - The article does not provide any specific insights or data regarding gold prices or market trends [1] - There is no relevant information about companies or industries in the provided content [2][3]

Core Viewpoint - The European Central Bank (ECB) has notified ING Group regarding its decision on the 2024 Supervisory Review and Evaluation Process (SREP), which includes prudential requirements and capital requirements for 2025 [1]. Capital Requirements - ING Group's fully loaded Common Equity Tier 1 (CET1) requirement remains unchanged at 10.87%, which includes a countercyclical capital buffer of 94 basis points as of the third quarter of 2024 [2]. - The Pillar 2 additional own funds requirement (P2R) is set at 165 basis points and will be applicable starting January 1, 2025 [2]. Current Financial Position - As of September 30, 2024, ING's CET1 ratio stands at 14.3%, significantly above the regulatory requirements [3].

Group 1 - Goldman Sachs projects muted returns for Euro Area stock markets in 2025, indicating a cautious outlook for the region [1] - Valuations across 11 sectors in the Euro Area are significantly cheaper compared to P/E multiples in the US, suggesting potential undervaluation [1] - Earnings growth expectations in the Euro Area are described as tepid, indicating limited growth prospects for companies in the region [1]