Core Viewpoint - ING Group has completed two significant risk transfer transactions related to €10.5 billion ($12.1 billion) in corporate loans, enhancing its capital buffer [1] Group 1: Financial Impact - The SRT transactions are expected to increase ING's CET1 ratio by 0.14 percentage points [1] - ING raised its CET1 ratio target to 13%, reducing the funds available for investor returns as the gap between the target and actual level (13.4% at the end of Q3) narrows [1] Group 2: Strategic Initiatives - The announced SRT transactions are the first of their kind within ING's wholesale banking division, aiming to reduce risk-weighted assets by €3.4 billion [1] - ING plans to expand the strategic use of SRTs to retail banking and more wholesale banking portfolios in the coming years [1] Group 3: SRT Mechanism - SRT is a tool that allows banks to sell credit-linked notes to pension funds, sovereign wealth funds, and hedge funds, providing default insurance for loans and freeing up resources originally required to meet regulatory demands [1] - Several European banks have been utilizing this risk management tool to release capital [1]

Core Insights - ING Group has successfully completed two significant risk transfer transactions, marking its first foray into this area for Wholesale Banking, with a total notional exposure of €10.5 billion [1][2] - These transactions are expected to reduce ING's risk-weighted assets by €3.4 billion, positively impacting the CET1 ratio by +14 basis points for Q3 2025 [2] - The company plans to extend the strategic use of risk transfer transactions across Retail and additional Wholesale Banking portfolios in the coming years [2] Group 1 - The transactions provide first-loss protection on diversified portfolios of corporate loans [1] - Andrew Bester, a member of ING's Management Board Banking, emphasized the importance of teamwork and partnerships with institutional investors in executing these transactions [3] - The successful execution aligns with ING's capital velocity strategy and demonstrates its commitment to supporting client needs and contributing to European economic growth [3] Group 2 - ING Group operates as a global financial institution with a strong European base, offering banking services through ING Bank [6] - The bank employs over 60,000 staff and serves customers in more than 100 countries [6] - ING Group shares are listed on multiple exchanges, including Amsterdam, Brussels, and the New York Stock Exchange [6]

Group 1 - Citigroup maintains a "Buy" rating for ING Group, raising its price target from EUR 20.30 to EUR 25.80 [1][6] - ING has received a consensus "Buy" rating from five brokerage firms, with upgrades from Morgan Stanley and Cfra Research [2][6] - Keefe, Bruyette & Woods downgraded ING to a "moderate sell" in November, indicating mixed analyst sentiment [3] Group 2 - ING's stock is currently priced at $24.82, reflecting a $0.45 increase, or approximately 1.85% [4] - The stock has fluctuated between $24.57 and $24.88 during the day, with a yearly high of $26.59 and a low of $15.09, indicating significant volatility [4] - ING's market capitalization is around $75.73 billion, with a trading volume of 1,773,800 shares, highlighting its substantial size in the financial sector [5][6] Group 3 - The stock's debt-to-equity ratio stands at 2.99, indicating a reliance on debt financing [3][6]

Core Insights - The US job growth for September exceeded expectations, indicating a robust labor market [1] - Despite the job growth, the unemployment rate increased as more individuals entered the labor market in search of employment [1] Job Growth - The increase in jobs for September was stronger than anticipated, suggesting positive economic momentum [1] Unemployment Rate - The unemployment rate rose, reflecting a higher number of workers actively seeking jobs [1]

Core Point - ING Bank Slaski has agreed to acquire the remaining 55% stake in Polish asset management company Goldman Sachs TFI for 396 million zlotys ($108 million) [1] Company Summary - The acquisition involves Goldman Sachs TFI, a Polish asset management company, which is currently partially owned by Goldman Sachs Asset Management International Holdings [1] - The transaction reflects ING Bank Slaski's strategy to enhance its asset management capabilities in Poland [1] Financial Summary - The total value of the acquisition is 396 million zlotys, equivalent to approximately $108 million [1]

Group 1 - The core viewpoint is that the US dollar is expected to decline next year due to the anticipated further interest rate cuts by the Federal Reserve, which will lower hedging costs [1][2] - The forecast includes a prediction of a 75 basis point rate cut by the Federal Reserve [1][2] - The euro is projected to rise to 1.22 by the fourth quarter of 2026, driven by increased growth expectations in the Eurozone due to German fiscal stimulus [1][2]

Core Points - Fourteen major European banks are opposing the European Central Bank's (ECB) plan for a digital euro, arguing it could undermine private payment systems [1][2] - The banks believe the digital euro would duplicate existing private initiatives aimed at creating a unified European payments network [2][3] - Lawmakers are advocating for a scaled-back version of the digital euro that would function as a digital form of cash, allowing offline payments and avoiding competition with established commercial networks [4][5] Group 1: Opposition from Banks - Major lenders, including Deutsche Bank, BNP Paribas, and ING, have united against the ECB's digital euro proposal [2] - The banks are promoting their alternative payment system, Wero, which is already operational in Belgium, France, and Germany, and aims to expand across the eurozone [3] - The banks argue that the ECB's proposed digital currency could disrupt their progress in developing a European payments network [3] Group 2: Legislative Concerns - Lawmakers are increasingly questioning the necessity and benefits of the digital euro, suggesting it may not complement private payment systems [4] - The ECB is moving forward with plans for a pilot program in 2027, but full implementation requires political approval from the European Parliament and national governments [4] - There is growing support for a digital euro model that would not require internet access, thereby reducing overlap with existing payment networks [5]

Core Insights - The European Central Bank (ECB) has completed its 2025 Supervisory Review and Evaluation Process (SREP) for ING Group, resulting in updated prudential requirements for the bank, including capital requirements for 2026 [1][2]. Capital Requirements - The Pillar 2 additional own funds requirement (P2R) for ING Group will increase by 5 basis points (bps), from 165 bps to 170 bps, effective January 1, 2026. This leads to an increase in the fully loaded Common Equity Tier 1 (CET1) requirement by 3 bps, raising it to 11.00% [2]. - The total capital requirement for ING Group will rise to 15.24% due to the increase in the countercyclical buffer requirement in Spain [2]. - The ECB has also set a 10 bps leverage ratio Pillar 2 requirement (P2R-LR), increasing the overall leverage ratio requirement from 3.5% to 3.6% as of January 1, 2026 [3]. Current Ratios - As of September 30, 2025, ING Group's CET1 ratio stood at 13.4%, and its leverage ratio was 4.4%, both exceeding the new regulatory requirements [3].

Exhibit 99.1 "ING has had a strong third quarter of 2025 as we continued to execute our strategy to accelerate growth, increase our Impact. and deliver customer value, and we are on track to reach our financial targets for 2027," said Steven van Rijswijk, CEO of ING. "While macroeconomic and geopolitical uncertainty remains prevalent, a growing number of customers continue to place their trust in us. Customer lending has increased and fee income has grown at a strong pace. Commercial net interest Income has ...

Core Viewpoint - ING Group reported better-than-expected earnings and sales for Q3, leading to a pre-market stock price increase of 5% [1] Financial Performance - Q3 earnings per share (EPS) were $0.70, exceeding analysts' expectations of $0.64 by 9.69% and up 8% from $0.65 in the same quarter last year [1] - Sales for the quarter reached $6.896 billion, surpassing the forecast of $6.550 billion by 5.28% and increasing 6.17% from $6.495 billion year-over-year [1] Stock Market Reaction - The stock price rose to $25.37 in pre-market trading, reflecting a 4.96% increase from the previous close of $24.25 [1] - The total market capitalization of ING Group is approximately $70.401 billion [1]