ING posts 3Q2025 net result of €1,787 million, with strong growth in fee income and customer lending

Core Insights - ING reported a net result of €1,787 million for Q3 2025, with significant growth in fee income and customer lending [1] - The profit before tax increased to €2,560 million quarter-on-quarter, and the CET1 ratio rose to 13.4% [1] Retail Banking - The mobile primary customer base grew by nearly 200,000 in Q3 2025, totaling 1.1 million or 8% year-on-year, aligning with the target of 1 million new customers annually [2] - Retail lending increased by €8.6 billion, primarily in mortgages, while retail fee income rose by 14% year-on-year, driven by investment products [2] - Deposits decreased due to seasonal impacts and the conclusion of successful campaigns in Germany and Belgium, with some funds shifting to investment products [2] Wholesale Banking - Corporate loan demand increased, leading to lending growth of €5.7 billion and a 19% rise in fee income year-on-year [3] - Financial Markets income improved, and Trade Finance Services and Working Capital Solutions performed well [3] - Deposits grew by €7 billion, reflecting increased volumes in Payments & Cash Management and Financial Markets [3] Sustainability Efforts - ING's Climate Update highlighted a 29% year-on-year increase in sustainable volume mobilized, reaching €110 billion in the first nine months of 2025 [4] - The company aims to support clients in their transition to a low-carbon economy [4] Financial Management - Year-on-year expenses increased due to wage inflation and investments in business growth, but decreased compared to Q2 2025 due to lower restructuring costs [5] - The CET1 capital ratio target was adjusted to approximately 13% to meet higher expected capital requirements [6] - A distribution of €1.6 billion was announced following the completion of a share buyback program [6] Overall Performance - The company expressed satisfaction with the strong results, indicating continued growth and customer trust [7] - Operating expenses remained controlled, and risk costs stayed below the through-the-cycle average, reflecting high asset quality [7]