ING Groep NV
NYSE:ING
ING Groep NV
ING Groep NV, nestled in the bustling financial hub of Amsterdam, stands as a titan in the banking and financial services industry. Born in 1991 from a merger between insurance company Nationale-Nederlanden and banking conglomerate NMB Postbank Group, ING has woven itself into the fabric of global finance. Its core operations span an impressive range, from retail and commercial banking to asset management and insurance, serving millions of customers around the world. The cornerstone of ING's strategy lies in its deep commitment to digital innovation. A pioneer in embracing fintech, ING leverages technology to refine customer experiences, offering seamless online banking services that cater to individual flexibility and business agility.
This powerhouse of a company operates within the intricate web of global financial markets, with a business model rooted in a balanced approach. ING earns its revenue primarily through interest income derived from loans and mortgages, which it extends to individuals, small businesses, and large corporations alike. The spread, or difference, between the interest charged on loans and that paid on deposits comprises a substantial share of its earnings. Additionally, the institution thrives on fee-based income, which emanates from a plethora of services — ranging from custodial and security services to transaction fees. Further diversifying its revenue streams, ING engages in investment banking and insurance activities, weathering economic cycles by relying on this multifaceted business model. Despite the complexities of global finance, ING's focus on sustainability and innovation signals its relentless drive to adapt and thrive amid the ever-evolving financial landscape.
ING Groep NV, nestled in the bustling financial hub of Amsterdam, stands as a titan in the banking and financial services industry. Born in 1991 from a merger between insurance company Nationale-Nederlanden and banking conglomerate NMB Postbank Group, ING has woven itself into the fabric of global finance. Its core operations span an impressive range, from retail and commercial banking to asset management and insurance, serving millions of customers around the world. The cornerstone of ING's strategy lies in its deep commitment to digital innovation. A pioneer in embracing fintech, ING leverages technology to refine customer experiences, offering seamless online banking services that cater to individual flexibility and business agility.
This powerhouse of a company operates within the intricate web of global financial markets, with a business model rooted in a balanced approach. ING earns its revenue primarily through interest income derived from loans and mortgages, which it extends to individuals, small businesses, and large corporations alike. The spread, or difference, between the interest charged on loans and that paid on deposits comprises a substantial share of its earnings. Additionally, the institution thrives on fee-based income, which emanates from a plethora of services — ranging from custodial and security services to transaction fees. Further diversifying its revenue streams, ING engages in investment banking and insurance activities, weathering economic cycles by relying on this multifaceted business model. Despite the complexities of global finance, ING's focus on sustainability and innovation signals its relentless drive to adapt and thrive amid the ever-evolving financial landscape.
Strong Growth: ING delivered record total income for the third consecutive year, driven by robust commercial momentum and customer growth across all key markets.
Upgraded Outlook: The company raised its 2026 and 2027 guidance, now expecting total income of around EUR 24 billion in 2026 and to exceed EUR 25 billion in 2027, both at the upper end or above previous targets.
Operational Efficiency: Strong cost discipline and investments in technology, including GenAI and automation, led to improved operational leverage and further efficiency gains.
Shareholder Returns: ING announced total distributions to shareholders of EUR 3.6 billion, continued its share buyback program, and confirmed a 50% payout policy.
Cost Guidance: 2026 operating expenses (excluding incidentals) are guided at EUR 12.6–12.8 billion, with a further target of around EUR 13 billion for 2027, reinforcing a focus on positive jaws and cost control.
Capital & ROE: ING generated over EUR 6.3 billion in net profit in 2025 and maintained a strong CET1 ratio, with a 2025 return on equity of 13.2%, and targets of 14% for 2026 and 15% for 2027.
Fee Income & NII: Fee income grew 15% in 2025 and is expected to rise a further 5–10% in 2026, with commercial NII remaining strong and supported by robust volume growth.
Management
Steven J. A. van Rijswijk is the CEO of ING Groep NV, having taken on the role in July 2020. He joined ING in 1995 and has held various senior positions within the company, showcasing a robust track record in risk management and corporate banking. Prior to becoming CEO, van Rijswijk was the Chief Risk Officer (CRO) from 2017 to 2020. His deep understanding of the financial services industry and commitment to innovation and digital transformation have been key attributes of his leadership. Van Rijswijk holds a master's degree in business economics from Erasmus University Rotterdam, which has contributed to his analytical and strategic capabilities. Under his leadership, ING continues to focus on its strategy of becoming a more sustainable and customer-focused bank.
Tanate Phutrakul is a well-regarded executive known for his leadership in the banking and finance industries. He has served as the Chief Financial Officer (CFO) of ING Groep NV, the multinational banking corporation headquartered in the Netherlands. Phutrakul joined ING in 2019 as CFO, bringing with him a wealth of experience and expertise in financial management and strategy. Before his tenure at ING, Phutrakul held prominent roles at companies like TMB Bank in Thailand, where he served as CFO, and he also worked at the Belgian-based materials company Umicore. His educational background includes a degree from the London School of Economics and Political Science, which has provided him a strong foundation in economics and finance. In his role at ING, Phutrakul focuses on maintaining financial stability and supporting the company's growth strategy. He is known for his analytical approach and effective management style, which have been instrumental in navigating the company through various financial landscapes.
Before his tenure at ING, Phutrakul held prominent roles at companies like TMB Bank in Thailand, where he served as CFO, and he also worked at the Belgian-based materials company Umicore. His educational background includes a degree from the London School of Economics and Political Science, which has provided him a strong foundation in economics and finance.
In his role at ING, Phutrakul focuses on maintaining financial stability and supporting the company's growth strategy. He is known for his analytical approach and effective management style, which have been instrumental in navigating the company through various financial landscapes.
As of the latest available information, Ljiljana Cortan serves as the Chief Risk Officer (CRO) at ING Groep NV. She joined the bank in this capacity effective on January 1, 2022. Prior to her role at ING, Cortan had an extensive career in the banking industry, particularly in risk management roles. Before joining ING, she held various senior positions at UniCredit, where she gained considerable experience. Her roles at UniCredit included Chief Risk Officer at UniCredit Bank Austria and Head of Group Credit and Integrated Risks. Through her work at UniCredit, she developed a deep expertise in managing credit risk and integrated risk frameworks across different geographies and banking environments. Her educational background includes a strong foundation in finance and risk management, which has supported her professional achievements. Ljiljana Cortan is recognized for her strategic approach to risk management and her ability to navigate complex financial landscapes. At ING, Cortan plays a crucial role in overseeing the bank's risk management strategies and ensuring the stability and compliance of its operations globally. Her leadership contributes significantly to the bank's efforts to manage risks effectively in a dynamic financial environment.
Before joining ING, she held various senior positions at UniCredit, where she gained considerable experience. Her roles at UniCredit included Chief Risk Officer at UniCredit Bank Austria and Head of Group Credit and Integrated Risks. Through her work at UniCredit, she developed a deep expertise in managing credit risk and integrated risk frameworks across different geographies and banking environments.
Her educational background includes a strong foundation in finance and risk management, which has supported her professional achievements. Ljiljana Cortan is recognized for her strategic approach to risk management and her ability to navigate complex financial landscapes.
At ING, Cortan plays a crucial role in overseeing the bank's risk management strategies and ensuring the stability and compliance of its operations globally. Her leadership contributes significantly to the bank's efforts to manage risks effectively in a dynamic financial environment.
Pinar Abay is a prominent Turkish executive who holds a significant position at ING Groep NV, where she serves as a member of the Management Board Banking. She joined ING in 2011 as the CEO of ING Bank Turkey, where she was instrumental in transforming and significantly growing the business, focusing on digital banking and improving customer experience. Under her leadership, the bank in Turkey became known for its innovative and client-centric approach. She played a key role in implementing new digital strategies that positioned ING as a strong competitor in the Turkish market. Her leadership style is often highlighted for its emphasis on innovation, agility, and inclusiveness. In January 2020, Pinar Abay was appointed to the Management Board Banking of ING Group, which brought her international expertise to the company's global operations. Her responsibilities at the board include focusing on enhancing operations, customer experience, and the bank's digital transformation across different markets. Prior to her career at ING, Pinar Abay gained experience in the consulting industry. She studied at Bilkent University in Ankara, Turkey, and she holds an MBA from Harvard Business School. Her vast experience and educational background have also made her a role model for many aspiring leaders, particularly in the finance industry.
Under her leadership, the bank in Turkey became known for its innovative and client-centric approach. She played a key role in implementing new digital strategies that positioned ING as a strong competitor in the Turkish market. Her leadership style is often highlighted for its emphasis on innovation, agility, and inclusiveness.
In January 2020, Pinar Abay was appointed to the Management Board Banking of ING Group, which brought her international expertise to the company's global operations. Her responsibilities at the board include focusing on enhancing operations, customer experience, and the bank's digital transformation across different markets.
Prior to her career at ING, Pinar Abay gained experience in the consulting industry. She studied at Bilkent University in Ankara, Turkey, and she holds an MBA from Harvard Business School. Her vast experience and educational background have also made her a role model for many aspiring leaders, particularly in the finance industry.
Andrew John Milton Bester is a notable figure in the banking and financial sector. He has an extensive background in banking, with experience in various leadership roles across different financial institutions. After joining ING Groep NV, he served in a capacity that was pivotal to the organization's operations, bringing in his expertise in finance and banking management to bolster the group's strategic objectives. Before his tenure at ING, Bester was known for his role as CEO of The Co-operative Bank in the UK, where he played a crucial role in leading the organization through significant restructuring efforts and strategic shifts. His career also includes senior positions at Lloyds Banking Group, where he gained a considerable reputation for transforming business operations and driving growth. As a leader, Andrew Bester is recognized for his strong strategic vision, operational expertise, and ability to lead complex organizational changes effectively. Overall, his contributions to ING Groep NV and his prior roles highlight his ability to navigate the challenges of the banking industry while implementing strategies that foster growth and stability.
Before his tenure at ING, Bester was known for his role as CEO of The Co-operative Bank in the UK, where he played a crucial role in leading the organization through significant restructuring efforts and strategic shifts. His career also includes senior positions at Lloyds Banking Group, where he gained a considerable reputation for transforming business operations and driving growth. As a leader, Andrew Bester is recognized for his strong strategic vision, operational expertise, and ability to lead complex organizational changes effectively.
Overall, his contributions to ING Groep NV and his prior roles highlight his ability to navigate the challenges of the banking industry while implementing strategies that foster growth and stability.
Daniele Tonella is a notable executive in the financial industry. He has served as the CEO of ING Switzerland and has played a significant role in developing and implementing strategic initiatives within the company. With a background in IT and management, Tonella has been instrumental in advancing ING's digital transformation efforts, focusing on innovation and customer-centric solutions. His leadership has been marked by a commitment to enhancing operational efficiency and expanding ING's footprint in the Swiss market. Prior to his role at ING, Tonella garnered extensive experience in financial services and technology, which has contributed to his success in steering the company through competitive and regulatory challenges.
Erwin H. M. Olijslager is known for his association with ING Groep NV, where he served in various leadership roles. He has been recognized for his profound impact on the company during his tenure, significantly contributing to its strategic initiatives and growth. Olijslager brought extensive financial and managerial expertise to ING, influencing both its domestic and international operations. Beyond his role in ING, he has been involved in different sectors, building a reputation for strong leadership and effective decision-making. His career has been marked by a commitment to innovation and excellence, helping to steer the company through various market challenges and opportunities.
Han-Tsung Ho is an experienced executive at ING Groep NV, a globally renowned financial services corporation. He serves as the CEO of ING's operations in Taiwan. Bringing a comprehensive background in banking and management, Mr. Ho plays a pivotal role in driving strategic initiatives and strengthening ING's presence in the Taiwanese market. His leadership is characterized by a focus on customer-centric financial solutions and innovation, aligning with ING's global vision. With expertise in various sectors of finance, Mr. Ho contributes significantly to the company's growth and adaptation in the rapidly evolving financial landscape.
As of the most recent information, Sjoerd Miltenburg serves as the Head of Media Relations at ING Groep NV. In this role, he is responsible for managing the company’s media strategies and communication with the press. He plays a crucial part in shaping ING's public image and handling external communication, ensuring the company's messages are effectively conveyed to the public and media outlets. His work involves collaborating with various departments within ING to align media strategies with the company’s overall objectives and values.
