"Accelerate" is the theme of the 2016 Integrated Annual Report
of ING Groep N.V. (IAR) that is published today, together with the
Annual Report of ING Bank N.V.. The theme reflects the accelerating
pace of change in technology and other areas that is impacting our
customers' lives and their expectations from financial service
providers. It also expresses how we, as digital leaders in banking,
are accelerating the Think Forward strategy to ensure we continue
to provide customers with a differentiating experience.
Similar to previous years, the IAR is an integrated report,
which combines ING's financial and non-financial performance in
2016. As sustainability forms an integral part of our strategy and
is embedded in our business, our sustainability information is
provided in the IAR. The IAR includes a look at how we aim to
create value over time and how the Think Forward strategy addresses
the challenges, risks and opportunities ING faces in a
fast-changing world.
In 2016 the number of customers choosing ING for their banking
needs again increased and has grown by around 3 million to 35.8
million since we launched the Think Forward strategy. The number of
primary relationships - customers with a current account with
recurring income and at least one other product - grew eight
percent to 9.7 million, close to our 2017 ambition of 10 million
customers. Our net core lending to customers grew by almost EUR 35
billion and savings entrusted to us rose by over EUR 28 billion. We
also enjoyed number one Net Promoter Scores (NPS) in 7 of our 13
retail markets, a key indicator of customer satisfaction. These
strong relationships with customers helped to drive ING's robust
commercial and financial growth in 2016.
Reflecting a digital first approach, 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, a create-your-own-report download tool, and an
accessible and engaging overview of the key figures and highlights
of the year. The 2016 ING Annual Report is also available free of
charge in print at ING's global headquarters.
ING will also file today its Annual Report on Form 20-F for the
year ended 31 December 2016 with the United States Securities and
Exchange Commission (SEC). The 2016 Form 20-F is available on the
ING website, and can be downloaded from the SEC website
(www.sec.gov) later today.
Other documents related to ING's Annual General Meeting (AGM),
including the agenda for the AGM, will be available as of 23 March
2017 on the ING website. The AGM will be held on 8 May 2017 in
Amsterdam.
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 videobankonline.com, or can be requested by
emailing info@videobankonline.com. ING presentations are available
at SlideShare.
Press
enquiries |
|
Investor
enquiries |
Carolien van der
Giessen |
|
ING Group Investor
Relations |
+31 20 576 6836 |
|
+31 20 576 6396 |
Carolien.van.der.Giessen@ing.com |
|
Investor.Relations@ing.com |
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 52,000 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, which
is evidenced by the number one position among 395 banks ranked by
Sustainalytics. ING Group shares are being included in the
FTSE4Good index and in the Dow Jones Sustainability Index (Europe
and World) where ING is 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. Insofar as they
could have an impact in Belgium, all projects described are
proposed intentions of the bank. No formal decisions will be taken
until the information and consultation phases with the Work Council
have been properly finalised.
ING Group's annual accounts are prepared in accordance with
International Financial Reporting Standards as adopted by the
European Union ('IFRS-EU'). In preparing the financial information
in this document, except as described otherwise, the same
accounting principles are applied as in the 2016 ING Group
consolidated annual accounts. All figures in this document are
unaudited. Small differences are possible in the tables due to
rounding.
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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