EBA reports on outcome of 2018 EU-wide stress test
November 02 2018 - 12:08PM
ING Group was subject to the 2018 EU-wide stress test conducted
by the European Banking Authority (EBA), in cooperation with the De
Nederlandsche Bank, the European Central Bank (ECB), and the
European Systemic Risk Board (ESRB). ING Group notes the
announcements made today by the EBA on the EU-wide stress test and
fully acknowledges the outcomes of this exercise.
The 2018 EU-wide stress test does not contain a pass fail
threshold and instead is designed to be used as an important source
of information for the purposes of the SREP. The results will
assist competent authorities in assessing ING Group's ability to
meet applicable prudential requirements under stressed
scenarios.
The adverse stress test scenario was set by the ECB/ESRB and
covers a three-year time horizon (2018-2020). The stress test has
been carried out applying a static balance sheet assumption as at
December 2017, and therefore does not take into account future
business strategies and management actions. It is not a forecast of
ING Group's profits.
Under the hypothetical baseline scenario and EBA's
methodological instructions, ING Group would have a fully loaded
common equity Tier 1 capital ratio (CET1) of 13.99% in 2020. Under
the hypothetical adverse scenario and EBA's methodological
instructions, ING Group would have a fully loaded CET1 ratio of
10.70% in 2020. ING Group published an actual fully loaded CET1
ratio of 14.51% per 31 December 2017. As of 30 September 2018 ING
Group reported a fully loaded CET1 ratio of 14,0%.
Press
enquiries |
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Investor
enquiries |
Christoph Linke |
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ING Group Investor
Relations |
+31 20 576 4315 |
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+31 20 576 6396 |
Christoph.Linke@ing.com |
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Investor.Relations@ing.com |
Note for editors
Detailed information on the outcome of the 2018 EU-wide stress
test is provided by the EBA through disclosure templates available
at eba.europa.eu.
For further information on ING, please visit www.ing.com.
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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 more than
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, evidenced by ING's ranking in the
banks industry group by Sustainalytics. ING Group shares are
included in the FTSE4Good index and in the Dow Jones Sustainability
Index (Europe and World), where ING is also 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. 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) operational risks, such as system
disruptions or failures, breaches of security, cyber attacks, human
error, changes in operational practices or inadequate controls
including in respect of third parties with which we do business,
(17) the inability to protect our intellectual property and
infringement claims by third parties, (18) the inability to
retain key personnel, (19) business, operational, regulatory,
reputation and other risks in connection with climate change,
(20) ING's ability to achieve its strategy, including
projected operational synergies and cost-saving programmes and
(21) 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.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. |
- EBA reports on outcome of 2018 EU-wide stress test.pdf
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