EBA reports on outcome of 2021 EU-wide stress test
EBA reports on outcome of 2021
EU-wide stress test
ING Group was subject to the 2021 EU-wide stress test conducted
by the European Banking Authority (EBA), in cooperation with the
European Central Bank (ECB), the European Systemic Risk Board
(ESRB) and De Nederlandsche Bank. ING Group notes the announcements
made today by the EBA on the stress test and fully acknowledges the
outcomes of this exercise.
The 2021 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 Supervisory Review and
Evaluation Process. 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 (2020-2023). The stress test has
been carried out applying a static balance sheet assumption as at
December 2020, 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 16.06% in 2023. Under
the hypothetical adverse scenario and EBA’s methodological
instructions, ING Group would have a fully loaded CET1 ratio of
10.99% in 2023. ING Group published an actual fully loaded CET1
ratio of 15.41% per 31 December 2020. This number excluded €3,266
mln (corresponding to 1.07% CET1) for distributions, reserved
outside of CET1 capital.
Note for editors
Detailed information on the outcome of the 2021 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.
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. ING presentations
are available at SlideShare.
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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 57,000
employees offer retail and wholesale banking services to customers
in over 40 countries.
ING Group shares are listed on the exchanges of Amsterdam (INGA
NA, 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 leading position in sector benchmarks by
Sustainalytics and MSCI. ING ranks first in our market-cap group by
Sustainalytics as of July 2020. ING's ESG rating by MSCI was
upgraded to 'AA' in December 2020. ING Group shares are included in
major sustainability and Environmental, Social and Governance (ESG)
index products of leading providers STOXX, Morningstar and FTSE
Russell. In January 2021, ING received an ESG evaluation score of
83 ('strong') from S&P Global Ratings.
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.
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 diff er materially from those
expressed or implied in such statements. Actual results,
performance or events may diff er materially from those in such
statements due to a number of factors, including, without
limitation: (1) changes in general economic conditions and
customer behaviour, in particular economic conditions in ING’s core
markets, including changes affecting currency exchange rates,
(2) the effects of the Covid-19 pandemic and related response
measures, including lockdowns and travel restrictions, on economic
conditions in countries in which ING operates, on ING’s business
and operations and on ING’s employees, customers and
counterparties, (3) changes affecting interest rate levels,
(4) any default of a major market participant and related
market disruption, (5) changes in performance of financial
markets, including in Europe and developing markets,
(6) political instability and fiscal uncertainty in Europe and
the United States, (7) discontinuation of or changes in
‘benchmark’ indices, (8) inflation and deflation in our
principal markets, (9) changes in conditions in the credit and
capital markets generally, including changes in borrower and
counterparty creditworthiness, (10) failures of banks falling
under the scope of state compensation schemes,
(11) non-compliance with or changes in laws and regulations,
including those concerning financial services, financial economic
crimes and tax laws, and the interpretation and application
thereof, (12) geopolitical risks, political instabilities and
policies and actions of governmental and regulatory authorities,
(13) legal and regulatory risks in certain countries with less
developed legal and regulatory frameworks, (14) prudential
supervision and regulations, including in relation to stress tests
and regulatory restrictions on dividends and distributions,, (also
among members of the group), (15) regulatory consequences of
the United Kingdom’s withdrawal from the European Union, including
authorizations and equivalence decisions, (16) ING’s ability
to meet minimum capital and other prudential regulatory
requirements, (17) changes in regulation of US commodities and
derivatives businesses of ING and its customers,
(18) application of bank recovery and resolution regimes,
including write-down and conversion powers in relation to our
securities, (19) outcome of current and future litigation,
enforcement proceedings, investigations or other regulatory
actions, including claims by customers who feel mislead and other
conduct issues, (20) changes in tax laws and regulations and
risks of non-compliance or investigation in connection with tax
laws, including FATCA, (21) 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,
(22) risks and challenges related to cybercrime including the
effects of cyber-attacks and changes in legislation and regulation
related to cybersecurity and data privacy, (23) changes in
general competitive factors, including ability to increase or
maintain market share, (24) the inability to protect our
intellectual property and infringement claims by third parties,
(25) inability of counterparties to meet financial obligations
or ability to enforce rights against such counterparties,
(26) changes in credit ratings, (27) business,
operational, regulatory, reputation and other risks and challenges
in connection with climate change, (28) inability to attract
and retain key personnel, (29) future liabilities under defined
benefit retirement plans, (30) failure to manage business
risks, including in connection with use of models, use of
derivatives, or maintaining appropriate policies and guidelines,
(31) changes in capital and credit markets, including
interbank funding, as well as customer deposits, which provide the
liquidity and capital required to fund our operations and
(32) 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.
This document may contain inactive textual addresses to internet
websites operated by us and third parties. Reference to such
websites is made for information purposes only, and information
found at such websites is not incorporated by reference into this
document. ING does not make any representation or warranty with
respect to the accuracy or completeness of, or take any
responsibility for, any information found at any websites operated
by third parties. ING specifically disclaims any liability with
respect to any information found at websites operated by third
parties. ING cannot guarantee that websites operated by third
parties remain available following the publication of this
document, or that any information found at such websites will not
change following the filing of this document. 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 off er to sell, or a
solicitation of an off er to purchase, any securities in the United
States or any other jurisdiction.
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