Exceptional Deposit and Mortgage Growth
ING reported significant growth in deposits and mortgage volumes, with net core lending and retail banking growing by €8.6 billion, primarily driven by mortgages.
Increase in Fee Income
Fee income increased by 10% compared to the first quarter of last year, driven by structural revenue growth in investment products, insurance, and daily banking fees.
Strong Capital Position
ING's CET1 ratio stood at 13.6%, and they announced a €2 billion share buyback, reflecting strong capital allocation towards retail banking.
Sustainable Finance Achievement
The volume of sustainable finance mobilized rose 23% to €30 billion, marking ING as the first global systematically important bank with climate targets validated by the Science-based Targets Initiative.
Positive Outlook for Mortgages
ING expects continued growth in the mortgage market, with a current market share of 17% in new production in the Netherlands, up from 10% a few years ago.