EarningsQ3 2026 Earnings Report
MX:INGN Q3 2026 EPS Results
Actual EPS$13.71
Consensus EPS$14.46
Beat/MissMissed by -$0.76
One Year Ago EPS$13.10
MX:INGN Q3 2026 Revenue Results
Actual Revenue$135.28B
Expected Revenue$133.36B
Beat/MissBeat by +$1.92B
YoY Revenue Growth+3.94%
Earnings Announcement Details
QuarterQ3 2026
Date10/29/2026
TimeBefore Open
Conference CallThursday, October 29, 2026
MX:INGN Upcoming Earnings
ING Groep's next earnings date is estimated for January 28, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
MX:INGN Q3 2026 Earnings Call
0:00 / 0:00
Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was strongly positive. ING reported broad-based customer, loan, deposit, fee income and profitability growth; improved capital efficiency; a 13.3% CET1 ratio; and a EUR 1.9 billion additional distribution. Management also raised or exceeded several medium-term targets and described continued strategic momentum. The main negatives were higher restructuring charges and planned redundancies, elevated reported risk costs driven by an IFRS model update, persistent deposit competition, a slight lending-margin decline and some volatility-related pressure on other income. These challenges were presented as either largely one-off, manageable or linked to investments and restructuring intended to support future efficiency.Company Guidance
Strong Customer and Primary Banking Growth
ING added 259,000 mobile primary customers in the third quarter, bringing growth over the past 12 months to more than EUR 1.1 million and ahead of the Capital Markets Day target set in 2024. Retail Banking added 900,000 customers over the past 12 months, reaching more than EUR 41 million in total, while 40% of customers were described as mobile primary customers.
Broad-Based Balance Sheet Growth
Loan growth was 6% annualized and customer deposits also grew 6% annualized. Net core lending increased by EUR 11 billion, including EUR 8.5 billion in Retail Banking and EUR 2.5 billion in Wholesale Banking. Net core deposits increased by EUR 12.1 billion, including EUR 2.7 billion in Retail Banking and EUR 9.4 billion in Wholesale Banking.
Income and Profitability Expansion
Total income increased 6% year-on-year, while income growth over the last 12 months was 6.6%. Cost growth remained contained at around 2%, producing positive operating jaws of more than 4 percentage points. Third-quarter return on tangible equity was 16%, and the four-quarter rolling ROTE improved by 2 percentage points year-on-year.
Fee Income Momentum
Fee income increased 9% year-on-year, supported by customer growth, higher engagement and cross-selling in both Retail and Wholesale Banking. Retail Banking fee income rose 10% year-on-year and Wholesale Banking fee income rose 9%. ING expects full-year fee income of EUR 5 billion, EUR 400 million higher year-on-year and one year ahead of its original plan.
Investment Products and Assets Under Management Growth
ING cross-sold investment products to an additional 100,000 customers during the third quarter. Assets under management recorded a EUR 20 billion year-on-year net inflow, and 5.4 million customers use ING's investment capabilities, representing about 14% of the total customer base.
Deeper Customer Relationships and Higher Customer Value
Customers with primary relationships were described as 7x more loyal, having 4x more digital interactions and being 2x more profitable. Average fees per private individual customer increased 14%, while average funds entrusted per customer increased through higher deposits and assets under management.
Commercial Net Interest Income Growth
Commercial NII increased by EUR 161 million quarter-on-quarter and was 13% higher than last year. Lending NII rose by EUR 28 million quarter-on-quarter, while liability NII increased by EUR 135 million, supported by higher deposit volumes and a 6 basis point improvement in the liability margin.
Positive Full-Year NII and Margin Outlook
ING expects full-year commercial NII to range between EUR 16.8 billion and EUR 17 billion, with the outlook now weighted toward the upper end of the range. The full-year liability margin is expected to be around 110 basis points, supported by the repricing of the short- and long-term portions of the replicating portfolio.
Scalable Operating Model and Productivity Gains
ING said the vast majority of key customer journeys are fully straight through and require no human intervention. Its global hubs network supports productivity and operational resilience. Year-on-year headcount declined 1.5%, and management said it was significantly front-running its 2027 productivity targets.
Digital Investment Platform Expansion
ING's global investment platform is live in the Netherlands, Belgium, Italy and Romania, bringing investment capabilities together on a single platform. Management said the platform enables faster product development, a more consistent customer experience and greater responsiveness across markets.
Capital Generation and Shareholder Distribution
ING generated around 80 basis points of CET1 capital in the third quarter and improved its CET1 ratio by 30 basis points to 13.3%. The bank announced an additional EUR 1.9 billion distribution, consisting of a EUR 1.65 billion share buyback commencing immediately and EUR 250 million of cash paid in January.
Risk-Weighted Asset Efficiency and SRT Execution
Risk-weighted assets decreased by EUR 4.3 billion in the quarter, including EUR 3 billion of relief from SRT transactions across Wholesale and Retail Banking. ING freed up 16 basis points of its CET1 ratio through its SRT program in 2026 and said the transactions completed in 2025 and 2026 represented total relief of 28 basis points.
Raised Medium-Term Financial Expectations
ING is on track to add 1 million mobile primary customers in 2026. Total income is expected to exceed the original 2027 target by at least EUR 1 billion, operating expenses are expected to be around EUR 300 million below the original 2027 target, and ROTE is expected to exceed the 2027 Capital Markets Day target by 2 percentage points to above 16%.
Wholesale Banking Strategic Simplification
ING announced a more streamlined Wholesale Banking structure, with the business to be renamed Corporate and Institutional Banking. The changes are intended to simplify client interactions, strengthen relationship management and improve value creation, while the bank continues diversifying toward transaction services and financial markets.
Wholesale Banking Deposit and Franchise Development
Wholesale Banking delivered EUR 9.4 billion of net core deposit growth. Management said the inflow reflected a broader strategy to increase transaction services, financial markets and deposit-gathering capabilities. The bank serves more than 4,000 large corporates and financial institutions across 36 countries.
AI and Automation Initiatives
ING said AI and generative AI are being used in customer experience, coding and productivity initiatives. Agentic mortgages launched in the Netherlands reduced approval time for more complicated mortgages from 7 days to 5 days, while simple digital mortgages in countries such as Germany can be approved in approximately 30 minutes on average.
Strong Loan Book Quality and Capital Resilience
Excluding the IFRS model update and SRT-related charges, risk costs were well below the through-the-cycle average of 20 basis points. Stage 3 individual risk costs remained modest, and Stage 1 and Stage 2 risk costs were insignificant for the quarter. Management expressed confidence in the strength and quality of the loan book.
Diversified Investment Portfolio
ING described its EUR 125 billion investment portfolio as diversified and high quality, with limited sensitivity to market developments because interest-rate risk is economically hedged and exposure is primarily to credit spreads. Management said there was no material impact on CET1 from the portfolio in the quarter.
MX:INGN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed