ING Group 2022 SREP Process Completed

ING Group has been notified of the European Central Bank (ECB) decision on the 2022 Supervisory Review and Evaluation Process (SREP), based on which it has taken a decision on ING’s prudential requirements, including capital requirements for 2023.

ING Group’s fully loaded CET1 requirement is 10.96%, reflecting a countercyclical capital buffer of 47bps (fully loaded per Q3 2023). The current countercyclical capital buffer for ING Group is 4bps. In terms of Pillar 2 additional own funds requirement for ING Group, the outcome remained unchanged at 175bps, applicable per 1 January 2023.

As of 30 September 2022, ING’s fully-loaded CET1 ratio was 14.7%, well in excess of the regulatory requirements.

Further information on ING’s capital requirements can be found in the ING Group Credit Update presentation on the Investor Relations section of our website, www.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 more than 58,000 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 is an integral part of ING’s strategy, evidenced by ING’s leading position in sector benchmarks. ING’s Environmental, Social and Governance (ESG) rating by MSCI was affirmed ‘AA’ in September 2022. As of August 2022, Sustainalytics considers ING’s management of ESG material risk to be ‘strong’, and in June 2022 ING received an ESG rating of ‘strong’ from S&P Global Ratings. ING Group shares are also included in major sustainability and ESG index products of leading providers Euronext, STOXX, Morningstar and FTSE Russell.

Source – ING