ING Posts Net Result of €1.85 Billion in Third Quarter, Up 3.5% Year on Year
Key Facts
ING Group posted a net result of €1.85 billion in the third quarter of 2026, up 3.5% year on year, according to the bank's statement. Pre-tax profit rose 5.7% to €2.705 billion over the same period. Return on tangible equity was 16.3% for the quarter, while its four-quarter rolling average reached 14.8%. The chief executive said the bank "remains on track to meet its 2026 guidance." He added that customer and business momentum continued despite geopolitical uncertainty and market volatility.
The bank added 259,000 mobile primary customers during the quarter, with strong contributions from Germany, the Netherlands and Romania. Net core lending growth was €11 billion, while net core deposits rose €12.1 billion. In retail banking, the mortgage portfolio grew by €6.9 billion. This contributed to an €8.5 billion increase in retail lending, equivalent to calculated annual growth of 6%. Assets under management and online brokerage also increased by €6.7 billion during the quarter to €328 billion, up 22% year on year.
In wholesale banking, lending increased by €2.5 billion and deposits by €9.4 billion, while fee income rose 9.4% year on year. ING said it would simplify the structure of the unit and rename it "Corporate and Institutional Banking." The move aims to make it easier for customers to do business with the bank and strengthen relationships with them, within a more streamlined structure, according to the bank. The source did not disclose a figure for job reductions or confirm layoffs. The initiative comes as the unit posted growth in lending, deposits and fees during the quarter.
The bank said the decline in other income reflected the effects of higher interest-rate volatility, and that these effects "are expected to reverse over time." Operating expenses rose 1.1% compared with the previous quarter. ING attributed the increase to higher staff costs linked to wage inflation, partly offset by the continued implementation of cost-reduction initiatives. Risk costs, excluding non-recurring items, remained below their historical average of 20 basis points of average customer lending. According to the bank's presentation, these indicators reflect mixed performance across income and cost items during the quarter.
ING reported pre-tax profit of €2.919 billion in the second quarter, up 23% year on year and 29% quarter on quarter, with a CET1 capital ratio of 13.1%. In that quarter, the bank raised its 2026 and 2027 guidance for fee income and total income. It also forecast at the time that return on tangible equity would exceed 15% in 2026 and 16% in 2027. In the third quarter, the chief executive said the group remained on track to meet its 2026 guidance. He pointed to continued customer and business momentum despite geopolitical uncertainty and market volatility.
In the market, ING shares closed at €32.89 on October 28, 2026, according to EL7 data. The bank said it had completed the buyback programme announced in April 2026 before announcing the new distribution. The statement did not provide additional figures on the distribution in the information available here. ING set June 14, 2027, as the date for a strategy update at a Capital Markets Day. The bank said it looked forward to presenting the update on that date.