ING: net profit of €1.85 billion in third quarter 2026, up 3.5%
In the third quarter of 2026, ING increased volumes across both business lines: €11.0 billion in net additional credits and €12.1 billion in net deposits. The base of primary mobile customers grew by 259,000, with contributions from Germany, the Netherlands and Romania highlighted by the group.
This activity drove total revenues up 5.6% year-on-year. According to the bank, this increase was partly offset by a decline in other revenues, attributed to increased interest rate volatility. The cost of risk also included an additional provisioning for management.
Pre-tax profit up 5.7%, at €2,705 million
Net profit for the third quarter of 2026 stood at €1,850 million, up 3.5% year-on-year. Pre-tax profit increased 5.7%, to €2,705 million. Return on tangible equity (ROTE) reached 16.3% for the quarter and 14.8% on average over four quarters.
Commissions increased 9.3% year-on-year, to €1,273 million, and commercial interest revenues recorded double-digit growth, driven according to the group by the increase in customer volumes. The group believes that the effects of interest rate volatility on other revenues should reverse over time.
Operating expenses increased 1.1% compared to the previous quarter. The rise in personnel costs, linked to wage inflation, was partly mitigated by ongoing cost-saving measures. Excluding exceptional items, the cost of risk remained significantly below the cycle average of 20 basis points of average credit volumes.
Retail banking drives credit, corporate banking deposits
In retail banking, the mortgage credit portfolio increased by €6.9 billion, contributing to a rise in credits of €8.5 billion, or 6% on an annualized basis. Deposits increased by €2.7 billion, despite seasonal summer holiday spending.
Part of savings was directed towards investment products. Assets under management and online brokerage increased by €6.7 billion during the quarter, to €328 billion, representing a 22% increase year-on-year.
In corporate banking, credits increased by €2.5 billion and deposits by €9.4 billion, representing the bulk of the group's net collection for the period. Commissions from this business line progressed 9.4% year-on-year, with contributions from everyday banking and trade finance.
The group also announced a refocus and simplification of this business line, presented as a new strategic step aimed at facilitating relationships with its customers.
CET1 ratio at 13.3% and €1.9 billion distribution announced
The CET1 capital ratio stood at 13.3%. During the quarter, ING finalized two significant risk transfer operations, one in corporate banking and one in retail banking. They resulted in a total relief of €3.0 billion in risk-weighted assets.
After completing the share buyback program announced in April 2026, the group announced today a new distribution of €1.9 billion. The day before, ING Groep had indicated that the European Central Bank was maintaining its capital requirement at 170 basis points under Pillar 2 for 2027.
Management stated it is on track to achieve its 2026 outlook and will present a strategy update at an investor day scheduled for June 14, 2027. The quarter resulted in a pre-tax profit of €2,705 million and a CET1 ratio of 13.3%, which support the distribution of €1.9 billion.
