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Profile & Fundamentals

ING Profile & Fundamentals

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Company and Market Context

Company Profile & Ownership

ING Groep N.V. provides various banking products and services in the Netherlands, Belgium, Germany, rest of Europe, and internationally. The company operates through five segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking. It accepts current and savings accounts; and time deposits. The company also offers business lending products; SME loans; consumer lending products, such as residential mortgage loans and other consumer lending loans; and mortgages. In addition, it provides working capital solutions; debt and equity market solutions; various loans; payments; and cash management, trade and corporate finance, and treasury services, as well as savings, investment, insurance, and digital banking services. The company serves individual customers, corporate clients, and financial institutions. ING Groep N.V. was founded in 1762 and is headquartered in Amsterdam, the Netherlands.

Company profile record

ING Groep NV

Common Stock · Financials · Diversified Banks

Official website

Company

Company / asset: ING Groep NV
Security type: Common Stock
Sector: Financials
Industry: Diversified Banks
HQ: 🇳🇱 Netherlands
Head office: Bijlmerdreef 106, Amsterdam, Netherlands, 1102 CT

Leadership & scale

Chief executive: Mr. Steven J. A. van Rijswijk
CEO year born: 1970
Full-time employees: 60K
Fiscal year end: December

Fundamentals snapshot

Updated 2026-09-12

Market Cap: EUR 91.0B
P/E: 13.6x
Revenue (Q2 26): EUR 6.3B
Profit (Q2 26): EUR 1.9B
Dividend Yield: 3.5%
Revenue (FY 25): EUR 23.0B
Shares in public float: 2.9B
Insider ownership: 0.72%

Reporting & identifiers

Symbol: INGA.AMS
Listing: 🇳🇱 Netherlands | Dividend Tax: 15%
Ticker Currency: EUR
Income Statement Currency: EUR
Balance Sheet Currency: EUR
Cash Flow Currency: EUR
EPS Currency: EUR
Contract Type: SPOT
ISIN: NL0011821202
Asset ID: equity_3a9fecbb-2fa3-50ba-ab14-06d206ad3cbb

Ownership

Shares Outstanding

Shares outstanding

Annual reported shares outstanding. Values in shares.

Earnings, Profitability & Valuation

Earnings & Revenue

AI Review

ING's financial results reflect strong operational momentum, highlighted by second-quarter 2026 net profit of EUR 1.95 billion and trailing twelve-month net income reaching approximately EUR 6.8 billion. This top-line durability stems from resilient net interest income following central bank rate hikes, accompanied by double-digit expansion in fee-generating investment and wealth services. These achievements confirm that the bank has successfully decoupled from the zero-rate stagnation that constrained European banking for a decade. However, this earnings strength represents the crest of the profit cycle rather than a permanent growth accelerator. While recurring customer revenues remain healthy near EUR 24 billion annually, sequential margin expansion is leveling off. Future earnings growth must increasingly rely on organic balance-sheet expansion and cost containment rather than unearned interest rate windfalls.

Revenue, Net Income, and Free Cash Flow

Revenue
Free cash flow
Net income

Annual reported financial results, converted using the statement's recorded USD conversion. Missing values are omitted. Values in USD.

Valuation

Historical P/E Ratio

Published P/E

Published valuation snapshots. Trailing four-quarter earnings where available; annual earnings otherwise. Non-positive earnings are omitted. Values in times earnings.

Profitability & Margins

AI Review

Profitability margins have reached multi-year highs, evidenced by a return on tangible equity reaching 17.0% in the second quarter of 2026 and operating profit margins hovering near 40%. Widening asset-liability spreads generated by structural deposit replication, paired with a branch-light operating structure that holds the cost-to-income ratio near 53%, produced exceptional operating leverage as European benchmark interest rates normalized. Nonetheless, these stellar margins are approaching their natural ceiling. As retail savers demand higher interest rates on deposits and loan-loss provisions normalize from historically depressed levels, net will experience gentle compression. Sustainable through-the-cycle profitability will settle around a healthy, albeit lower, between 13.5% and 14.5%.

Profitability Margins

Gross margin
Operating margin
Net margin
Free cash flow margin

Annual gross, operating, net income and free cash flow divided by revenue for matching reporting dates. Values in percent.

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Reported Data Tables — chart preview

The following tables contain the same values as the financial charts above. Monetary values are USD; margins are percentages. Missing inputs are not estimated. Use is subject to the iPulse AI Terms of Service and applicable source rights.

Source: eodhd. Statement snapshots with chart transformations and ratios calculated by iPulse AI. Snapshot retrieved 2026-09-15.

Annual earnings and profitability
Period end	Revenue	Free cash flow	Net income	Gross margin	Operating margin	Net margin	Free cash flow margin
2016-12-31	18,429,160,000	8,694,120,000	4,930,060,000	97.37	40.95	26.75	47.18
2017-12-31	20,936,860,000	-6,565,230,000	5,836,950,000	101.13	40.37	27.88	-31.36
2018-12-31	19,973,940,000	7,557,060,000	5,361,420,000	100	39.02	26.84	37.83
2019-12-31	20,228,320,000	14,224,000,000	5,354,720,000	94.72	37.3	26.47	70.32
2020-12-31	21,739,180,000	14,805,920,000	3,031,700,000	81.97	26.3	13.95	68.11
2021-12-31	29,392,620,000	-17,244,780,000	5,444,640,000	75.65	27.18	18.52	-58.67
2022-12-31	35,958,420,000	-12,137,010,000	3,931,180,000	50.77	18.39	10.93	-33.75
2023-12-31	19,389,700,000	5,310,800,000	8,015,700,000	100	59.76	41.34	27.39
2024-12-31	23,520,640,000	-58,393,920,000	6,647,680,000	74.84	41.84	28.26	-248.27
2025-12-31	26,950,950,000	-223,470,000	7,403,760,000	94.34	39.71	27.47	-0.83

Published valuation snapshots
Period end	P/E (times earnings)	Earnings basis
2025-12-31	11.06	Trailing four quarters
2024-12-31	7.41	Trailing four quarters
2023-12-31	6.21	Trailing four quarters
2022-12-31	11.22	Annual net income
2021-12-31	9.68	Annual net income

Shares outstanding — chart values
Reporting date	Shares outstanding
2017-01-01	3,903,846,200
2018-01-01	3,857,575,800
2019-01-01	3,826,087,000
2020-01-01	3,900,668,600
2021-01-01	3,775,764,300
2022-01-01	3,619,144,900
2023-01-01	3,343,623,000
2024-01-01	3,130,000,000
2025-01-01	2,916,000,000
2026-01-01	2,868,700,000

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Earnings, Profitability & Valuation
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Balance Sheet
- Balance sheet AI review
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Dividends & Actions
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