ING GROEP NV Business Summary

ING Groep NV (ING) is a global financial services leader that generates revenue primarily through net interest income (NII) from its extensive lending portfolio and a growing stream of fee and commission income derived from asset management, insurance brokerage, and transaction services. The company’s business model is structured into two primary segments: Retail Banking, which serves over 15 million mobile-primary customers across the Benelux region, Germany, and high-growth markets, and Wholesale Banking, its highest-earning division focused on corporate finance and sustainable lending. ING differentiates itself through a "digital-first" strategy, leveraging its OneApp platform and GenAI integration to maintain a superior cost-to-income ratio compared to traditional peers. Its primary competitors include BNP Paribas, Banco Santander, ABN AMRO, and Deutsche Bank. Within this landscape, ING is positioned as a dominant market leader in the Netherlands and Belgium while acting as a disruptive, digital-led challenger in broader European and Australian markets. Established in 1991 through the merger of NMB Postbank Groep and Nationale-Nederlanden, ING is led by CEO Steven van Rijswijk, a 30-year company veteran who previously served as Chief Risk Officer. The executive leadership includes CFO Tanate Phutrakul, Chief Technology Officer Görkem Köseoğlu, and Chief Operations Officer Marnix van Stiphout. Ljiljana Čortan currently serves as Chief Risk Officer but is transitioning to lead the Wholesale Banking division effective February 24, 2026, with Ida Lerner slated to join the Management Board as the incoming CFO in April 2026. The company is overseen by a Supervisory Board chaired by Karl Guha. As a publicly traded entity, ING’s ownership is highly diversified among major institutional investors, including BlackRock and Norges Bank Investment Management, reinforcing its status as a systemically important financial institution in the Eurozone.