Netherlands' ING Q2 net profit rises 16% on expanded customer base

ING Groep

30/07/2026 06:09

Overview
Netherlands-based banking group's Q2 net profit rose 16% yr/yr to €1.95 bln
Total income for Q2 rose 10% yr/yr, with fee income up 14%
Mobile primary customer base expanded by 377,000 in the quarter

Outlook
ING upgrades 2026 and 2027 outlook for fees and total income
Company expects ROTE to exceed 15% in 2026 and 16% in 2027
ING says it remains well positioned amid ongoing market uncertainty

Result Drivers
CUSTOMER GROWTH - Co said Q2 results were driven by an expanded customer base, with mobile primary customers up 377,000, and higher customer balances
LENDING & DEPOSIT GROWTH - Retail Banking lending rose €12.1 bln, with €7.1 bln in mortgages and €4.2 bln in business loans; retail deposits grew €16.7 bln, supported by deposit campaigns
FEE INCOME INCREASE - Fee income rose 14% yr/yr, supported by a larger customer base and increased customer activity, including more active investment product customers and higher assets under management

Company press release: ID:nGNE1XmKkM

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Total income
 
EUR 6.28 bln
 
Q2 Net Income
 
EUR 1.95 bln
 
Q2 CET1 Capital Ratio
 
13.10%
 
Q2 Net Fee Income
 
EUR 1.28 bln
 
Q2 Pretax Profit
 
EUR 2.92 bln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", 7 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "buy"
Wall Street's median 12-month price target for ING Groep NV is €30.35, about 5.6% above its July 29 closing price of €28.75
The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 9 three months ago

Reuters Recommended Reads
July 30 - France's Societe Generale Q2 net income jumps 23% on retail banking recovery
July 29 - European bank rally rolls on as Deutsche Bank, UBS report profit jump
July 29 - Intesa says it could beat improved profit outlook, won't raise MPS bid

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)