ING Group Q1 net profit rises 7% on strong fee income, announces €1 bln buyback

ING Groep NV

30/04/2026 06:09

Overview

Netherlands banking group's Q1 net profit rose 7% yr/yr, driven by customer and fee growth

Pretax profit for Q1 up 6% yr/yr; operating expenses stable yr/yr, down from prior qtr

Company announced €1.0 bln share buyback

Outlook

Company says it is on track to achieve its upgraded outlook from 2025 full-year results

ING notes ongoing geopolitical and macroeconomic uncertainty, including energy-security risks in the Middle East

Result Drivers

CUSTOMER AND BALANCE GROWTH - ING said commercial net interest income rose due to sustained growth in customer balances and a higher liability margin

FEE INCOME - Strong fee income growth in both Retail and Wholesale Banking, driven by a growing customer base and higher trading activity in Retail, and strong deal flow in Wholesale

LENDING AND DEPOSIT GROWTH - Retail and Wholesale Banking lending volumes and deposits increased, with mortgage production strong in several countries and higher balances in Payments & Cash Management

Company press release: ID:nGNE5vXXfy

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Total income
EUR 5.82 bln
Q1 Net Income
EUR 1.56 bln
Q1 CET1 Capital Ratio
13%
Q1 Net Fee Income
EUR 1.24 bln
Q1 Pretax Profit
EUR 2.26 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 €27.50, about 15.2% above its April 29 closing price of €23.88

The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 10 three months ago

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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.)