Report of Foreign Issuer (6-k)
August 03 2016 - 6:08AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
For 3 August, 2016
Commission File Number 1-14642
ING Groep N.V.
Bijlmerplein 888
1102 MG Amsterdam
The Netherlands
Indicate by check mark whether the registrant
files or will file annual reports under cover of Form 20-F or Form 40-F.
Form
20-F
x
Form
40-F
¨
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T rule 101(b)(1):
¨
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T rule 101(b)(7):
¨
Indicate by check mark whether the registrant
by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to rule
12g3-2(b) under the Securities Exchange Act of 1934.
Yes
¨
No
x
If “Yes” is marked, indicate
below the file number assigned to the registrant in connection with Rule 12g3-2(b).
This Report contains a copy of the following:
The Press Release issued on 3 August, 2016
Page 1 of 5
ING 2Q16 underlying net result EUR 1,417 million
ING records strong commercial growth and continued progress on Think Forward strategic priorities
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ING gained approximately 650,000 new retail customers and established roughly 350,000 primary relationships in 1H16
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Core lending grew by EUR 14.8 billion in 2Q16 as ING continues to provide financing to clients across geographies and sectors
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ING Bank 2Q16 underlying net result EUR 1,417 million, up 26.7% year-on-year and 68.3% higher versus 1Q16
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Strong results driven by continued lending growth at healthy margins and improved performance in Financial Markets
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Results include a gain on the sale of Visa shares, as well as certain one-off expense items that offset each other in the quarter
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Robust ING Group fully-loaded CET1 ratio of 13.1%; ING declares 2016 interim dividend of EUR 0.24 per ordinary share
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ING Group's fully-loaded CET1 ratio rose to 13.1%, excluding the EUR 2,552 million net profit from the first half of 2016
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CEO statement
"ING's Think Forward strategy and customer-first approach continue to generate strong commercial
growth and quarterly net profits," said Ralph Hamers, CEO of ING Group. "During the first six months of 2016, we gained
approximately 650,000 new retail customers and around 350,000 customers chose ING as their primary bank. I'm confident that our
ability to deliver an outstanding banking experience will allow us to retain and empower our growing customer base in the years
ahead."
"Throughout the business cycle, we strive to support our clients' financing needs
and to drive sustainable progress through our business activities. Our core lending book grew by EUR 14.8 billion during the second
quarter of 2016, with growth well diversified across geographies and industry sectors. Our financing of sustainable projects and
clients that are environmental outperformers rose to EUR 27.8 billion, including deals in renewable energy and sustainable buildings
in the second quarter."
"During the second quarter of 2016, our focus in digital banking and innovation
concentrated on providing customers with easy-to-use money-management tools. We added a forecasting feature to our mobile banking
app in the Netherlands, called 'Kijk Vooruit' (or 'Look Ahead'), which enables users to gain more control over their finances through
an overview of planned and predicted transactions. ING in Spain launched a digital financial advisor called 'My Money Coach' that
helps customers to actively manage their current and future personal finances. This initiative leveraged the technology of 'Coach
Epargne' (or 'Savings Coach'), which debuted in France last quarter, accelerating the expansion of this successful innovation."
"Building on our proven track record for collaboration, ING recently joined forces
with another leading Belgian bank to launch an integrated mobile payments and loyalty platform. This solution merges the loyalty
platforms of both banks, with ING's Payconiq app chosen as the underlying mobile payments system. The result is a single, streamlined
platform that enhances the user experience for over one million consumers and 6,500 retailers who use the existing services."
"All of our business segments performed well, contributing to ING Bank's strong
quarterly underlying result before tax of EUR 2,009 million. Loan growth continued at resilient margins, supporting a solid net
interest result, despite the low interest rate environment. The pre-tax result also reflects a much improved quarter in our Financial
Markets business, as well as a onetime gain on the sale of Visa shares. Operating expenses were under control, consistent with
our ongoing cost-containment programmes, and risk costs were low at 39 basis points of average risk-weighted assets. ING Bank's
year-to-date underlying return on IFRS-EU equity was 10.8% in line with our Ambition 2017 target range."
"ING Group's fully-loaded CET1 ratio rose to 13.1%, excluding the EUR
2,552 million net profit from the first half of 2016. The results of last week's EBA stress test reaffirm the resilience of our
business model and the strength of ING's capital base. We are committed to maintaining a robust fully-loaded Group CET1 ratio
in excess of prevailing requirements. Today, we declare an interim cash dividend of EUR 0.24 per ordinary
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Page 2 of 5
share, which is equal to the interim dividend
paid over the first half of 2015."
"We made excellent progress on our Think Forward priorities during the first
six months of 2016, which is reflected in positive customer feedback and our successful acquisition of new customers. Looking forward
to the remainder of this year, we will continue to accelerate the execution of our strategy, while remaining vigilant for political
and regulatory uncertainties."
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Further information
All publications related to ING's 2016 Second Quarter can be found at
www.ing.com/2q16
,
including a video with Ralph Hamers, which is also available at
YouTube
.
Additional financial information is available at
www.ing.com/qr
:
- ING Group historical trend data
- ING Group analyst presentation (also available via
SlideShare
)
For further information on ING, please visit
www.ing.com
. Frequent news updates
can be found in the
Newsroom
or via the
@ING_news
Twitter feed. Photos of ING operations, buildings and its executives
are available for download at
Flickr
. Video is available on
YouTube
. Footage (B-roll) of ING is available via
videobankonline.com
,
or can be requested by emailing
info@videobankonline.com
. ING presentations are available at
SlideShare
.
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Investor conference call, media conference call and webcasts
Ralph Hamers, Patrick Flynn and Wilfred Nagel will discuss the results in an analyst
and investor conference call on 3 August 2016 at 9:00 a.m. CET. Members of the investment community can join the conference call
at +31 20 794 8500 (NL), +44 20 7190 1537 (UK) or +1 480 629 9031 (US) and via live
audio webcast at
www.ing.com
.
Ralph Hamers, Patrick Flynn and Wilfred Nagel will also discuss the results in a Media
Conference call conference on 3 August 2016 at 11:00 a.m. CET. Journalists are welcome to join the conference call via +31 20 531 5871 (NL)
or +44 203 365 3210 (UK). The Media Conference Call can also be followed via live audio webcast at
www.ing.com
.
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Investor enquiries
T: +31 20 576 6396
E:
investor.relations@ing.com
Press enquiries
T: +31 20 576 5000
E:
media.relations@ing.com
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ING PROFILE
ING is a global financial institution with a strong European base, offering banking
services through its operating company ING Bank. The purpose of ING Bank is empowering people to stay a step ahead in life and
in business. ING Bank's more than 52,000 employees offer retail and commercial banking services to customers in over 40 countries.
ING Group shares are listed (in the form of depositary receipts) on the exchanges of
Amsterdam (INGA NA, INGA.AS), Brussels and on the New York Stock Exchange (ADRs: ING US, ING.N).
Sustainability forms an integral part of ING's corporate strategy, which is evidenced
by ING Group shares being included in the FTSE4Good index and in the Dow Jones Sustainability Index (Europe and World) where ING
is among the leaders in the Banks industry group.
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IMPORTANT LEGAL INFORMATION
Elements of this press release contain or may contain information about ING Groep N.V.
and/ or ING Bank N.V. within the meaning of Article 7(1) to (4) of EU Regulation No 596/ 2014.
ING Group's annual accounts are prepared in accordance with International Financial
Reporting Standards as adopted by the European Union ('IFRS-EU'). In preparing the financial information in this document, except
as described otherwise, the same accounting principles are applied as in the 2015 ING Group consolidated annual accounts. All figures
in this document are unaudited. Small differences are possible in the tables due to rounding.
Certain of the statements contained herein are not historical facts, including,
without limitation, certain statements made of future expectations and other forward-looking statements that are based on management's
current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance
or events to differ materially from those expressed or implied in such statements. Actual results, performance or events may differ
materially from those in such statements due to, without
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Page 3 of 5
limitation: (1) changes in general economic conditions, in particular
economic conditions in ING's core markets, (2) changes in performance of financial markets, including developing markets, (3) consequences
of a potential (partial) break-up of the euro, (4) potential consequences of European Union countries leaving the European Union,
(5) changes in the availability of, and costs associated with, sources of liquidity such as interbank funding, as well as conditions
in the credit markets generally, including changes in borrower and counterparty creditworthiness, (6) changes affecting interest
rate levels, (7) changes affecting currency exchange rates, (8) changes in investor and customer behaviour, (9) changes in general
competitive factors, (10) changes in laws and regulations, (11) changes in the policies of governments and/or regulatory authorities,
(12) conclusions with regard to purchase accounting assumptions and methodologies, (13) changes in ownership that could affect
the future availability to us of net operating loss, net capital and built-in loss carry forwards, (14) changes in credit ratings,
(15) ING's ability to achieve projected operational synergies and (16) the other risks and uncertainties detailed in the most recent
annual report of ING Groep N.V. (including the Risk Factors contained therein) and ING's more recent disclosures, including press
releases, which are available on
www.ING.com
. Any forwardlooking statements made by or on behalf of ING speak only as of
the date they are made, and, ING assumes no obligation to publicly update or revise any forward-looking statements, whether as
a result of new information or for any other reason.
This document does not constitute an offer to sell, or a solicitation of an offer to
purchase, any securities in the United States or any other jurisdiction.
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Full ING 2Q16 Results Press Release (PDF): http://hugin.info/130668/R/2032745/756724.pdf
Page 4 of 5
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
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ING Groep N.V.
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(Registrant)
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By:
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/s/ P. Jong
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P. Jong
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Global Head of Communications
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By:
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/s/ C. Blokbergen
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C. Blokbergen
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Head Legal Department
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Dated: 3 August
,
2016
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