ING publishes 2020 Annual Report
ING has today published its 2020 ING Group Annual Report, giving
stakeholders insight into its business activities, performance and
strategic direction during an extraordinary year dominated by the
coronavirus pandemic. In addition to its financial statements, the
report illustrates how ING put its strategy into action on its path
to becoming a leading data-driven digital bank and how it creates
value for its stakeholders.
It highlights ING’s response to Covid-19 and the actions it took
to support its customers, employees and local communities through
the crisis. And it sheds light on other market trends and
developments such as the negative interest environment, society’s
growing reliance on digital banking, climate risk and ING’s ongoing
commitment to being a safe, secure and compliant bank.
The report also features interviews with ING’s chief executive
officer Steven van Rijswijk and Hans Wijers, chairman of the
Supervisory Board, who look back on the year’s highlights,
challenges and opportunities.
The Annual Report is available on a special annual report
landing page on ING’s website ing.com, that also includes links to
the 2020 ING Bank Annual Report and other documents of the 2020
annual reporting suite. At request the Annual Report is also
available in print, free of charge, at ING’s corporate head
office.
Note for editorsFor 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. ING presentations are available at SlideShare.
Press enquiries |
|
Investor enquiries |
Raymond Vermeulen |
|
ING Group Investor Relations |
+31 20 576 6369 |
|
+31 20 576 6396 |
Raymond.Vermeulen@ing.com |
|
Investor.Relations@ing.com |
ING PROFILEING 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 57,000 employees offer retail and wholesale
banking services to customers in over 40 countries.
ING Group shares are listed 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 strategy,
evidenced by ING’s leading position in sector benchmarks by
Sustainalytics and MSCI and our ‘A-list’ rating by CDP. ING Group
shares are included in major sustainability and Environmental,
Social and Governance (ESG) index products of leading providers
STOXX, Morningstar and FTSE Russell. In January 2021, ING received
an ESG evaluation score of 83 ('strong') from S&P Global
Ratings.
IMPORTANT LEGAL INFORMATIONElements 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.
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 a number of factors, including, without
limitation: (1) changes in general economic conditions, in
particular economic conditions in ING’s core markets, including
changes affecting currency exchange rates, (2) the effects of
the Covid-19 pandemic and related response measures, including
lockdowns and travel restrictions, on economic conditions in
countries in which ING operates, on ING’s business and operations
and on ING’s employees, customers and counterparties,
(3) changes affecting interest rate levels, (4) any
default of a major market participant and related market
disruption, (5) changes in performance of financial markets,
including in Europe and developing markets, (6) political
instability and fiscal uncertainty in Europe and the United States,
(7) discontinuation of or changes in ‘benchmark’ indices,
(8) inflation and deflation in our principal markets,
(9) changes in conditions in the credit and capital markets
generally, including changes in borrower and counterparty
creditworthiness, (10) failures of banks falling under the
scope of state compensation schemes, (11) non-compliance with
or changes in laws and regulations, including those financial
services and tax laws, and the interpretation and application
thereof, (12) geopolitical risks, political instabilities and
policies and actions of governmental and regulatory authorities,
(13) legal and regulatory risks in certain countries with less
developed legal and regulatory frameworks, (14) prudential
supervision and regulations, including in relation to stress tests
and regulatory restrictions on dividends and distributions,, (also
among members of the group), (15) regulatory consequences of
the United Kingdom’s withdrawal from the European Union, including
authorizations and equivalence decisions, (16) ING’s ability
to meet minimum capital and other prudential regulatory
requirements, (17) changes in regulation of US commodities and
derivatives businesses of ING and its customers,
(18) application of bank recovery and resolution regimes,
including write-down and conversion powers in relation to our
securities, (19) outcome of current and future litigation,
enforcement proceedings, investigations or other regulatory
actions, including claims by customers who feel mislead and other
conduct issues, (20) changes in tax laws and regulations and
risks of non-compliance or investigation in connection with tax
laws, including FATCA, (21) operational risks, such as system
disruptions or failures, breaches of security, cyber-attacks, human
error, changes in operational practices or inadequate controls
including in respect of third parties with which we do business,
(22) risks and challenges related to cybercrime including the
effects of cyber-attacks and changes in legislation and regulation
related to cybersecurity and data privacy, (23) changes in
general competitive factors, including ability to increase or
maintain market share, (24) the inability to protect our
intellectual property and infringement claims by third parties,
(25) inability of counterparties to meet financial obligations
or ability to enforce rights against such counterparties,
(26) changes in credit ratings, (27) business,
operational, regulatory, reputation and other risks and challenges
in connection with climate change, (28) inability to attract
and retain key personnel, (29) future liabilities under
defined benefit retirement plans, (30) failure to manage
business risks, including in connection with use of models, use of
derivatives, or maintaining appropriate policies and guidelines,
(31) changes in capital and credit markets, including
interbank funding, as well as customer deposits, which provide the
liquidity and capital required to fund our operations, and
(32) 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.
This document may contain inactive textual addresses to internet
websites operated by us and third parties. Reference to such
websites is made for information purposes only, and information
found at such websites is not incorporated by reference into this
annual report. ING does not make any representation or warranty
with respect to the accuracy or completeness of, or take any
responsibility for, any information found at any websites operated
by third parties. ING specifically disclaims any liability with
respect to any information found at websites operated by third
parties. ING cannot guarantee that websites operated by third
parties remain available following the filing of this document or
that any information found at such websites will not change
following the filing of this document. Many of those factors are
beyond ING’s control.
Any forward looking 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.
- PR 2020 Annual Report - FINAL - 20210311
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