EBA reports
on outcome of
2023 EU-wide
stress test
ING Group was subject to the 2023 EU-wide stress test conducted
by the European Banking Authority (EBA), in cooperation with the
European Central Bank (ECB), the European Systemic Risk Board
(ESRB) and De Nederlandsche Bank.
ING Group notes the announcements made today by the EBA on the
stress test and acknowledges the outcomes of this exercise.
The 2023 EU-wide stress test does not contain a pass/fail
threshold and instead is designed to be used as an important source
of information for the purposes of the Supervisory Review and
Evaluation Process. The results will assist competent authorities
in assessing ING Group’s ability to meet applicable prudential
requirements under stressed scenarios.
The adverse stress test scenario was set by the ECB/ESRB and
covers a three-year time horizon (2023- 2025). The stress test has
been carried out applying a static balance sheet assumption as of
December 2022, and therefore does not take into account future
business strategies and management actions. It is not a forecast of
ING Group’s profits.
Under the hypothetical baseline scenario and EBA’s
methodological instructions, ING Group would have a fully loaded
common equity Tier 1 capital ratio (CET1) of 14.37% in 2025. Under
the hypothetical adverse scenario and EBA’s methodological
instructions, ING Group would have a fully loaded CET1 ratio of
8.92% in 2025.
We regularly run our own ING specific stress test and based
thereon remain comfortable with our management buffer and our
capital ratio target of around 12.5% CET1.
ING Group published an actual fully loaded CET1 ratio of 14.8%
per 31 March 2023. For more information see the results on the EBA
website.
Note for editors
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. ING presentations
are available at SlideShare.
Press
enquiries |
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Investor
enquiries |
Christoph
Linke |
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ING Group
Investor Relations |
+31 20 576
5000 |
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+31 20 576
6396 |
Christoph.Linke@ing.com |
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Investor.Relations@ing.com |
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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 58,000 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 is an integral part of ING’s strategy, evidenced
by ING’s leading position in sector benchmarks. ING's
Environmental, Social and Governance (ESG) rating by MSCI was
affirmed 'AA' in September 2022. As of August 2022, Sustainalytics
considers ING’s management of ESG material risk to be ‘strong’, and
in June 2022 ING received an ESG rating of 'strong' from S&P
Global Ratings. ING Group shares are also included in major
sustainability and ESG index products of leading providers
Euronext, STOXX, Morningstar and FTSE Russell.
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 2022 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 a number of factors, including, without
limitation: (1) changes in general economic conditions and customer
behaviour, in particular economic conditions in ING’s core markets,
including changes affecting currency exchange rates and the regional
and global economic impact of the invasion of Russia into Ukraine
and related international response measures (2) ongoing and
residual effects of the Covid-19 pandemic and related response
measures on economic conditions in countries in which ING operates
(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) 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 concerning financial services, financial economic crimes and
tax laws, and the interpretation and application thereof (12)
geopolitical risks, political instabilities and policies and
actions of governmental and regulatory authorities, including in
connection with the invasion of Russia into Ukraine and the related
international response measures (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)
ING’s ability to meet minimum capital and other prudential
regulatory requirements (16) changes in regulation of US
commodities and derivatives businesses of ING and its customers
(17) application of bank recovery and resolution regimes, including
write down and conversion powers in relation to our securities (18)
outcome of current and future litigation, enforcement proceedings,
investigations or other regulatory actions, including claims by
customers or stakeholders who feel misled or treated unfairly, and
other conduct issues (19) changes in tax laws and regulations and
risks of non-compliance or investigation in connection with tax
laws, including FATCA (20) operational and IT 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
(21) risks and challenges related to cybercrime including the
effects of cyberattacks and changes in legislation and regulation
related to cybersecurity and data privacy (22) changes in general
competitive factors, including ability to increase or maintain
market share (23) inability to protect our intellectual property
and infringement claims by third parties (24) inability of
counterparties to meet financial obligations or ability to enforce
rights against such counterparties (25) changes in credit ratings
(26) business, operational, regulatory, reputation, transition and
other risks and challenges in connection with climate change and
ESG-related matters (27) inability to attract and retain key
personnel (28) future liabilities under defined benefit retirement
plans (29) failure to manage business risks, including in
connection with use of models, use of derivatives, or maintaining
appropriate policies and guidelines (30) 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 (31) 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
document. 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 publication 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.
- EBA reports on outcome of 2023 EU-wide stress test
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