Investor Presentaiton
ING's strengths are amplified in a positive rate environment
Total income excluding incidental income items (in € bln) ¹)
Low rate environment
Positive rate environment
11.4
10.1
8.9
9.1
9.0
9.1
9.2
9.5
1.2
8.7
8.8
9.1
1.1
0.6
8:4
0.8
0.9
0.9
1.2
0.5
1.8
0.5
0.5
U.4
0.5
0.6
1.4
1.4
1.4
1.5
1.8
1.5
1.5
1.7
1.8
1.8
4.1
4.3
4.5
4.5
4.2
4.7
4.6
4.6
4.6
4.7
4.4
3.6
2.1
2.2
2.1
1.9
2.5
1.7
1.5
1.3
1.3
1.4
1H2018
2H2018
1H2019
2H2019
Liability NII
1H2020
Lending NII
2H2020
1H2021
2H2021
1H2022
2H2022
1H2023
■Fees Financial Markets²)
Treasury & Other²)
Focus on income diversification has resulted in structural fee income growth and resilient total income during a low rate environment
Attractive funding structure with 61% of the growing balance sheet funded by customer deposits
~55% of our replicating portfolio is reinvested longer than 1 year, creating a long-term support of our liability NII
■ Return of loan demand and improved asset margins will be a catalyst for future income growth
1) Incidental income items (corresponding with 'other volatile income items' as presented on slide 18) excluded: €198 mln in 1H2019; €-42 mln in 1H2020; €-230 mln in 2H2020;
€388 mln in 1H2021; €141 mln in 2H2021; €-223 mln in 1H2022; €-824 mln in 2H2022 (including €-288 mln to unwind a hedge in Belgium); and €-75 mln in 1H2023
2) Excluding fees
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