bank. aber besser. - ing group: general€¦ · 2q12 3q12. q12 1q13 2q13 00 2 22 3 underlying net...
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Northern European home markets:
Leading domestic banking positions in the Netherlands,
Belgium, Germany and Poland
Central and Eastern Europe and Asia: Domestic banks provide options for future growth
European markets: Combining ING Direct franchise with Commercial Banking operations; selectively evolving towards mature domestic banking model
Leading Commercial Bank in Benelux and CEE, supporting domestic economy. Leaders in specialised finance and financial markets
www.ing.com
ING GROUP: GENERAL For internal and external use - Last updated on 7 August 2013
Our missionING aims to set the standard in helping our customers manage their financial future. We aim to deliver financial products and services in the way our customers want them delivered: with exemplary service, convenience and at competitive prices.
Priorities• Our strategic priorities are to strengthen the company’s financial
position, to restructure the organisation, to streamline the business portfolio, to repay the Dutch State and to solidify strong stand-alone futures for Bank and Insurance.
• Customer preferences and habits are changing, and the demands on the financial industry from regulators, customers, shareholders and society at large are increasing. ING recognises the importance of these trends and has initiatives focused on customer centricity, operational excellence and sustainability at the core of the Group strategy.
Sustainability• In June, ING hosted the launch of the 3rd edition of the Equator
Principles (EPIII), which was drafted under ING’s chairmanship of the EP Steering Committee. These standards are used by banks to assess and manage environmental and social risk in project finance.
• ING Direct Australia launched the online platform ‘Dreamstarter’ to help create social change. It connects social entrepreneurs and non-profit organisations with people who want to financially assist.
• ING Luxembourg, Interhyp, ING-DiBa and ING Spain have been awarded ‘European Great Place to Work’ Awards. ING was also ranked in the top 25 of the ‘Best Multinational Workplaces in Europe’ and was the only financial institution in the ranking.
• More information can be found on www.ing.com/sustainability.
About ING Group• ING is a global financial institution of Dutch origin, currently offering
banking, investments, life insurance and retirement services.• More than 82,000 ING employees serve over 61 million private,
corporate and institutional customers in over 40 countries in Europe, North America, Latin America, Asia and Australia.
• We draw on our experience and expertise, our commitment to excellent service and our global scale to meet the needs of a broad customer base, comprising individuals, families, small businesses, large corporations, institutions and governments.
Our CEO
Jan Hommen, CEO ING Group: “ING has made good progress so far this year as we work to improve our operational performance, execute our restructuring and prepare our banking and insurance companies for independent futures. I am extremely proud of what our people have achieved this quarter and over the past years, through an exceptional period of change within our company and in the financial industry. Eve-ry step of the way, we have tried to keep the interests of our customers as our first priority. On 1 October, Ralph Hamers will take over from me as CEO of ING Group and I am confident that he will continue the drive to build strong, sustainable futures for our businesses, while placing the highest priority on the needs of our customers.”
ING Insurance/IM has a strong position as a provider of life insurance, investment and retirement services and is well-positioned to capitalise on socio-economic trends.
No. of employees: over 64,000 / No. of customers: over 33 million* ING has a strategic stake in the TMB Bank in Thailand and in the Bank of Beijing in China.
Top 5 player in US Retirement Services
No. 1 life insurer in the Netherlands
Leading life & pensions provider in Central Europe
ING Investment Management • ING IM is active in Asia,
Europe, the US and the Middle-East
• ING IM most favoured investment manager in the Netherlands
No. of employees: over 18,000 / No. of customers: over 28 million* ING has announced transactions for its insurance and/or investment management joint ventures in Brazil and China, as well as for its investment management business in South Korea, which is why a presence in these countries is not indicated in this map. In Brazil ING still has a minority stake in SulAmérica.
Where we operate
ING Bank builds on its international commercial banking network and capitalises on its retail bank leadership position in gathering savings, multi-channel distribution, simple propositions, cost leadership and marketing.
Progress on RestructuringING is maintaining momentum in restructuring.
EC restructuring in 2013ü Insurance ING U.S. IPO launchedü Sale of part of SulAmérica and KB Life closedü Sale of CMF, additional part of SulAmérica, ING-BOB Life and
ING Investment Management Korea announced ü Merger of commercial operations of WestlandUtrecht Bank with
Nationale-Nederlanden Bank complete• Sales process ING Life Korea, Japan and remaining ING Investment
Management Asia ongoing• Next tranche repayment of core Tier 1 securities to Dutch State
scheduled for November 2013• Aim to have Insurance Europe ready for base case IPO in 2014• IABF in the money for the Dutch State since the end of 2012
More than EUR 10 bln paid to the Dutch State (in EUR mln)
ING business divisions
Insurance EurAsia
ING Group
Insurance/IM Banking Retail Banking International
Commercial Banking
Retail Banking Benelux
Insurance ING U.S.
Stock price developmentING shares are listed on the NYSE Euronext stock exchanges in Amsterdam, Brussels and on the New York Stock Exchange (NYSE) (ING.AS).
1 Jan 2012 1 Apr 2012
ING DJ Stoxx Banks Europe index DJ Stoxx Insurance Europe index
1 JANUARY 2012 TO 1 JULY 2013
75
100
125
150
175
1 Jul 20131 Jul 2012 1 Oct 2012 1 Jan 2013 1 Apr 2013
1 Jan 2012 1 Apr 2012
ING DJ Stoxx Banks Europe index DJ Stoxx Insurance Europe index
1 JANUARY 2012 TO 1 JULY 2013
75
100
125
150
175
1 Jul 20131 Jul 2012 1 Oct 2012 1 Jan 2013 1 Apr 2013
Results 2Q2013
Underlying net result ING Group (in EUR mln)
Net result ING Group (in EUR mln)
4Q122Q12 3Q12 1Q13 2Q13
800942
1,109
822
483
Underlying net result ING Group (in EUR mln)
Net result ING Group(in EUR mln)
4Q122Q12 3Q12 1Q13 2Q13
1,804
788
1,293
658
1,481
• Group posted an underlying net profit of EUR 942 mln driven by robust performance in all three business segments.
• Bank posted another strong quarter supported by a higher net margin and strict cost control.
• Insurance EurAsia showed a substantial improvement compared to both 2Q12 and 1Q13.
• Insurance ING U.S. recorded solid operating performance, driven by higher fees and premium based revenues, reflecting net inflows from the Retirement and investment management businesses.
• Bank core Tier 1 ratio remained strong at 11.8% and Insurance EurAsia IGD Solvency I ratio improved to 304%; estimated combined RBC ratio for ING U.S. was 454%.
ING rankingING ranks no. 17 in the Top 20 European Financial Institutions bymarket capitalisation (in EUR billion)
2Q2009 3Q2009 4Q2009 1Q2010 2Q2010Intangibles amortisation and impairments
0
6001,2001,8002,4003,0003,600
2,2012,203 2,061 2,232 2,231
10666 133 264 169
52.6%78.2% 70.4% 75.4%
57.5%
0
50
100
C/I ratioStaff and other expenses
OPERATING EXPENSES (in EUR million) AND COST/INCOME RATIO (in %)
Source: MSCI, Bloomberg 30 June 2013
Nordea Bank
AllianzUBS
Zurich Insurance
AXA
Barclays
Prudential
BBVA
Deutsche Bank
Standard Chartered
Royal Bank of Scotland
Assicurazioni Generali
INGMunich Re
Credit Suisse Group
Swiss Re
Lloyds BankBNP Paribas
Banco SantanderHSBC
Prudential
AllianzUBS
Credit Suisse Group
BBVA
Barclays
Deutsche Bank
Nordea Bank
Zurich Insurance
Lloyds Bank
Royal Bank of Scotland
Svenska
Munich ReSwiss Re
AXA
ING
BNP ParibasStandard Chartered
Banco SantanderHSBC
505152
363636
4042
29
32
21
3433
2125
27
32
5353
148
BBVA
AllianzUBS
Barclays
Credit Suisse Group
AXA
Lloyds
Deutsche Bank
Zurich Financial Services
M. Rueckversicherungs
PrudentialIntesa Sanpaolo
Nordea Bank
UniCredit
Standard CharteredBNP Paribas
Banco SantanderHSBC
Contact details
Media Relations: +31 20 576 5000 / media.relations@ing.comInvestor Relations: +31 20 576 6396 / investor.relations@ing.comPublic Relations: +31 20 576 5000 / communication@ing.com
www.ing.com
ING GROUP: GENERAL For internal and external use - Last updated on 7 August 2013
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, the same accounting principles are applied as in the 2Q2013 ING Group Interim Accounts. 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 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) the implementation of ING’s restructuring plan to separate banking and insurance operations, (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) the frequency and severity of insured loss events, (7) changes affecting mortality and morbidity levels and trends, (8) changes affecting persistency levels, (9) changes affecting interest rate levels, (10) changes affecting currency exchange rates, (11) changes in investor, customer and policyholder behaviour, (12) changes in general competitive factors, (13) changes in laws and regulations, (14) changes in the policies of governments and/or regulatory authorities, (15) conclusions with regard to purchase accounting assumptions and methodologies, (16) changes in ownership that could affect the future availability to us of net operating loss, net capital and built-in loss carry forwards, (17) changes in credit-ratings, (18) ING’s ability to achieve projected operational synergies and (19) the other risks and uncertainties detailed in the Risk Factors section contained in the most recent annual report of ING Groep N.V. 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 buy, any securities.
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