ING posts 2019 net result of €4,781 million; 4Q2019 net result of €880 million

ING, Amsterdam:

• A growing number of customers choose ING as their primary bank
• Primary customer base rises by more than 830,000 in FY2019 to 13.3 million; total retail customer base reaches 38.8 million
• Net core lending grows by €17.2 billion in 2019, €2.0 billion in 4Q2019; net inflow customer deposits €23.4 billion in 2019, €2.5 billion in 4Q2019
• Four-quarter rolling net interest margin holding up on continued pricing discipline and tiering 

• ING full-year 2019 underlying pre-tax result 9.2% lower than last year; 4Q2019 underlying pre-tax result of €1,337 million
• Reflects well-diversified loan book with resilient margins, despite margin pressure on customer deposits; higher fee income
• Expenses increase mainly due to KYC; risk costs higher, but on full-year basis below ING’s through-the-cycle average
• Full-year underlying ROE is 9.4%, CET1 ratio remains robust at 14.6%; full-year 2019 dividend of €0.69 per share 

"Looking back at 2019, we see a year of solid commercial performance despite the challenging rate environment, geopolitical uncertainties and an increasingly complex and demanding regulatory environment. The fourth quarter of 2019 proved challenging," said Ralph Hamers, CEO of ING Group.