ING Capital Markets Day 2024: 'Growing the difference'
ING is hosting a Capital Markets Day today, 17 June 2024, in London, United
Kingdom. Under the headline 'Growing the difference', Steven van Rijswijk, CEO
of ING, and the other members of ING's Management Board will provide an update
on the next phase of ING's strategy, aimed at being the best European bank by
accelerating growth, increasing impact, and delivering value.
As part of the Capital Markets Day, we will share financial targets for the
period 2024-2027, showing structurally improved profitability and continued
attractive shareholder returns. In this period, we aim to grow our number of
mobile primary customers by one million per annum and target an annual total
income growth of 4-5%. For 2027, we target a fee income of EUR5 billion, a
cost/income ratio of 52-54% and a return on equity of 14%. Our CET1 ratio target
of around 12.5% by end of 2025 is reaffirmed and will be periodically reviewed
against capital requirements.
Building on our strategic pillars of superior value for customers and putting
sustainability at the heart, we present our plan to increase impact, build scale
in more market segments and play a bigger role in the economies we operate in.
We will invest to expand our product offerings, grow our customer base, and
deepen our customer relationships. We increase capital allocation to our retail
business while focusing on growth combined with improving capital efficiency in
wholesale banking.
We also provide an update today on our ambition to be a leader in financing the
sustainable transition. We continue to manage our portfolio towards net-zero by
2050, taking a science-based approach per sector. As announced earlier, we will
phase out financing of oil and gas production by 2040 while aiming to triple the
financing of renewable energy to EUR7.5 billion annually by 2025. We update our
target for sustainable volume mobilised to EUR150 billion per annum by 2027.
The Capital Markets Day 2024 will start at 14.00 CET and will conclude at
approximately 17.30 CET. The presentations, followed by a Q&A session for
analysts and institutional investors, can be viewed live via webcast
(https://www.ing.com/Investors/Presentations/Capital-Markets-Day-
presentations.htm). A replay of the webcast will be available after the event.
All materials presented at the Capital Markets Day are available online at
www.ing.com/capitalmarketsday
(https://www.ing.com/Investors/Presentations/Capital-Markets-Day-
presentations.htm).
Note for editors
For more on ING, please visit www.ing.com (http://www.ing.com). Frequent news
updates can be found in the Newsroom (http://www.ing.com/Newsroom.htm) or via X
@ING_news (http://www.twitter.com/ing_news) feed. Photos of ING operations,
buildings and its executives are available for download at Flickr
(http://www.flickr.com/photos/inggroup).

 Press enquiries                             Investor enquiries
 Raymond Vermeulen                           ING Group Investor Relations
                                             Investor.Relations@ing.com
 +31 20 576 5000                             (mailto:Investor.Relations@ing.com
                                             )

Raymond.Vermeulen@ing.com
(mailto:Raymond.Vermeulen@ing.com)
ING PROFILE
ING is a global financial institution with a strong European base, offering
banking services through its operating company ING Bank. Our purpose is:
empowering people to stay a step ahead in life and in business. Our more than
60,000 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 our leading
position in sector benchmarks. ING's Environmental, Social and Governance (ESG)
rating by MSCI was affirmed 'AA' in July 2023. As of December 2023,
Sustainalytics considers ING's management of ESG material risk to be 'strong'.
ING Group shares are also included in major sustainability and ESG index
products of leading providers Euronext, STOXX, Morningstar and FTSE Russell.
Society is transitioning to a low-carbon economy. So are our clients, and so is
ING. We finance a lot of sustainable activities, but we still finance more
that's not. Follow our progress on ing.com/climate
(https://www.ing.com/climate).
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changes in capital and credit markets, including interbank funding, as well as
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