ING actively supporting customers, employees and society during Covid-19 pandemic
• With most staff working from home, ING is actively supporting customers, employees and communities and engaging with
governments and regulators to support recovery
• Net core lending increased by €12.3 billion in 1Q2020, largely refl ecting liquidity provided in late March; net customer deposit
infl ow amounted to €9.2 billion
ING 1Q2020 result before tax of €1,017 million, 35.7% lower than in 1Q2019
• Result refl ects higher risk costs and negative valuation adjustments as a result of market volatility and the expected future
economic impact of the Covid-19 pandemic
• Net interest income remained resilient; net fee and commission income increased on higher brokerage trades
• Four-quarter rolling ROE was 8.4% and CET1 ratio stood at 14.0%, refl ecting impacts on capital caused by volatility at the end
of March and includes the impact of the new Defi nition of Default on RWA
CEO statement
"The Covid-19 pandemic is profoundly aff ecting society and the economy throughout the world, and it will continue to do
so for some time,” said Ralph Hamers, CEO of ING Group. “As a globally operating bank, ING is aff ected in a number of ways,
including through the impact the pandemic has on our customers, employees and the communities where we operate.
"In line with our purpose to empower customers, we’re taking actions to do our part in supporting retail and wholesale banking
customers to adapt to this new situation. That includes off ering payment holidays in a number of countries, which allow our
customers to postpone loan repayments. We’re also working with our corporate clients to deliver tailor-made solutions for
their particular challenges. But it’s also about the basics of ensuring the availability of banking services through our mobile and
digital channels. And this also involves things like making it easier to perform contactless payments by increasing limits and
providing information and help for customers so they can learn how to do more of their banking through mobile and digital
channels.
"The health and safety of our employees is a top priority. We have smoothly transitioned to a situation where around 80
percent of staff are now working from home. We support them with tools to enable them to work from home and off er
guidance to help them deal eff ectively with the challenges that this can bring. And we’ve limited the number of employees in
branches by keeping fewer branches open at this time and by reducing hours, while maintaining access to this channel.
"The Covid-19 pandemic also requires us to take actions to responsibly manage our business so we can deal with its impact.
ING's commercial performance in the fi rst quarter was broadly in line with the year-earlier period, and we showed stable
net interest income and strong improvement in fee income. Our operational performance demonstrated the strength of our
business model. However, we also saw substantially increased loan loss provisioning, including provisioning for the impact of
the deteriorating macro-economic environment. This, together with fair value movements refl ecting market volatility, resulted
in a lower net result for the quarter.
"Given the uncertainty in the current environment we will need to look closely at our cost base to ensure that our expenses
optimally support our strategic priorities and other areas of high importance, such as our ongoing know your customer (KYC)
eff orts. At the same time, ING is well capitalised and has a very stable funding base. This gives us the fl exibility to support our
customers and society during this crisis and work together with governments and regulators towards a recovery. Following the
recommendation of the ECB, we have suspended dividend payments until at least 1 October.
"While we now fi nd ourselves in a period of great uncertainty, I remain confi dent about ING’s future. Since launching our Think
Forward strategy in 2014, we’ve been among the leaders in digital banking and we off er a diff erentiating customer experience,
as shown by our growing number of customers and the increasing amount of business they do with us. Our ability to grow and
diversify income, our large and stable deposit base and our well-diversifi ed loan book are a strong combination supporting our
balance sheet and future profi tability. This provides a solid and sustainable foundation on which to continue to support our
customers and play our role in society, now and in the future."

see & red more on
https://www.ing.com/Investor-relations/Financial-performance/Quarterly-results.htm

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