ING’s net profit down 7.8% to $1.64b in Q1 2025

Its full-year 2025 targets remain the same.

ING has posted a net profit of $1.64b (€1.45b) for Q1 2025, 7.8% year-on-year (YoY) lower than a year earlier, its latest consolidated results report showed.

Net interest income (NII) fell by 5.3% to $4.1b (€3.62b) for the quarter, compared to €3.93b in Q1 2024, the Dutch bank reported.

Net fee and commission income rose by 9.6% to $1.23b (€1.09b), whilst investment income more than tripled with a 237.5% rise to €27b during the quarter.

Total income rose 1% to €5.64b.

Operating expenses are 5.5% higher, at $3.63b (€3.2b).

Common equity Tier 1 ratio (CET1 ratio) is 13.6% in Q1 2025, lower than the 14.8% in Q1 2024.

Net result per share (in euros) is 0.47, a 2.1% decline from Q1 2024’s 0.48.

Looking ahead, ING noted that macroeconomic and geopolitical circumstances remain uncertain. As a result, the bank now expects a CET1 ratio by year-end 2025 of between 12.8-13%.

“Apart from that, we reconfirm our 2025 outlook, as we remain confident in our ability to deliver value,” ING said.

ING expects total income in 2025 to end up at roughly the same level as it was in 2024, supported by volume growth and a targeted 5-10% increase in fee income.

Total expenses are expected to increase to around €12.5-€12.7b (excluding incidental items). The return on equity is expected to exceed 12% in 2025.

(US$1 = €0.88; as of 5 May 2025, Google)