What happened with ING today?
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ING Groep N.V. is a banking group whose retail business generates most of its income. It helps individuals and smaller businesses manage payments, save, invest and borrow, including through mortgages. Its Wholesale Banking business lends to larger companies and financial institutions and helps them finance trade, manage cash and raise money in capital markets. The Netherlands is its largest market, and the Benelux countries and Germany account for a substantial share of revenue.
Customer deposits are a major source of funding for loans and investments. The interest ING receives, less what it pays depositors and other funding providers, supplies most of its income. Customers also pay fees for payment accounts, investment products and lending-related services. Earnings depend on the spread between interest earned and funding costs, borrowers repaying their loans, and depositors continuing to keep money with ING.
Capital and liquidity rules constrain how much business ING can fund and how freely it can move money within the group. The parent holding company relies on payments from subsidiaries to meet its own obligations and fund shareholder dividends; local legal and regulatory requirements can restrict those payments.
The risk section is the longest, dullest part of the filing. This keeps only what can really hurt you: where it hits, how hard, when it plays out.
Every company claims an edge. Each one is checked against hard numbers like margins and returns: which hold, and which line gives way first.
ING’s results hinge on European deposit and lending margins and borrowers’ ability to repay, with ABN AMRO and Rabobank key competitors to watch in its largest market, the Netherlands.
Deutsche Bank competes with ING for German business customers and international companies that need loans, help managing cash and financing for trade. Its cash-management, trade-finance and lending business is the part to watch for competition facing ING’s corporate banking.
Santander competes with ING for Spanish individuals’ deposits and loans, and for corporate banking customers internationally.
BBVA competes with ING for individuals and business customers in Spain and Türkiye, offering everyday banking and lending. Its Spanish and Turkish banking operations are the relevant parts to watch, rather than its wider global business.
HSBC competes with ING for international companies that need payments and cash management, trade financing and currency exchange. HSBC’s 2025 revenue growth from wholesale transaction banking, particularly foreign exchange, highlights the business where the two banks compete.
Barclays competes with ING for companies that need loans, funding through capital markets and payment services. Its push to grow fee income is worth watching in the funding and payments services both banks sell to corporate clients.
NatWest and ING both earn substantial income by using deposits to fund loans to individuals and businesses, so lending margins and borrowers’ ability to repay matter to both. NatWest’s 2025 income benefited from wider deposit margins and increased lending, while ING’s deposit growth did not fully offset narrower deposit margins.
HSBC Holdings PLC earningsHSBC
HSBC’s report will show whether international companies are still paying for payments, cash management, trade finance and foreign-exchange services—the same corporate services ING sells.
Watch HSBC’s wholesale transaction-banking revenue, especially foreign-exchange income. Stronger revenue would point to active cross-border business and better demand and fee opportunities for ING’s payments, cash management and currency services. Weaker revenue would suggest that client activity or competition is weighing on corporate-banking fees.
Fed Interest Rate Decision
For ING, the Fed’s decision tracks the price of borrowing in the US, which can change what customers pay on loans and what ING earns on lending relative to what it pays on deposits.
Expected4.0%Last release4.0%
If it comes in above expectations
If the policy rate is higher than expected, repricing loans and new lending may bring ING more interest income, but higher deposit rates or weaker borrowing may offset that gain.
If it comes in below expectations
If the policy rate is lower than expected, lower rates on repricing loans may reduce ING’s interest income, while cheaper borrowing may support lending and lower deposit costs may cushion the effect.
ING Groep N.V. earningsThis company
ING’s report will show whether fee income can keep offsetting pressure on interest income while credit quality and costs remain contained.
Read fee income alongside net interest income, loan-loss provisions and operating costs. Growing fees with steadier interest income and contained credit costs and expenses would show that daily banking, investment products and corporate services are broadening earnings. Slowing fees, continued pressure on interest income, or rising provisions and costs would leave profit more dependent on conditions that may not last and signal strain on core earnings.
