Annual Review 2014

The customer is at the heart of everything we do
Ralph Hamers, CEO
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Overview

Welcome to ING’s Annual Review. It is part of ING’s integrated reporting suite, which includes the ING Annual Report as well as the Sustainability Annex. With an integrated reporting approach, we aim to inform stakeholders about our financial and non-financial performance in 2014. Our objective is to also provide a clear account of how we create value over time and to describe broadly our role in society.

This Annual Review contains all this information in a condensed, attractive and informative format. It is written for anyone who has an interest in ING and would like to know more about the company.

ING in 2014

1. ING in 2014

This section contains all the key facts and figures and general information about ING in 2014 as well as an account of the market and regulatory conditions that affected the company during the year.

Financial Results

Underlying net result ING Bank

+ 9 %
Fully loaded CET 1 ratio ING Bank

11.4 %
ING Bank’s underlying Return on Equity
9.9 %
Underlying cost/income ratio ING Bank
58.7 %

2014 highlights

Good customer satisfaction scores in all our retail banking markets
Net loan growth of 3 percent across Retail and Commercial Banking
ING’s Think Forward strategy launched and implemented
Full repayment to the Dutch State
The IPO of NN Group largely completes our restructuring
Comfortably passed ECB’s Asset Quality Review and stress test
Number one ‘diversified financials’ company in the Dow Jones Sustainability Index
Strong profitability, capital, liquidity and funding
Dividend payments reinstated

  1. ING in 2014 Read further

How we create value

2. How we create value

Our role as a financial institution is to support and stimulate economic, social and environmental progress. We create value by providing products and services that help people improve their lives and to fuel economic growth. View our value creation graphic and read about how we created value in 2014 for:

our customers
our employees
society in general

  2. How we create value Read further

What matters most

3. What matters most

ING regularly evaluates the impact of our business on our stakeholders. We rely on their input to balance competing expectations, address issues in an informed way and, most importantly, make our business better. In 2014, ING asked 1,600 people in seven stakeholder groups in seven countries to rank a range of topics by significance. Read about the key outcomes of our materiality analysis.

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Our Strategy

4. Our strategy

In March 2014 we presented a new purpose and strategy to meet the challenges we face as a bank in a fast-changing world. We wanted to put more focus on placing customers at the heart of what we do. We defined our purpose: empowering people to stay a step ahead in life and in business. We developed the Think Forward strategy to put that into practice.

Our customer promise

Clear and Easy
Anytime, Anywhere
Empower
Keep Getting Better

  4. Our strategy Read further

Retail Banking

5. Retail Banking

Retail Banking performed well in 2014. We returned solid results in a challenging economic environment. We grew our lending portfolio, attracted more customers and achieved higher levels of customer satisfaction. Specific initiatives are bringing our strategy to life. We are earning more primary relationships and enhancing our payment solutions.

Business line share of underlying result before tax*
*Small differences are possible in this pie chart due to rounding compared to the most recent annual report of ING Groep N.V.

  5. Retail Banking Read further

Commercial Banking

6. Commercial Banking

2014 was a good year for Commercial Banking. We performed well and are executing on the Bank’s strategic priorities. We made steady progress in adapting our business to meet changing regulatory, market and client demands and adding value for our clients. We are building a platform for the future based on financial strength and a superior banking experience that really make a difference for our clients.

Business line share of underlying result before tax*
*Small differences are possible in this pie chart due to rounding compared to the most recent annual report of ING Groep N.V.

  6. Commercial Banking Read further

The Annual Review 2014 continues with 1. ING in 2014
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