Annual General Meeting of ING Groep N.V. on Tuesday, 28 April 2020
The Annual General Meeting (AGM) of ING Groep N.V. was held on 28 April 2020 at ING’s corporate office Cedar in Amsterdam and was broadcast live via ING’s website. Due to the coronavirus pandemic, the meeting was held in an adapted form in order to mitigate health risks for all participants and to comply with Dutch government directives.
The AGM adopted all agenda items, including the annual accounts for 2019, discharge of the (former) members of the Executive Board and the Supervisory Board and the new remuneration policy for the Executive Board and the Supervisory Board.
The AGM also approved the appointments of Herman Hulst and Harold Naus to the Supervisory Board as of 28 April 2020 and the appointment of Juan Colombás as of 1 October 2020. As announced on 16 March 2020, Eric Boyer de la Giroday and Hermann-Josef Lamberti have retired from the Supervisory Board as per the end of the AGM 2020. Robert Reibestein resigned from the Supervisory Board as per 1 January 2020.
After the AGM, the Supervisory Board consists of:
|Hans Wijers (chairman)||Herman Hulst|
|Jan Peter Balkenende||Harold Naus|
|Juan Colombás*||Mike Rees|
|Mariana Gheorghe||Herna Verhagen|
|* Effective as per 1 October 2020|
ING on dividends in the context of the coronavirus pandemic
On 30 March 2020, ING provided an update on dividends in the context of the coronavirus pandemic.
ING announced that it would follow the recommendations made by the European Central Bank to European banks on 27 March 2020 regarding dividend distributions. ING is well-capitalised, above regulatory requirements, but in line with the ECB’s recommendations, it will suspend any payment of dividends on its ordinary shares until at least 1 October 2020. At the AGM scheduled for 28 April 2020, the proposal to pay a final 2019 dividend (agenda item 3B) will not be put to a vote and will be removed from the agenda. In addition, ING does not expect to make an interim dividend payment from 2020 earnings and will review any further dividend announcements after 1 October 2020. The proposed dividend distribution as reflected in the ING Group 2019 Annual Report is amended by the new information included in the press release of 30 March 2020.
For more information, please see the relevant press release.
Availability of meeting documents
- Agenda (NL/EN), Explanatory notes to the Agenda (NL/EN), including the announcements that are required by virtue of law and the Articles of Association of ING Groep N.V. (updated per 10 April 2020).
- The 2019 Annual Report, including the Annual Accounts, the reports of the Executive Board and the Supervisory Board, the Remuneration Report and other information.
- The Remuneration policies of the Executive Board and Supervisory Board.
- The proposal to amend the Articles of Association (NL/EN).
Number of issued shares and voting rights
The total number of issued shares at the record date (end of day), Tuesday, 31 March 2020, amounts to 3,900,494,550 shares. Taking account of the number of shares held by ING Groep N.V. and its subsidiaries totalling 1,315,663, the total number of shares with voting rights is 3,899,178,887.
Please find the Dutch and English version of the draft minutes of the Annual General Meeting of ING Groep N.V. that was held on 28 April 2020. In accordance with the Dutch Corporate Governance Code, responses to these minutes must be received by ING’s Company Secretary by e-mail no later than 28 October 2020. On or about this date J.J.C.A. Leemrijse, civil-law notary practising in Amsterdam, will make a notarial record of the business transacted at the general meeting.