ING posts 4Q2021 net result of €945 million, FY2021 net result of €4,776 million

03 February 2022 07:00 CET ... min read


  • 4Q2021 result before tax of €1,331 million; ING's full-year 2021 result before tax rose 78%
    • Strong growth in fee income of 17% in 2021, net interest income resilient.
    • 4Q2021 net core lending growth of €13.4 billion and €30.6 billion in FY2021; 4Q2021 net customer deposits growth of €-2.1 billion and €10.3 billion in FY2021.
    • Operating expenses remain under control. This quarter’s expenses include €141 million of restructuring costs and impairments related to the announcement to exit the retail banking market in France.
    • Full-year ROE rose to 9.2%, CET1 ratio strengthens to 15.9%; proposed final 2021 dividend of €0.41 per share.

CEO statement

“Looking back on 2021, I’m pleased with our performance,” said ING CEO Steven van Rijswijk. “Despite the challenging conditions impacting customers, colleagues and society – from the ongoing pandemic to supply-chain pressures, rising energy prices and inflation – we achieved good results. I’m encouraged by increased lending volumes and strong fee income growth in the final quarter of 2021, a sign of growing confidence in the economy as the world seeks ways to live with the coronavirus. Both of these contributed to a 10.9% increase in total income compared to the same quarter in 2020.

“I’m particularly satisfied with the consistent growth we’ve recorded in our diversifying sources of income. Fee income rose 17% in 2021 compared to a year earlier and contributed 19% to our total full-year income. This has been supported by our customers’ changing preferences in the low-interest environment and by an expansion in our range of investment products. In Germany, thanks to products and services like digital advice and our cooperation with an online investment manager, we now have more than two million investment-product accounts, an increase of 21% in 2021 compared to last year.

“Smart and easy digital investment products help us to establish and deepen primary banking relationships, as do continuous improvements to the seamless digital experience we offer. For example, the mortgage application process in the Netherlands has been made less complex as customers can now easily collect and submit necessary data in an app directly from various government sources – saving time for both the customer and the bank, and increasing the number of customer applications that are ‘first time right’. We gained 481,000 primary customers in 2021, bringing the total number to 14.3 million, 3.5% higher than at end-2020.

“Unfortunately, there are also times when we have to make difficult decisions that affect our customers and colleagues. Following the strategic review announced in June, we decided to exit the retail banking market in France. This follows earlier decisions to exit the retail banking markets of Austria and the Czech Republic, after we determined that reaching the required local scale within a reasonable timeframe was unlikely. We believe these are the best strategic decisions for ING, allowing us to redeploy capital and resources to grow other areas of our business. I’m very grateful to our colleagues in France, Austria and the Czech Republic, for their ongoing customer commitment during times of professional and personal disruption.

“Looking ahead to 2022, ING is well prepared to navigate the current operating environment, with solid capital buffers, a strong risk profile and a focus on execution, supported by our talented and motivated colleagues across the globe. We will continue to strengthen our ESG profile and deliver on our sustainability commitments. We supported 317 sustainability deals in 2021, which is almost two-and-a-half times the number of last year. We’re also helping clients in the transition to a low-carbon world in line with our Terra approach. As the urgency for climate action increases, corporations, governments and regulators have to work together to define new ways of doing business that align economic growth with positive environmental and social impact – and ING is determined to continue to have a leading role in this collaborative approach.”

Consolidated results

Analyst and investor conference call

3 February 2022 at 9:00 am CET

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UK +44 203 365 3209
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Media conference call

3 February 2022 at 11:00 am CET

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Live audio webcast

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ING is a global financial institution with a strong European base, offering banking services through its operating company ING Bank. The purpose of ING Bank is empowering people to stay a step ahead in life and in business. ING Bank’s more than 57,000 employees offer retail and wholesale banking services to customers in over 40 countries.

ING Group shares are listed on the exchanges of Amsterdam (INGA NA, INGA.AS), Brussels and on the New York Stock Exchange (ADRs: ING US, ING.N).

Sustainability forms an integral part of ING’s strategy, evidenced by ING’s leading position in sector benchmarks.
ING's ESG rating by MSCI was affirmed 'AA' in December 2021. ING Group shares are included in major sustainability and Environmental, Social and Governance (ESG) index products of leading providers STOXX, Morningstar and FTSE Russell. In January 2021, ING received an ESG evaluation score of 83 ('strong') from S&P Global Ratings.


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ING Group’s annual accounts are prepared in accordance with International Financial Reporting Standards as adopted by the European Union (‘IFRSEU’). In preparing the financial information in this document, except as described otherwise, the same accounting principles are applied as in the 2020 ING Group consolidated annual accounts. The Financial statements for 2021 are in progress and may be subject to adjustments from subsequent events. All figures in this document are unaudited. Small differences are possible in the tables due to rounding.

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