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ING Groep NV ADR ING Stock Quote

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Morningstar‘s Stock Analysis ING

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Is it the right time to buy or sell?
Is it the right time to buy or sell?

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Economic Moat


Capital Allocation


ING's Higher NII Guidance and Share Buybacks Drive 20% FVE Increase

Johann Scholtz, CFA Equity Analyst

Business Strategy and Outlook

| Johann Scholtz, CFA |

Low--currently negative--interest rates and the impact on ING's earnings is likely to weigh on the minds of investors for the foreseeable future. While understandable, as net interest income contributed 77% of its revenue for 2020, this is unfortunate; ING is more than merely a play on European interest rates. We believe ING's strong deposit franchises in its core markets is its greatest competitive advantage. This is completely obscured in the current low interest-rate environment. In our opinion ING has surplus capital, which could boost shareholder returns and a more focused geographical strategy could drive a rerating.

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Key Statistics ING

Company Profile ING

Business Description

The merger of the Dutch postal bank and NN Insurance in 1991 created ING. Through a series of further acquisitions ING build up a global footprint. The 2008 financial crisis forced ING to seek government support--a precondition of which was that ING should separate its banking and insurance activities, which saw ING revert to being solely a bank. ING has market-leading banking operations in the Netherlands and Belgium, and a range of digital banks across Europe and Australia. Its global wholesale banking operation is primarily focused on lending.

Bijlmerdreef 106, Cedar
Amsterdam, 1102 CT, Netherlands
T +31 205639111
Industry Banks - Diversified
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2022
Employees 58,000

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