CA - ING Groep N.V. (ING) Q1 2025 Earnings Call Transcript
2025-05-02 20:58:33 ET
ING Groep N.V. (ING)
Q1 2025 Earnings Conference Call
May 02, 2025 03:00 AM ET
Company Participants
Steven van Rijswijk - Chief Executive Officer
Tanate Phutrakul - Chief Financial Officer
Ljiljana Cortan - Chief Risk Officer
Conference Call Participants
Benoit Petrarque - Kepler Cheuvreux
Giulia Miotto - Morgan Stanley
Hari Sivakumaran - Keefe, Bruyette, & Woods, Inc.
Farquhar Murray - Bernstein Autonomous LLP
Tarik El Mejjad - Bank of America
Benjamin Goy - Deutsche Bank AG
Delphine Lee - JPMorgan Chase & Co.
Matthew Clark - Mediobanca
Kirishanthan Vijayarajah - HSBC
Johan Ekblom - UBS
Anke Reingen - RBC Capital Markets
Namita Samtani - Barclays Bank
Presentation
Operator
Good morning. This is Laura welcoming you to ING's 1Q 2025 Conference Call. Before handing this conference over to Steven van Rijswijk, Chief Executive Officer of ING Group, let me first say that today's comments may include forward-looking statements, such as statements regarding future developments in our businesses, expectations for our future financial performance and any statement not involving a historical fact. Actual results may differ materially from those projected in any forward-looking statement.
A discussion of factors that may cause actual results to differ from those in any forward-looking statement is contained in our public filings, including our most recent annual report on Form 20-F, filed with the United States Securities and Exchange Commission and our earnings press release as posted on our website today. Furthermore, nothing in today's comments constitutes an offer to sell or a solicitation of an offer to buy any securities.
Good morning, Steven, over to you.
Steven van Rijswijk
Thank you very much, Laura. And good morning, and welcome to our results call for the first quarter of 2025. I hope you're all well, and thank you for joining us. As usual, I'm joined by our CRO, Ljiljana Cortan; our CFO, Tanate Phutrakul, and we had a good start to 2025.
Today, I will show you how the strength of our franchise enabled continued commercial growth during the first quarter, as evidenced by exceptional growth in deposits and higher mortgage volumes. I will also explain how our strategy and strong business fundamentals enable us to navigate the current geopolitical and macroeconomic uncertainty.
And as a leading European bank, we are well positioned to support the European economy and capture growth opportunities as we remain confident on our outlook. Later in the presentation, Tanate will walk you through the quarterly financials, including the financial impact from the progress we're making on our strategic priorities. And at the end of the call, we will be happy to take your questions.
Now let's move to Slide 2. And this slide gives more details on our strong growth trajectory in the first quarter. Our relentless focus on providing superior value for our customers has again proven to be a key differentiator. The total number of private individual customers increased to more than 40 million, and the number of customers choosing us as their primary bank grew as well.
We also recorded significant growth in our loan book. Net core lending and retail banking grew by €8.6 billion, which was primarily driven by mortgages, while we also captured growth in business lending and consumer lending. In Wholesale Banking, we saw a modest decline in lending, mainly due to seasonal volatility in working capital solutions, but also as a result of consistent capital optimization....
ING Groep N.V. (ING) Q1 2025 Earnings Call Transcript