ING publishes its 2017 Integrated Annual Report and proxy materials 2018 AGM
09 March 2018 - 12:00AM
"Empowering people" is the title of the 2017 Integrated Annual
Report of ING Groep N.V. (IAR) that is published today, together
with the Annual Report of ING Bank N.V..
The title reflects ING's purpose of empowering people to stay a
step ahead in life and in business. In 2017, we again saw rapid
growth in interactions with customers through mobile devices. With
our Customer Promise to be clear and easy, available anytime and
anywhere, to empower and to keep getting better, we've established
ourselves as a leader in digital banking.
In Retail Banking, the overall number of customers increased to
37.4 million in 2017, up more than four million since the launch of
the Think Forward strategy in 2014. The number of primary
relationships - customers with a current account with recurring
income and at least one other product - grew to 10.8 million. We're
on track to meet our ambition of 14 million primary customers by
2020. Based on a rolling average, we were rated number one in terms
of NPS in seven of our 13 retail markets in 2017.
ING Wholesale Banking's solid performance demonstrated the
skills that differentiate us in the market, including our strong
sector expertise in industry lending and capabilities in areas like
payments and cash management, working capital solutions and
financial markets. We'll further develop Wholesale Banking as a
client focused franchise that offers a consistent experience across
borders.
At the same time that we transform ING and prepare for the
future, we must also ensure that our day-to-day operations meet the
highest standards and that we continue to live up to the
expectations of customers and society. This includes ensuring that
critical non-financial risk areas, such as customer due diligence
and anti-money laundering measures, stay top of mind and are
supported by a structural approach and strong foundations.
Our sustainability information is also provided in the IAR as
sustainability is embedded in ING's purpose and strategy. In 2017
we decided to focus our sustainability efforts on contributing to a
low-carbon and self-reliant society as we think this will have the
most impact both for our customers and society. For businesses,
this includes increasing financing for responsible companies while
reducing financing for carbon-intensive sectors, continuing our
involvement in the circular economy and increasing financing aimed
at promoting social progress. For customers, our approach to
promoting a self-reliant society includes providing them with tools
and insights that improve their financial decision-making and
resilience.
The IAR and the Annual Report of ING Bank N.V., are available on
a special annual report landing page on ING's website ing.com. This
page includes all relevant downloads, and an accessible and
engaging overview of the key figures and highlights of the
year.
ING today also published the proxy materials for its annual
General Meeting (AGM), to be held on Monday, 23 April 2018, in
Amsterdam. The proxy materials, including the agenda for the AGM,
will be available as of 3 pm CET at www.ing.com/agm. The agenda
includes a proposal to the AGM to amend the Executive Board
remuneration policy and to re-appoint Eric Boyer de la Giroday as a
member of the Supervisory Board. The reappointment will be
effective immediately at the end of the Annual General Meeting of
23 April 2018. As announced in 2017, Jeroen van der Veer will step
down from the Supervisory Board as per the end of the AGM in 2018.
He has been a member of the Supervisory Board since 2009 and was
reappointed for a period of one year in 2017. As announced earlier
it is the intention of the Supervisory Board to elect Hans Wijers
as its chairman to succeed Jeroen van der Veer in that capacity per
the end of the AGM 2018.
ING will also file today its Annual Report on Form 20-F for the
year ended 31 December 2017 with the United States Securities and
Exchange Commission (SEC). The 2017 Form 20-F is available on the
ING website, and can be downloaded from the SEC website
(www.sec.gov) later today. Shareholders or holders of ADRs can also
request a hard copy of ING's audited financial statements, free of
charge, at www.ing.com/publications.htm.
Note for editors
For further information on ING, please visit www.ing.com.
Frequent news updates can be found in the Newsroom or via the
@ING_news Twitter feed. Photos of ING operations, buildings and its
executives are available for download at Flickr. Footage (B-roll)
of ING is available via ing.yourmediakit.com or can be requested by
emailing info@yourmediakit.com. ING presentations are available at
SlideShare.
Press enquiries |
|
Investor enquiries |
Carolien van der
Giessen |
|
ING Group Investor
Relations |
+31 20 576 6386 |
|
+31 20 576 6396 |
Carolien.van.der.Giessen@ing.com |
|
Investor.Relations@ing.com |
|
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|
ING
PROFILE 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 51,000 employees offer retail and wholesale banking
services to customers in over 40 countries. ING Group shares are
listed on the exchanges of Amsterdam (INGA AS, 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 ranking as a leader in the banks industry group by
Sustainalytics. ING Group shares are included in the FTSE4Good
index and in the Dow Jones Sustainability Index (Europe and World),
where ING is also among the leaders in the banks industry
group. IMPORTANT LEGAL
INFORMATION Elements of this press release contain or may
contain information about ING Groep N.V. and/ or ING Bank N.V.
within the meaning of Article 7(1) to (4) of EU
Regulation No 596/ 2014. Projects may be subject to regulatory
approvals. Certain of the statements contained herein are not
historical facts, including, without limitation, certain statements
made of future expectations and other forward-looking statements
that are based on management's current views and assumptions and
involve known and unknown risks and uncertainties that could cause
actual results, performance or events to differ materially from
those expressed or implied in such statements. Actual results,
performance or events may differ materially from those in such
statements due to a number of factors, including, without
limitation: (1) changes in general economic conditions, in
particular economic conditions in ING's core markets,
(2) changes in performance of financial markets, including
developing markets, (3) potential consequences of European
Union countries leaving the European Union or a break-up of the
euro, (4) changes in the availability of, and costs associated
with, sources of liquidity such as interbank funding, as well as
conditions in the credit and capital markets generally, including
changes in borrower and counterparty creditworthiness,
(5) changes affecting interest rate levels, (6) changes
affecting currency exchange rates, (7) changes in investor and
customer behaviour, (8) changes in general competitive
factors, (9) changes in laws and regulations and the
interpretation and application thereof, (10) geopolitical
risks and policies and actions of governmental and regulatory
authorities, (11) changes in standards and interpretations
under International Financial Reporting Standards (IFRS) and
the application thereof, (12) conclusions with regard to
purchase accounting assumptions and methodologies, and other
changes in accounting assumptions and methodologies including
changes in valuation of issued securities and credit market
exposure, (13) changes in ownership that could affect the
future availability to us of net operating loss, net capital and
built-in loss carry forwards, (14) changes in credit ratings,
(15) the outcome of current and future legal and regulatory
proceedings, (16) ING's ability to achieve its strategy,
including projected operational synergies and cost-saving
programmes and (17) the other risks and uncertainties detailed
in the most recent annual report of ING Groep N.V. (including the
Risk Factors contained therein) and ING's more recent
disclosures, including press releases, which are available on
www.ING.com. Many of those factors are beyond ING's control.
Any forward looking statements made by or on behalf of ING speak
only as of the date they are made, and ING assumes no obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information or for any other reason. This
document does not constitute an offer to sell, or a solicitation of
an offer to purchase, any securities in the United States or any
other jurisdiction. |
Attachment:
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