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ING Groep NV

ING Groep NV

ING
$32.33USD↓-1.52%-0.50 today

MARKET CAP

65.8B

P/E (TTM)

14.8x

FWD P/E

12.3x

DAY RANGE

$32 – $32

52W RANGE

$22
$33

AI Summary

Stalk
Buy NowMedium

ING remains in a Stage 2 advancing regime with sustained higher highs and higher lows above rising EMAs. A corrective pullback into the 9/21 EMA zone held with an acceptance candle, offering a timely buy entry. Despite overbought context, the pullback alleviated extension and aligns with the medium-term bullish bias. Failure to hold the 21EMA on sustained volume would invalidate this view.

  • ↑Mobile primary customers up 1.1M over 12 months, boosting user base.
  • ↑Fee income rose 12% YTD, prompting full-year fee growth outlook >10%.
  • ↓Analyst earnings revisions are trending downward, signaling lower forecasts.
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The case for & against

Bull & Bear analysis

Bullish

ING Groep N.V. (NYSE: ING) is a leading global financial institution providing a diverse range of banking, investments, life insurance, and retirement services primarily across Europe, North America, and Asia. The company has established itself as a prominent player in the financial services sector, focusing on enhancing customer value through digital banking capabilities and sustainable finance solutions. ING is strategically positioned within the evolving banking landscape by catering to an increasing demand for digital and responsible banking products.

Bull says

  • ↑Mobile primary customers up 1.1M over 12 months, boosting user base.
  • ↑Fee income rose 12% YTD, prompting full-year fee growth outlook >10%.
  • ↑€1B share buyback 31.5% complete; dividend yield 1.86%.
  • ↑Net interest income projected at €15.2–15.3B for FY25 on rate tailwinds.
  • ↑Return on equity expected >12.5% in FY25, underscoring capital efficiency.
  • ↑CET1 ratio targeted ~13%, providing buffer for acquisitions and stress.

Bear says

  • ↓Analyst earnings revisions are trending downward, signaling lower forecasts.
  • ↓Core deposits declined after German promo, raising funding stability risk.
  • ↓Operational liquidity buffers are tightening, indicating elevated liquidity risk.
  • ↓Intense retail banking competition may compress margins and fee income.
  • ↓Up to 950 roles at risk from AI integration, potentially impacting service.
  • ↓Potential regulatory capital hikes could constrain lending and growth.

Investment themes with ING

European Banks↑ +0.67%

Banks operating primarily in Europe

HSBC · SAN · BBVA
International Banks↑ +0.29%

Banks operating across multiple countries

HSBC · RY · SAN

Earnings Call · Q3 2025 · Mgmt. Guidance

Updated 07-10-2026neutral

Transcript signals

Bull points

  • We have added nearly 200,000 mobile primary customers during the quarter, bringing growth in the last 12 months to over EUR 1.1 million, well ahead of the target set at our Capital Markets Day.
  • Year-to-date, fees grew by 12%, and we have raised our full year 2025 growth outlook to more than 10%.
  • Our fourth quarter rolling average ROE stands at 12.6%, and we have also revised our full year ROE outlook upwards.

Bear points

  • Core deposits declined slightly following substantial inflows in previous quarters and this was largely due to the inclusion of promotional campaigns and seasonal spending patterns during the summer in Retail Banking.
  • core deposits declined by around EUR 200 million after significant inflows in prior quarters. The decline was largely attributable to outflows in Germany and Belgium after the conclusion of promotional savings campaign.
  • Net addition to Stage 3 provision amount to EUR 361 million, mainly due to collective provisioning in Retail Banking and a number of newly defaulted files in Wholesale Banking.
Read full transcript analysis ›