ING Groep NV (NYSE:ING)

$ 15.6801 0.0601 (0.38%) Market Cap: 48.45 Bil Enterprise Value: 120.61 Bil PE Ratio: 6.87 PB Ratio: 0.92 GF Score: 75/100

Q1 2021 ING Groep NV Earnings Press Conference Transcript

May 06, 2021 / 09:00AM GMT

Release Date Price: $13.1 (+0.38%)

Transcript

Operator

Welcome, and thank you for joining the ING's First Quarter 2021 Media Call. I'm happy to give the floor to CEO of ING, Steven van Rijswijk. Please go ahead, sir.

Steven J. A. van Rijswijk

ING Groep N.V. - CEO and Chairman of the Executive Board & Management Board Banking

Thank you very much, operator, and welcome, and thank you all for joining us on the call. Here in the room with me are Tanate Phutrakul, our CFO; and Ljiljana Cortan; our COO. We will give you an update on developments and our results for the first quarter of 2021.

In the first quarter, our customers and colleagues were still affected by the COVID-19 pandemic and the continued lockdowns. And luckily, we see vaccination programs picking up speed. If you look at customer behavior, we saw continued inflow of savings and deposits, some EUR 8 billion this quarter, as customers are still reluctant to spend and are limited to do so because of the ongoing lockdowns.

And at the same time, in the low interest rate environment, many customers have turned to investing as an

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