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

Q3 2023 ING Groep NV Earnings Press Conference Transcript

Nov 02, 2023 / 10:00AM GMT

Release Date Price: $12.63 (-0.63%)

Transcript

Operator

Welcome to the ING Third Quarter 2023 Media Call. I'm happy to give the floor to Steven van Rijswijk, CEO of ING.

Steven J. A. van Rijswijk

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

Thank you, operator. Welcome, and thank you for joining us on the call. On the call with me are Tanate Phutrakul, our CFO; and Ljiljana Cortan, our CRO. We will give you a short update on the developments in the third quarter, and then we'll open the call for questions.

In the third quarter, we recorded another strong set of results with our net profit more than doubling compared to a year ago. We gained 181,000 primary customers to a total of 15.1 million. And this growth occurred across almost all of our retail markets, our 10 retail markets, especially in Germany, Australia and Turkey. In many markets, we now onboard most of our new retail customers fully digitally, for instance, 75% in the Netherlands and 72% in Australia. And 62% of our active customers only do business with us through their mobile, which is 5 percent

Already have an account? Log in

Get the full story

Start 7-Day Free Trial

	Access to All Earning Calls and Stock Analysis
	30-Year Financial on one screen
	All-in-one Stock Screener with unlimited filters
	Customizable Stock Dashboard
	Real Time Insider Trading Transactions
	8,000+ Institutional investors’ 13F holdings
	Powerful Excel Add-in and Google sheets Add-on
	All data downloadable
	Quick customer support
	And much more...

30-Day 100% money back guarantee

You are not charged until the trial ends. Subscription fee may be tax deductible.

Excellent

4.6 out of 5

Trustpilot

Research Tools

All-In-One Screener Stock Ideas Stock List Guru List Guru Real-Time Picks Insider List Insider Trades Economic Indicators Sector & Industry Performance DCF Calculator Discussion Board

Product

Pricing Plans Excel Add-In Google Sheets Add-on Data API Stock Comparison Table Manual of Stocks Mobile App 中文

Education

Financial Glossary Tutorials FAQ Schedule Free Session Buffett Indicator Shiller P/E Yield Curve Today U.S. Inflation Rate Global Market Valuation Fed Net Liquidity Buffett Assets Allocation

Company

About GuruFocus Career Contact Us Advertise Site Map Term of Use Privacy Policy Referral Program Partner Program

Survey

We'd love to learn more about your experiences on GuruFocus.com and how we can improve!

Take Survey

Disclaimers

GuruFocus.com is not operated by a broker or a dealer. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes are provided by QuoteMedia, Inc. (CSI). Company fundamental data is provided by Morningstar. Analyst estimates data is sourced from both Refinitiv and Morningstar, with priority given to Refinitiv data. Data is updated daily.