ING Group 2024 SREP Process Finished
ING Group has officially completed the 2024 Supervisory Review and Evaluation Process (SREP) as notified by the European Central Bank. This process determined ING’s prudential requirements, including capital needs for the year 2025. The bank’s fully loaded Common Equity Tier 1 (CET1) requirement remains steady at 10.87%, with an added countercyclical capital buffer of 94 basis points (as of the third quarter of 2024).
The ECB has confirmed that the Pillar 2 additional own funds requirement (P2R) of 165 basis points will stay unchanged and will take effect starting January 1, 2025. As of September 30, 2024, ING’s CET1 ratio stood at 14.3%, surpassing regulatory standards by a significant margin.
For more detailed information on ING’s capital requirements, you can visit the credit update presentations page on their website. For investors seeking additional information, the investor relations section on the site is a valuable resource. ING Group, a global financial institution with a strong European presence, operates through ING Bank with a mission to empower individuals to stay ahead in life and business.
With over 60,000 employees, ING Bank provides retail and wholesale banking services in more than 40 countries. The bank’s shares are traded on the Amsterdam, Brussels, and New York Stock Exchanges. Emphasizing sustainability, ING Group maintains top rankings in Environmental, Social, and Governance (ESG) assessments. Their commitment to transitioning to a low-carbon economy is evident through funding sustainable initiatives.
It’s important to note that elements of this press release contain information about ING Groep N.V. and/or ING Bank N.V. in compliance with EU regulations. ING Group’s financial data adheres to International Financial Reporting Standards and may be subject to adjustments as the 2023 financial statements are still in progress and unaudited. Certain statements in this release are forward-looking and involve risks that could impact actual results.
As we move towards a more sustainable future, ING continues to progress in financing activities that align with environmental goals. The bank’s dedication to environmental, social, and corporate governance underscores its commitment to responsible banking practices. Stay updated on ING’s efforts and achievements by visiting their website.
