Company: INGVF
Filing Date: 2025-07-31
Form Type: 6-K
Source: 0001628280-25-036812
Chunk: 9

Company: ING GROEP NV
Filing Date: 2025-07-31
Form: 6-K
Chunk 9
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 from our cash pooling and netting services now reported under commercial NII. Moreover, other NII in 2Q2024 had included EUR 31 million in one-offs items (a EUR 70 million one-off income in Wholesale Banking, partly offset by a EUR -39 million impact from the Polish mortgage moratorium).

Net fee and commission income increased 11%. In Retail Banking, fee income from investment products was up significantly, driven by growth in the number of investment accounts and higher customer trading activity. Daily banking fees rose on the back of strong customer growth and updated pricing for payment packages. In addition, Retail Banking grew its fee income from lending and insurance products. Fees and commissions in Wholesale Banking mainly reflected increased fee income from daily banking services and higher issuance activity in Global Capital Markets.

Investment and other income increased 19% to EUR 1,965 million. The majority of this amount relates to Financial Markets and Treasury, both of which improved their results year-on-year. The 2025 figure included a EUR 39 million interim dividend from our stake in the Bank of Beijing, a positive revaluation of the derivative for the forward purchase of a stake in Van Lanschot Kempen, and higher income from Corporate Investments and foreign currency ratio hedging. The comparable period in 2024 had included a EUR 53 million receivable related to the prior insolvency of a financial institution in the Netherlands.

#### Operating expenses
Operating expenses increased 6.0% to EUR 6,234 million, including EUR 439 million of regulatory costs, which remained broadly stable. Operating expenses in the first half of 2025 included EUR 120 million of incidental cost items, of which EUR 85 million was for the rebalancing of the workforce in Wholesale Banking. In comparison, the first half of 2024 had included EUR 46 million of incidental items, of which EUR 34 million was related to restructuring in Belgium and EUR 12 million reflected hyperinflation accounting impacts on expenses in Türkiye under IAS 29.

Expenses excluding regulatory costs and incidental items rose 5.3%, reflecting inflationary pressures and continued investments in business growth. This was partly offset by operational efficiencies, mainly driven by the optimisation of KYC activities and improved client interaction in contact centres, as well as a continued footprint optimisation in various retail countries.

#### Addition to loan loss provisions
Net additions to loan loss provisions amounted to EUR 612 million, or an annualised 18 basis points of average customer lending, below our through