Company: INGVF
Filing Date: 2025-03-06
Form Type: 20-F
Source: 0001628280-25-010764
Chunk: 166

Company: ING GROEP NV
Filing Date: 2025-03-06
Form: 20-F
Item: Item 6
Chunk 166
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 disclosure requirements                                                                                                                                                                                                                                                                                                  ▪Strengthen organisational health with a focus on four priority areas:–Strategic clarity–Role clarity–Customer focus–Operational discipline▪Increase gender balance in ING's leadership cadre                                                                                                                                                                                                                                                                                                                                                            
▪Earning 'primary relationships' with customers is an important driver for profitable growth. In 2024, the number of primary customers increased by 0.8 to 16.2 million. This is slightly below target. ▪In 2024, ING ranked number one in five of our Retail markets: Australia, Poland, Germany, Romania and Spain, which was in line with target. ING ranks in the top three in another two markets: Italy and the Netherlands.▪In Wholesale Banking the NPS score exceeded target, as it increased to 74, up from 72 in 2023, with clients recognising ING's sector expertise, global reach and local experts.                                       ▪Credit, financial and non-financial risk were managed well within ING’s risk appetite.▪The delivery of credit risk models in 2024 was in line with the defined multi-year plan for redevelopment of credit models. ▪Continued improvement of identity and access management (IAM) by standardisation and harmonisation of processes, workflows, and automation of IAM controls as well as the further rollout of supporting global tooling.▪Implementation of the Digital Operational Resilience Act (DORA), which aims to further strengthen the digital operational resilience.              ▪Developed and rolled out the next phase of ING’s strategy, 'Growing the difference', aimed at being the best European bank by accelerating growth, increasing impact and delivering value. ▪Increased efficiency of finance processes while maintaining overall effectiveness of the financial reporting control environment by: improving control efficiency across processes; further automation of manual controls and processes; and focusing on first time right for new and remediated controls in design and execution.                 ▪Enhanced the internal controls supporting the preparation of the 2024 sustainability disclosures (CSRD/ESRS):–Installed proper governance to prepare, review, and approve disclosures. –Implemented improved controls around receiving external climate data from vendors.–Implemented improved controls in reporting processes with respective data and disclosure owners.              ▪In 2024, we held two OHI surveys, and 80 percent of our workforce provided feedback - the highest response rate ever. There is sustained engagement among ING's employees, and feedback showed that the employees continue to value and appreciate