Company: INGVF
Filing Date: 2025-07-31
Form Type: 6-K
Source: 0001628280-25-036812
Chunk: 11

Company: ING GROEP NV
Filing Date: 2025-07-31
Form: 6-K
Chunk 11
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1 For a definition and reconciliation of net core lending growth and net core deposits growth, see the appendix ' Alternative performance measures '.

ING Group Condensed consolidated interim financial information on form 6-K for the six month period ended 30 June 2025 - Unaudited 9

| Contents |     | Interim Report |     | Risk management |     | Condensed consolidated interim financial statements |     | Notes to the Condensed consolidated interim financial statements |     | Additional notes to the Condensed consolidated interim financial statements |     | Other information |

Retail Banking continued to deliver strong growth in the first half of 2025, as the number of mobile primary customers increased by 1.1 million year-on-year, coupled with a significant rise in customer balances and fee income.

Net core lending growth (which excludes currency impacts, Treasury and run-off portfolios) amounted to EUR 19.9 billion. This growth was particularly driven by an additional EUR 13.2 billion increase in the mortgage portfolio across nearly all countries. Further progress was made in expanding our business and consumer lending portfolios.

Net core deposits growth (excluding FX impacts and Treasury) was substantial, at EUR 25.9 billion. This was largely attributed to a successful promotional campaign in Germany and strong contributions from the Netherlands, Spain and Italy.

Commercial NII experienced a slight decline, as the substantial increase in lending and deposit volumes largely offset margin pressure from declining rates.

Net fee and commission income was very strong, rising 15% compared with the first half of 2024. This sharp increase was primarily driven by higher fee income from investment products, reflecting growth in the number of active investment product customers, heightened customer trading activity and an increase in assets under management. Fee income from daily banking, lending and insurance products also increased compared with the prior year.

We maintained cost discipline. Operating expenses amounted to EUR 4,093 million, up 1.8%. Excluding EUR 388 million of regulatory costs (which remained almost flat year-on-year) and EUR 22 million of restructuring costs in the first half of 2025 (down from EUR 34 million in the same period of 2024), expenses increased 2.5% due to higher staff and client acquisition expenses.

Net additions to loan loss provisions amounted to EUR 385 million, or 15 basis points of average customer lending, reflecting our continued strong asset quality.

The combination of