Company: INGVF
Filing Date: 2025-03-06
Form Type: 20-F
Source: 0001628280-25-010764
Chunk: 167

Company: ING GROEP NV
Filing Date: 2025-03-06
Form: 20-F
Item: Item 6
Chunk 167
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 business banking lending journeys beyond expectation.▪Improved the non-financial risk control processes in line with target while maintaining the effectiveness.               ▪Exceeding expectations by implementing multiple initiatives to support the climate and environmental risk assessment process, among which:–Enhancing the climate stress-testing methodology to assess the impact of climate risks on corporate and mortgage exposures from a credit risk perspective;–Development and implementation of a transition risk scorecard, which is used to quantify transition risk with a scorecard approach at client level in order to identify the pool of high-risk clients within specific sectors;–Developed a tool to measure and assign a level of physical risk for four chronic and nine acute physical risks across the short, medium and long term for portfolios and geographies in which ING operates; and–Developed a new ESG risk assessment approach which considers the (climate and) environmental, social and governance risk factors, negative impacts and dependencies of ING's Wholesale Banking customers, and fully integrates the previous ESR framework. Tooling was developed to support the implementation of the assessment approach in the credit granting process. The new approach was gradually rolled out in 2024.              ▪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 their colleagues, the ability to work hybrid, and the opportunities that support their wellbeing. ▪Female representation in senior management increased in line with expectations from 31 percent at the end of 2023 to 32 percent at the end of 2024 with progress in nearly all domains.             
ING Group Annual Report 2024 on Form 20-F 

Contents       Part I         Part II        Part III       Additional information        Financial statements    
2024 variable remuneration and total direct compensation outcomes
In 2024, we again delivered strong results and executed well on our strategy to accelerate growth, increase impact, and deliver value for all stakeholders. A net result of €6,392 million reflected a record total income, supported by double-digit growth in fee income and strongly increased customer lending and customer deposit volumes. Higher expenses reflected the continued investments in the growth of our business, as well as inflationary effects on staff expenses. Risk costs remained below the through-the-cycle average.
The number of mobile primary customers increased by 1.1 million, resulting in a total of 14.4 million mobile primary customers. Core lending grew