Company: INGVF
Filing Date: 2025-03-06
Form Type: 20-F
Source: 0001628280-25-010764
Chunk: 162

Company: ING GROEP NV
Filing Date: 2025-03-06
Form: 20-F
Item: Item 6
Chunk 162
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ries, not limited to traditional banking competitors.    
Balancing                  ING acknowledges the importance of not losing sight of relevant peer companies that do not match on the other criteria.                      
Based on these principles, the current peer group has been updated. In line with the Executive Board remuneration policy, the peer group has been increased to 20 companies by adding two banks from the United Kingdom and two European banks. These are aligned to ING in terms of size, business profile, and the changing landscape in the markets in which ING competes for executive talent (as defined by the peer group guiding principles). In recent years, the United Kingdom has proven to be an increasingly important talent market for our executive talent. 
The peer group comprises:

▪ABN AMRO▪Aegon1▪Ahold Delhaize▪ASML▪Banco Santander        ▪BBVA▪BNP Paribas▪Commerzbank▪Crédit Agricole▪Deutsche Bank       ▪Heineken▪Intesa Sanpaolo▪KBC▪Lloyds Banking Group▪NatWest        ▪NN Group▪Philips▪Rabobank▪Société Générale▪UniCredit    
ING Group Annual Report 2024 on Form 20-F 

Contents       Part I         Part II        Part III       Additional information        Financial statements    
<{self.tag} alt="{self.alt}" src="{self.src}"><{self.tag} alt="{self.alt}" src="{self.src}">In line with the requirements laid out in the Dutch Banking Code, the actual earned total direct compensation of members of the EB under the Executive Board remuneration policy should be below the market median of the peer group. The calculation of pay positioning of the EB members against the peer group is performed on this basis (i.e. actual fixed salary plus actual variable remuneration). Based on the latest available survey data of actual total direct compensation earned, ING's EB members were all paid below the market median as shown in the chart below. The CEO is positioned 56% below the median on total compensation, the CFO is positioned 25% below the median and the CRO is positioned 7% below the median on total compensation.
Comparing actual total direct compensation against the EB peer group and market benchmark
Annual review of the Executive Board remuneration
In accordance with the Executive Board (EB) remuneration policy