Company: INGVF
Filing Date: 2025-03-06
Form Type: 20-F
Source: 0001628280-25-010764
Chunk: 172

Company: ING GROEP NV
Filing Date: 2025-03-06
Form: 20-F
Item: Item 6
Chunk 172
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 2022                 1:25
                          2021                 1:28
                          2020                 1:31
ING is also required to disclose the annual total remuneration ratio based on ESRS, which deviates from the internal ratio. For further details please see section S1 - Own workforce. 
Furthermore, we calculated the average ratio of total remuneration for the chief financial officer (CFO) and chief risk officer (CRO) compared to all ING staff. On that basis, the average ratio in 2024 for the CFO and CRO was 1:18, which is comparable to that of 2023.

Remuneration versus company performance and average employee remuneration
Table 8 (on the next page) shows the development of directors’ remuneration (EB and SB members), company performance, and the average remuneration of an ING employee. This is carried out by showing the development of the remuneration for EB and SB members over the past five years presented in percentages. This table comes from the draft (non-binding) 'Guidelines on the standardised presentation of the remuneration report' from the European Commission. 
To maintain the Supervisory Board's independent role, its remuneration is not linked to company performance metrics. 
The relative performance of the company is presented on three different metrics over the past five years. The metrics consist of: 
•Retail primary relationships;
•Profit before tax for ING Group; and
•Return on equity based on IFRS-EU equity. 
Finally, we present the development of the remuneration on average (per employee). For this number, we use the same data as for the internal ratio.

ING Group Annual Report 2024 on Form 20-F 

Contents       Part I         Part II        Part III       Additional information        Financial statements    

8. Development of directors’ remuneration, company performance and employee remuneration ¹                                                                                                                                                                  
Amount in thousands of euros unless otherwise stated             FY 2024                  FY 2024 vs FY 2023                  FY 2023 vs FY 2022                  FY 2022 vs FY 2021                  FY 2021 vs FY 2020   FY 2020 vs FY 2019               
Directors' remuneration (Executive Board) 2, 3, 4, 5                                                                                                                                                                                                        
Steven van Rijswijk (CEO)                                          2,159