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Condensed financial information of the parent company | 12 Months Ended
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Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract] |
Condensed financial information of the parent company | Condensed financial information of the parent company Parent company condensed statement of financial position as at 31 December before appropriation of result
in EUR million | 2023 | 2022 |  |  | 2023 | 2022
Assets |  |  |  | Equity |  |
Investments in group companies | 43,687 | 49,192 |  | Share capital | 35 | 37
Fixed assets | 43,687 | 49,192 |  | Share premium | 17,116 | 17,116
|  |  |  | Legal and statutory reserves | -773 | -986
Receivables from group companies 1 | 70,524 | 65,704 |  | Other reserves | 35,761 | 29,002
Other assets | 11 | 16 |  | Unappropriated result | 2,544 | 11,331
Current assets | 70,535 | 65,720 |  | Total equity | 54,684 | 56,500
|  |  |  | Liabilities |  |
|  |  |  | Subordinated loans | 16,330 | 16,441
|  |  |  | Debenture loans | 42,569 | 41,609
|  |  |  | Other non-current liabilities | 0 | 0
|  |  |  | Non-current liabilities | 58,899 | 58,051
|  |  |  | Amounts owed to group companies | 56 | 56
|  |  |  | Other liabilities | 584 | 305
|  |  |  | Current liabilities | 639 | 360
Total assets | 114,222 | 114,912 |  | Total equity and liabilities | 114,222 | 114,912
1 Receivables from Group companies include EUR 16,330 million subordinated loans provided by ING Groep N.V. to ING Bank N.V. (2022: EUR 16,441 million). Parent company condensed statement of profit or loss for the years ended 31 December
in EUR million | 2023 | 2022 | 2021
Staff expenses | 0 | 0 | 3
Other expenses | 7 | 9 | 5
Total expenses | 7 | 8 | 8
Interest and other financial income | 2,003 | 1,466 | 1,148
Valuation results | 0 | -1 | 0
Interest and other financial expenses | -1,828 | -1,450 | -1,143
Net interest and other financial income | 174 | 15 | 5
Result before tax | 167 | 7 | -3
Taxation | 43 | 2 | 0
Result after tax | 124 | 5 | -3
Result from (disposal of) group companies and participating interests after taxation | 4,016 | 12,121 | 5,954
Net result | 4,140 | 12,126 | 5,951
Parent company condensed statement of changes in equity
in EUR million | Share capital | Share premium | Legal and statutory reserves | Other reserves | Unappropriated results | Total
Balance as at 31 December 2022 | 37 | 17,116 | -986 | 29,002 | 11,331 | 56,500
Realised and unrealised revaluations of equity securities |  |  | -34 | -1 |  | -35
Unrealised revaluations debt instruments and other revaluations |  |  | 53 |  |  | 53
Realised gains/losses transferred to the statement of profit or loss |  |  | 9 |  |  | 9
Changes in cash flow hedge reserve |  |  | 997 |  |  | 997
Change in fair value of own credit risk of financial liabilities at fair value through profit or loss |  |  | -39 |  |  | -39
Realised and unrealised revaluations property in own use |  |  | 2 | 8 |  | 10
Remeasurement of the net defined benefit asset/liability |  |  | -85 |  |  | -85
Exchange rate differences and other |  |  | -132 |  |  | -132
Total amount recognised directly in equity |  |  | 770 | 7 |  | 776
Net result |  |  | 336 |  | 3,804 | 4,140
Total comprehensive income net of tax |  |  | 1,106 | 7 | 3,804 | 4,916
Transfer from Unappropriated result |  |  |  | 9,923 | -9,923 |
Dividends and other distributions |  |  |  |  | -2,668 | -2,668
Share buyback | -2 |  |  | -3,998 |  | -4,000
Changes in treasury shares |  |  |  | -8 |  | -8
Employee share plans |  |  |  | -7 |  | -7
Changes in the composition of the group and other changes |  |  | -892 | 842 |  | -50
Balance as at 31 December 2023 | 35 | 17,116 | -773 | 35,761 | 2,544 | 54,684
Parent company condensed statement of changes in equity - continued
in EUR million | Share capital | Share premium | Legal and statutory reserves | Other reserves | Unappropriated results | Total
Balance as at 31 December 2021 | 39 | 17,105 | 1,073 | 28,909 | 4,940 | 52,066
Realised and unrealised revaluations of equity securities |  |  | -95 | -23 |  | -118
Unrealised revaluations debt instruments and other revaluations |  |  | -413 |  |  | -413
Realised gains/losses transferred to the statement of profit or loss |  |  | -24 |  |  | -24
Changes in cash flow hedge reserve |  |  | -2,901 |  |  | -2,901
Change in fair value of own credit risk of financial liabilities at fair value through profit or loss |  |  | 150 | 15 |  | 165
Realised and unrealised revaluations property in own use |  |  | -32 | 26 |  | -5
Remeasurement of the net defined benefit asset/liability |  |  | -19 |  |  | -19
Exchange rate differences and other |  |  | 1,115 | -26 |  | 1,088
Total amount recognised directly in equity |  |  | -2,220 | -8 |  | -2,228
Net result |  |  | 161 |  | 11,965 | 12,126
Total comprehensive income net of tax |  |  | -2,059 | -8 | 11,965 | 9,898
Transfer from Unappropriated result |  |  |  | 4,940 | -4,940 |
Dividends and other cash distributions |  |  |  | -2,715 | -634 | -3,349
Share buyback programme | -2 |  |  | -1,580 |  | -1,582
Changes in treasury shares |  |  |  | 4 |  | 4
Employee share plans |  | 12 |  | 15 |  | 27
Changes in the composition of the group and other changes |  |  |  | -564 |  | -564
Balance as at 31 December 2022 | 37 | 17,116 | -986 | 29,002 | 11,331 | 56,500
Parent company condensed statement of changes in equity - continued
in EUR million | Share capital | Share premium | Legal and statutory reserves | Other reserves | Unappropriated results | Total
Balance as at 31 December 2020 | 39 | 17,089 | 2,347 | 29,988 | 2,156 | 51,619
Realised and unrealised revaluations of equity securities |  |  | 101 | -6 |  | 94
Unrealised revaluations debt instruments and other revaluations |  |  | -173 |  |  | -173
Realised gains/losses transferred to the statement of profit or loss |  |  | -40 |  |  | -40
Changes in cash flow hedge reserve |  |  | -1,603 |  |  | -1,603
Change in fair value of own credit risk of financial liabilities at fair value through profit or loss |  |  | 37 |  |  | 37
Realised and unrealised revaluations property in own use |  |  | -13 | 11 |  | -2
Remeasurement of the net defined benefit asset/liability |  |  | 95 |  |  | 95
Exchange rate differences and other |  |  | 132 | 18 |  | 150
Total amount recognised directly in equity |  |  | -1,465 | 23 |  | -1,442
Net result |  |  | 191 |  | 5,760 | 5,951
Total comprehensive income net of tax |  |  | -1,274 | 23 | 5,760 | 4,509
Transfer from Unappropriated result |  |  |  | 2,156 | -2,156 |
Dividends and other cash distributions |  |  |  | -1,522 | -820 | -2,342
Share buyback programme |  |  |  | -1,744 |  | -1,744
Changes in treasury shares |  |  |  | -4 |  | -4
Employee share plans |  | 16 |  | 12 |  | 29
Balance as at 31 December 2021 | 39 | 17,105 | 1,073 | 28,909 | 4,940 | 52,066
Parent company condensed statement of cash flows for the years ended 31 December
in EUR million |  | 2023 | 2022 | 2021 |  |  |  | 2023 | 2022 | 2021
Cash flows from operating activities |  |  |  |  | Cash flows from financing activities |  |  |
Result before tax |  | 167 | 7 | -3 |  | Proceeds from debt securities | 6,012 | 11,176 | 7,912
Adjusted for: | – non-cash items in Result before tax | 221 | 213 | 65 |  | Repayments of debt securities | -4,591 | -4,302 |
Taxation paid |  | 0 | 16 | 0 |  | Proceeds from issuance of subordinated loans | 2,240 | 993 | 3,182
Changes in: | – Net change in Loans and advances to/from banks, not available/payable on demand | -6,485 | -8,191 | -9,298 |  | Repayments of subordinated loans | -2,132 | -1,090 | -994
| – Other | 19 | -84 | -86 |  | Purchase of treasury shares (share buyback programme) | -3,524 | -1,721 | -1,604
Net cash flow from/(used in) operating activities | -6,079 | -8,040 | -9,323 |  | Dividends paid | -2,964 | -3,052 | -2,342
|  |  |  |  | Other financing |  |  | 1
Cash flows from investing activities |  |  |  |  | Net cash flow from/(used in) financing activities | -4,959 | 2,004 | 6,154
Disposals and redemptions: | – dividends received from group companies | 10,269 | 6,277 | 3,125 |  |  |  |  |
| – securities at amortised cost | 1,000 |  |  |  | Net cash flow | 231 | 241 | -44
Net cash flow from/(used in) investing activities | 11,269 | 6,277 | 3,125 |  |  |  |  |
|  |  |  |  |  | Cash and cash equivalents at beginning of year | 383 | 142 | 186
|  |  |  |  | Effect of exchange rate changes on cash and cash equivalents | 0 | 0 | -1
|  |  |  |  |  | Cash and cash equivalents at end of year | 614 | 383 | 142
Five-year schedule of maturities of subordinated and debenture loans
| Subordinated loans | Debenture loans
in EUR million | 2023 | 2022 | 2023 | 2022
Less than 1 year |  |  | 1,474 | 4,639
1 to 2 years |  |  | 3,250 | 1,570
2 to 3 years |  |  | 7,616 | 3,250
3 to 4 years |  |  | 7,049 | 7,716
4 to 5 years |  |  | 7,306 | 5,563
Longer than 5 years | 9,317 | 10,113 | 15,875 | 18,872
Maturity not applicable | 7,014 | 6,329 |  |
| 16,330 | 16,441 | 42,569 | 41,609
As at 31 December 2023 ING Groep N.V. has issued USD 7,750 million (2022: USD 6,750 million) Perpetual Additional Tier 1 Contingent Convertible Capital Securities which can, in accordance with their terms and conditions, convert by operation of law into ordinary shares if the conditions to such a conversion are fulfilled. As a result of this conversion, the issued share capital can increase by up to 864 million (2022: 750 million) ordinary shares. Reference is made to the ING Group Consolidated financial statements, Note 18 'Subordinated loans' and Note 19 'Equity'. The number of debentures held by Group companies as at 31 December 2023 is nil (2022

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