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Segments (Tables) | 12 Months Ended
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Dec. 31, 2023
Disclosure of operating segments [abstract] |
Summary of reconciliation between IFRS and underlying income, expenses and net result |
Reconciliation between IFRS-IASB and IFRS-EU income, expense and net result
12 month period | 2023 |  |  |  |  | 2022 |  |  |  |  | 2021 |  |  |  |
in EUR million | Income | Expenses | Taxation | Non- controlling interests | Net result 1 | Income | Expenses | Taxation | Non- controlling interests | Net result 1 | Income | Expenses | Taxation | Non- controlling interests | Net result 1
Net result IFRS-IASB attributable to equity holder of the parent | 18,121 | 12,084 | 1,662 | 235 | 4,140 | 30,418 | 13,060 | 5,130 | 102 | 12,126 | 20,093 | 11,708 | 2,306 | 128 | 5,951
Remove impact of: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Adjustment of the EU 'IAS 39 carve out' 2 | 4,455 |  | 1,308 |  | 3,147 | -11,856 |  | -3,405 |  | -8,451 | -1,603 |  | -429 |  | -1,174
Result IFRS-EU 2 | 22,575 | 12,084 | 2,970 | 235 | 7,287 | 18,561 | 13,060 | 1,725 | 102 | 3,674 | 18,490 | 11,708 | 1,877 | 128 | 4,776
1 Net result, after tax and non-controlling interests. 2 ING prepares the Form 20-F in accordance with IFRS-IASB. This information is prepared by reversing the hedge accounting impacts that applied under the EU 'carve-out' version of IAS 39. For the IFRS-EU result, the impact of the carve-out is re-instated as this is the measure at which management monitors the business.
Schedule of ING Group total | Th e following table specifies the segments by line of business and main sources of income of each of the segments:
Specification of the main sources of income of each of the segments by line of business
Segments by line of business | Main source of income
Retail Netherlands (Market Leaders) | Income from retail and private banking activities in the Netherlands, including the Business Banking segments. The main products offered are current and savings accounts, business lending, mortgages and other consumer lending.
Retail Belgium (Market Leaders) | Income from retail and private banking activities in Belgium and Luxembourg, including the Business Banking segments. The main products offered are similar to those in the Netherlands.
Retail Germany (Challengers and Growth Markets) | Income from retail and private banking activities in Germany, including the Business Banking segments. The main products offered are similar to those in the Netherlands.
Retail Other (Challengers and Growth Markets) | Income from retail banking activities in the rest of the world, including the Business Banking segments in specific geographies. The main products offered are similar to those in the Netherlands.
Wholesale Banking | Income from wholesale banking activities. The main products are: lending, payments & cash management, working capital solutions, trade finance, financial markets, corporate finance and treasury.
Specification of geographical split of the segments
Geographical split of the segments | Main countries
The Netherlands |
Belgium | Including Luxembourg
Germany 1,4 |
Other Challengers 1,2,4 | Australia, Italy, Spain and Portugal
Growth Markets 2,3,4 | Poland, Romania and Türkiye
Wholesale Banking Rest of World 4 | UK, Ireland & Middle East, Americas, Asia and other countries in Europe
Other 3 | Corporate Line
1 Retail Banking Austria (included in Germany) and Retail Banking Czech Republic (included in Other Challengers) up to and including 2021, after which ING left the retail markets. 2 In 2022, ING discontinued its retail activities in France and the Philippines. 3 In 2023, there was a change in the governance over the Asian stakes, which resulted in their transfer from Retail Banking Growth Markets to Other (Corporate Line). Comparatives have been adjusted. 4 As from 2023, Wholesale Banking in France as well as Wholesale Banking in the Philippines are recorded in Wholesale Banking Rest of World. Previously these financials were reported in Other Challengers and Growth Markets respectively. Comparatives have been adjusted. As from 2022, Wholesale Banking Austria as well as Wholesale Banking Czech Republic are recorded in Wholesale Banking Rest of World. Previously these financials were reported in Germany and Other Challengers respectively.
ING Group Total |  |  |  |  |  |  |  |
12 month period | 2023 |  |  |  | 2022 |  |  |  | 2021 |  |
| ING Bank | Other | Total ING Group |  | ING Bank | Other | Total ING Group |  | ING Bank | Other | Total ING Group
Income |  |  |  |  |  |  |  |  |  |  |
– Net interest income | 15,809 | 166 | 15,976 |  | 13,745 | 11 | 13,756 |  | 13,615 |  | 13,615
– Net fee and commission income | 3,586 | 9 | 3,595 |  | 3,586 |  | 3,586 |  | 3,517 |  | 3,517
– Total investment and other income | 3,006 | -1 | 3,005 |  | 1,215 | 4 | 1,219 |  | 1,354 | 5 | 1,359
Total income | 22,401 | 174 | 22,575 |  | 18,546 | 16 | 18,561 |  | 18,485 | 5 | 18,490
Expenditure |  |  |  |  |  |  |  |  |  |  |
– Operating expenses | 11,563 | 1 | 11,564 |  | 11,193 | 6 | 11,199 |  | 11,195 | -3 | 11,192
– Addition to loan loss provisions | 520 |  | 520 |  | 1,861 |  | 1,861 |  | 516 |  | 516
Total expenses | 12,083 | 1 | 12,084 |  | 13,053 | 6 | 13,060 |  | 11,711 | -3 | 11,708
Result before taxation | 10,318 | 173 | 10,492 |  | 5,493 | 9 | 5,502 |  | 6,774 | 8 | 6,782
Taxation | 2,926 | 44 | 2,970 |  | 1,723 | 2 | 1,725 |  | 1,876 | 1 | 1,877
Non-controlling interests | 235 |  | 235 |  | 102 |  | 102 |  | 128 |  | 128
Net result IFRS-EU | 7,157 | 129 | 7,287 |  | 3,667 | 7 | 3,674 |  | 4,770 | 7 | 4,776
Adjustment of the EU 'IAS 39 carve out' | -3,147 |  | -3,147 |  | 8,451 |  | 8,451 |  | 1,174 |  | 1,174
Net result IFRS-IASB | 4,010 | 129 | 4,140 |  | 12,119 | 7 | 12,126 |  | 5,944 | 7 | 5,951
Summary of segments banking by line of business |
Segments by line of business
12 month period | 2023 |  |  |  |  |  |  | 2022 |  |  |  |  |  |  | 2021 |  |  |  |  |  |
in EUR million | Retail Nether- lands | Retail Belgium | Retail Germany | Retail Other | Wholesale Banking | Corporate Line | Total | Retail Nether- lands | Retail Belgium | Retail Germany | Retail Other 1,2 | Wholesale Banking | Corporate Line 1 | Total | Retail Nether- lands | Retail Belgium | Retail Germany 3 | Retail Other 1,2,3 | Wholesale Banking | Corporate Line 1 | Total
Income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
– Net interest income | 3,096 | 2,063 | 2,862 | 3,437 | 4,028 | 489 | 15,976 | 2,888 | 1,668 | 1,666 | 2,725 | 4,260 | 550 | 13,756 | 3,290 | 1,747 | 1,447 | 2,709 | 4,151 | 270 | 13,615
– Net fee and commission income | 959 | 502 | 357 | 519 | 1,259 | -1 | 3,595 | 892 | 511 | 437 | 535 | 1,217 | -6 | 3,586 | 771 | 519 | 497 | 530 | 1,197 | 3 | 3,517
– Total investment and other income | 945 | 117 | -67 | 277 | 1,771 | -38 | 3,005 | 417 | -32 | 69 | 377 | 849 | -460 | 1,219 | 201 | 209 | 65 | 202 | 568 | 114 | 1,359
Total income | 5,001 | 2,683 | 3,152 | 4,233 | 7,057 | 450 | 22,575 | 4,196 | 2,147 | 2,172 | 3,637 | 6,325 | 84 | 18,561 | 4,262 | 2,475 | 2,009 | 3,441 | 5,916 | 387 | 18,490
Expenditure |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
– Operating expenses | 2,135 | 1,852 | 1,243 | 2,479 | 3,313 | 542 | 11,564 | 2,115 | 1,786 | 1,140 | 2,509 | 3,114 | 535 | 11,199 | 2,403 | 1,667 | 1,174 | 2,442 | 2,926 | 580 | 11,192
– Addition to loan loss provisions | 5 | 169 | 119 | 313 | -92 | 5 | 520 | 67 | 139 | 131 | 302 | 1,220 | 2 | 1,861 | -76 | 225 | 49 | 202 | 117 |  | 516
Total expenses | 2,140 | 2,022 | 1,362 | 2,792 | 3,222 | 547 | 12,084 | 2,182 | 1,924 | 1,271 | 2,812 | 4,334 | 537 | 13,060 | 2,326 | 1,892 | 1,223 | 2,644 | 3,042 | 580 | 11,708
Result before taxation | 2,861 | 661 | 1,790 | 1,441 | 3,836 | -97 | 10,492 | 2,014 | 223 | 901 | 825 | 1,991 | -453 | 5,502 | 1,936 | 583 | 786 | 797 | 2,874 | -193 | 6,782
Taxation | 740 | 182 | 631 | 359 | 900 | 158 | 2,970 | 540 | 72 | 202 | 254 | 581 | 76 | 1,725 | 499 | 146 | 252 | 209 | 703 | 68 | 1,877
Non-controlling interests | 0 | 0 | 0 | 174 | 61 | 0 | 235 | 0 | 0 | 3 | 47 | 52 | 1 | 102 | 0 | 0 | 4 | 98 | 26 | 0 | 128
Net result IFRS-EU | 2,121 | 479 | 1,159 | 908 | 2,875 | -255 | 7,287 | 1,474 | 151 | 696 | 525 | 1,358 | -530 | 3,674 | 1,437 | 437 | 529 | 490 | 2,144 | -261 | 4,776
Adjustment of the EU 'IAS 39 carve out' |  |  |  |  | -3,147 |  | -3,147 |  |  |  |  | 8,451 |  | 8,451 |  |  |  |  | 1,174 |  | 1,174
Net result IFRS-IASB | 2,121 | 479 | 1,159 | 908 | -272 | -255 | 4,140 | 1,474 | 151 | 696 | 525 | 9,810 | -530 | 12,126 | 1,437 | 437 | 529 | 490 | 3,318 | -261 | 5,951
1 In 2023, there was a change in the governance over the Asian stakes, which resulted in their transfer from Retail Other to Corporate Line. Historical figures have been adjusted. 2 In 2022, ING discontinued its retail activities in France and the Philippines. 3 In 2021, ING exited from the retail banking markets in Austria and the Czech Republic.
Summary of geographical segments banking |
Geographical split of the segments
12 month period | 2023 |  |  |  |  |  |  |  | 2022 |  |  |  |  |  |  |  | 2021 |  |  |  |  |  |  |
in EUR million | Nether- lands | Belgium | Ger- many | Other Challen gers | Growth markets | Wholesale Banking Rest of World | Other | Total | Nether- lands | Belgium | Ger- many | Other Challen gers 1,3 | Growth markets 1,2,3 | Wholesale Banking Rest of World 1 | Other 2 | Total | Nether- lands | Belgium | Ger- many 4 | Other Challen gers 1,3,4 | Growth markets 1,2,3 | Wholesale Banking Rest of World 1 | Other 2 | Total
– Net interest income | 3,773 | 2,712 | 3,375 | 2,121 | 1,961 | 1,548 | 486 | 15,976 | 3,782 | 2,065 | 2,126 | 1,842 | 1,462 | 1,933 | 546 | 13,756 | 4,068 | 2,109 | 1,938 | 1,679 | 1,528 | 2,021 | 271 | 13,615
– Net fee and commission income | 1,239 | 715 | 400 | 285 | 384 | 573 | -1 | 3,595 | 1,171 | 714 | 494 | 290 | 375 | 548 | -6 | 3,586 | 1,070 | 717 | 523 | 300 | 351 | 553 | 3 | 3,517
– Total investment and other income | 1,627 | 145 | -81 | 21 | 487 | 829 | -25 | 3,005 | 577 | -14 | 94 | 182 | 386 | 449 | -455 | 1,219 | 314 | 265 | 118 | 64 | 289 | 196 | 113 | 1,359
Total income | 6,639 | 3,573 | 3,694 | 2,427 | 2,833 | 2,950 | 460 | 22,575 | 5,531 | 2,765 | 2,714 | 2,314 | 2,223 | 2,930 | 84 | 18,561 | 5,452 | 3,092 | 2,578 | 2,043 | 2,168 | 2,770 | 387 | 18,490
Expenditure |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
– Operating expenses | 3,065 | 2,195 | 1,437 | 1,320 | 1,495 | 1,509 | 544 | 11,564 | 3,001 | 2,120 | 1,318 | 1,380 | 1,426 | 1,418 | 536 | 11,199 | 3,279 | 1,960 | 1,339 | 1,449 | 1,254 | 1,332 | 580 | 11,192
– Addition to loan loss provisions | -111 | 139 | 35 | 166 | 189 | 96 | 5 | 520 | 181 | 230 | 460 | 140 | 230 | 618 | 2 | 1,861 | 28 | 184 | 118 | 84 | 110 | -8 |  | 516
Total expenses | 2,954 | 2,334 | 1,472 | 1,486 | 1,683 | 1,605 | 549 | 12,084 | 3,182 | 2,350 | 1,778 | 1,519 | 1,657 | 2,036 | 538 | 13,060 | 3,307 | 2,143 | 1,457 | 1,533 | 1,363 | 1,324 | 580 | 11,708
Result before taxation | 3,685 | 1,239 | 2,222 | 941 | 1,149 | 1,345 | -89 | 10,492 | 2,349 | 415 | 936 | 795 | 567 | 894 | -454 | 5,502 | 2,145 | 948 | 1,121 | 511 | 804 | 1,446 | -193 | 6,782
Retail Banking | 2,861 | 661 | 1,790 | 649 | 792 |  |  | 6,753 | 2,014 | 223 | 901 | 547 | 278 |  |  | 3,964 | 1,936 | 583 | 786 | 206 | 590 |  |  | 4,101
Wholesale Banking | 824 | 577 | 432 | 292 | 357 | 1,345 | 8 | 3,836 | 335 | 192 | 34 | 248 | 288 | 894 |  | 1,991 | 209 | 365 | 336 | 304 | 214 | 1,446 |  | 2,874
Corporate Line |  |  |  |  |  |  | -97 | -97 |  |  |  |  |  |  | -453 | -453 |  |  |  |  |  |  | -193 | -193
Result before taxation | 3,685 | 1,239 | 2,222 | 941 | 1,149 | 1,345 | -89 | 10,492 | 2,349 | 415 | 936 | 795 | 567 | 894 | -454 | 5,502 | 2,145 | 948 | 1,121 | 511 | 804 | 1,446 | -193 | 6,782
Taxation | 909 | 349 | 723 | 282 | 225 | 335 | 148 | 2,970 | 658 | 114 | 297 | 258 | 153 | 186 | 60 | 1,725 | 556 | 240 | 358 | 156 | 174 | 326 | 67 | 1,877
Non-controlling interests |  |  |  |  | 234 |  |  | 235 |  |  | 3 |  | 98 |  | 1 | 102 |  |  | 4 |  | 124 |  |  | 128
Net result IFRS-EU | 2,776 | 889 | 1,499 | 659 | 690 | 1,011 | -237 | 7,287 | 1,691 | 301 | 636 | 537 | 316 | 708 | -515 | 3,674 | 1,589 | 708 | 759 | 355 | 506 | 1,120 | -260 | 4,776
Adjustment of the EU 'IAS 39 carve out' | -277 | -1,012 | -1,825 | -9 |  | -23 |  | -3,147 | 2,818 | 1,570 | 3,911 | 15 |  | 137 |  | 8,451 | 723 | 47 | 390 |  |  | 14 |  | 1,174
Net result IFRS-IASB | 2,499 | -123 | -326 | 649 | 690 | 988 | -237 | 4,140 | 4,510 | 1,871 | 4,547 | 552 | 316 | 845 | -515 | 12,126 | 2,312 | 755 | 1,149 | 355 | 506 | 1,134 | -260 | 5,951
1 As from 2023, Wholesale Banking in France as well as Wholesale Banking in the Philippines are recorded in Wholesale Banking Rest of World. Previously the financials of Wholesale Banking in France and Wholesale Banking in the Philippines were reported in Other Challengers and Growth Markets respectively. Historical figures have been adjusted. 2 In 2023, there was a change in the governance over the Asian stakes, which resulted in their transfer form Growth Markets to Other (Corporate Line). Historical figures have been adjusted. 3 In 2022, ING discontinued its retail activities in France and the Philippines. 4 4 In 2021, ING exited from the retail banking markets in Austria (included in Germany) and the Czech Republic (included in Other Challengers).

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