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Subordinated loans
 12 Months Ended
Dec. 31, 2023
Subordinated liabilities [abstract]  
Subordinated loans 18  Subordinated loans
Subordinated loans
In EUR million
2023
2022
Subordinated loans
15,401
15,786
Subordinated loans are bonds issued by ING Groep N.V. and ING Bank N.V. to raise Tier 1 and Tier 2 (CRD IV
eligible) capital. Under IFRS these bonds are classified as liabilities and for regulatory purposes, they are
considered capital.
In 2023 ING Groep N.V. issued in February EUR 500 million 5.00% Fixed Rate Subordinated Tier 2 Notes, GBP
750 million  6.25% Fixed Rate Subordinated Tier 2 Notes and USD 1 billion 7.50% Perpetual AT1 Contingent
Convertible Capital Securities.
In 2023 ING Groep N.V. redeemed in March  USD 1,250 million 4.70% Fixed Subordinated Tier 2 notes, in April 
EUR 1 billion 3.00% Fixed Subordinated Tier 2 notes on the first call dates.
In 2023 ING Bank N.V. redeemed in September USD 810 million 5.80% Fixed Rate Subordinated Tier 2 notes. 
Reference is made to Note 32 'Changes in liabilities arising from financing activities' for further information
on issuances and redemptions.
The average interest rate on subordinated loans is 4.44% (2022: 4.01%). The interest expense during the
year 2023 was EUR 708 million (2022: EUR 648 million).