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Condensed financial information of the parent company
 12 Months Ended
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