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Subordinated loans

6 Months Ended

Jun. 30, 2024

Subordinated liabilities [abstract]

Subordinated loans

11 Subordinated loans
Subordinated loans are bonds issued by ING Groep N.V. to raise Tier 1 and Tier 2 (CRR eligible) capital. Under IFRS, these securities are classified as liabilities and for regulatory purposes, they are considered as capital.

Changes in subordinated loans
in EUR million			30 June 2024			31 December 2023
Opening balance as at 1 January			15,401			15,786
Additions			2,385			2,225
Redemptions / Disposals			-1,970			-2,894
Amortisation			11			34
Other			-40			12
Changes in unrealised revaluations			-72			473
Foreign exchange movement			217			-235
Closing balance			15,933			15,401

ING Groep N.V. issued in February 2024 USD 1.25 billion 8.00% Perpetual Additional Tier 1 Contingent Convertible Capital Securities and EUR 1.25 billion 4.38% Fixed Rate Subordinated Tier 2 Notes in May 2024.

ING Groep N.V. redeemed USD 750 million 2.50% Fixed Rate Subordinated Tier 2 notes in February 2024 and USD 1.25 billion 6.75% Perpetual AT1 Contingent Convertible Capital Securities in April 2024 on their first call dates.

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- Definition

The disclosure of borrowings. [Refer: Borrowings]

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- References

No definition available.

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