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Equity (Tables) | 12 Months Ended
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Dec. 31, 2024
Equity [abstract] |
Summary of equity |
Total equity
In EUR million | 2024 | 2023 | 2022
Share capital and share premium |  |  |
- Share capital | 31 |  | 35 |  | 37 |
- Share premium | 17,116 |  | 17,116 |  | 17,116 |
| 17,148 |  | 17,151 |  | 17,154 |
Other reserves |  |  |
- Revaluation reserve: Equity securities at FVOCI | 1,816 |  | 1,152 |  | 1,187 |
- Revaluation reserve: Debt instruments at FVOCI | -479 |  | -280 |  | -341 |
- Revaluation reserve: Cash flow hedge | -1,693 |  | -2,058 |  | -3,055 |
- Revaluation reserve: Credit liability | -15 |  | 31 |  | 70 |
- Revaluation reserve: Property in own use | 161 |  | 178 |  | 176 |
- Net defined benefit asset/liability remeasurement reserve | -333 |  | -317 |  | -232 |
- Currency translation reserve | -1,986 |  | -2,527 |  | -2,395 |
- Share of associates and joint ventures and other reserves | 2,607 |  | 3,047 |  | 3,603 |
- Treasury shares | -765 |  | -1,994 |  | -1,205 |
| -687 |  | -2,767 |  | -2,192 |
Retained earnings | 36,243 |  | 40,299 |  | 41,538 |
Shareholders’ equity (parent) | 52,703 |  | 54,684 |  | 56,500 |
Non-controlling interests | 995 |  | 944 |  | 504 |
Total equity | 53,698 |  | 55,628 |  | 57,004 |
Schedule of share capital |
Share capital
|  | Ordinary shares (par value EUR 0.01)
| Number x 1,000 | In EUR million
| 2024 | 2023 | 2022 | 2024 | 2023 | 2022
Authorised share capital | 9,142,000 | 9,142,000 | 9,142,000 | 91 |  | 91 |  | 91 |
Unissued share capital | 5,994,609 | 5,643,806 | 5,415,461 | 60 |  | 56 |  | 54 |
Issued share capital | 3,147,391 | 3,498,194 | 3,726,539 | 31 |  | 35 |  | 37 |
Reserves and other equity interest |
Changes in issued share capital
| Ordinary shares (par value EUR 0.01)
| Number x 1,000 | In EUR million
Issued share capital as at 31 December 2021 | 3,904,065 | 39 |
Issue of shares | 2,935 |  |
Cancellation of shares | -180,461 | -2 |
Issued share capital as at 31 December 2022 | 3,726,539 | 37 |
Issue of shares | 5 |  |
Cancellation of shares | -228,350 | -2 |
Issued share capital as at 31 December 2023 | 3,498,194 | 35 |
Cancellation of shares | -350,803 | -4 |
Issued share capital as at 31 December 2024 | 3,147,391 | 31 |
Share premium
In EUR million | 2024 | 2023 | 2022
Opening balance | 17,116 |  | 17,116 |  | 17,105 |
Issue of shares | 0 |  | 0 |  | 12 |
Closing balance | 17,116 |  | 17,116 |  | 17,116 |
Changes in revaluation reserve: Equity securities and Debt instruments at FVOCI
| Equity securities at FVOCI | Debt instruments at FVOCI
In EUR million | 2024 | 2023 | 2022 | 2024 | 2023 | 2022
Opening balance | 1,152 |  | 1,187 |  | 1,282 |  | -280 |  | -341 |  | 96 |
Unrealised revaluations | 664 |  | -35 |  | -118 |  | -261 |  | 53 |  | -412 |
Realised gains/losses transferred to the statement of profit or loss |  |  |  | 62 |  | 9 |  | -25 |
Realised revaluations transferred to retained earnings | 0 |  | 1 |  | 23 |  |  |  |
Closing balance | 1,816 |  | 1,152 |  | 1,187 |  | -479 |  | -280 |  | -341 |
Changes in cash flow hedge and credit liability reserve
| Cash flow hedge | Credit liability
In EUR million | 2024 | 2023 | 2022 | 2024 | 2023 | 2022
Opening balance | -2,058 |  | -3,055 |  | -153 |  | 31 |  | 70 |  | -80 |
Changes in credit liability reserve |  |  |  |  |  |  | -46 |  | -39 |  | 165 |
Unrealised revaluations | 365 |  | 997 |  | -2,901 |  |  |  |  |  |  |
Realised revaluations transferred to retained earnings |  |  |  |  |  |  |  |  |  | -15 |
Closing balance | -1,693 |  | -2,058 |  | -3,055 |  | -15 |  | 31 |  | 70 |
Changes in Property in own use reserve |  |
In EUR million | 2024 | 2023 | 2022
Opening balance | 178 |  | 176 |  | 208 |
Impact of IAS 29 on opening balance 1 |  |  |  | -20 |
Unrealised revaluations | 3 |  | 10 |  | 15 |
Realised revaluations transferred to retained earnings | -20 |  | -8 |  | -26 |
Closing balance | 161 |  | 178 |  | 176 |
1 Impact of application of hyperinflation accounting under IAS 29.
Changes in currency translation reserve
In EUR million | 2024 | 2023 | 2022
Opening balance | -2,527 |  | -2,395 |  | -3,483 |
Impact of IAS 29 on opening balance 1 |  |  |  | 647 |
Unrealised revaluations | -222 |  | 183 |  | -7 |
Realised gains/losses transferred to the statement of profit or loss | 1 |  |  |  | 4 |
Exchange rate differences | 763 |  | -316 |  | 444 |
Closing balance | -1,986 |  | -2,527 |  | -2,395 |
1 Impact of application of hyperinflation accounting under IAS 29.
Changes in share of associates, joint ventures and other reserves
In EUR million | 2024 | 2023 | 2022
Opening balance | 3,047 |  | 3,603 |  | 3,416 |
Result for the year | 125 |  | 336 |  | 161 |
Transfer to/from retained earnings | -565 |  | -892 |  | 26 |
Closing balance | 2,607 |  | 3,047 |  | 3,603 |
Changes in treasury shares
| In EUR million | Number x 1,000
| 2024 | 2023 | 2022 | 2024 | 2023 | 2022
Opening balance | -1,994 |  | -1,205 |  | -1,612 |  | 154,571 |  | 107,395 |  | 128,301 |
Purchased/sold for trading purposes | 2 |  | -7 |  | 4 |  | -211 |  | 464 |  | -312 |
Purchased under staff share plans | -43 |  | -42 |  |  |  | 3,319 |  | 3,156 |  |
Distributed under staff share plans | 43 |  | 41 |  |  |  | -3,343 |  | -3,106 |  |
Purchased under Share buyback programme | -3,774 |  | -3,482 |  | -1,721 |  | 247,584 |  | 275,013 |  | 159,866 |
Cancelled Share buyback programme | 5,000 |  | 2,701 |  | 2,124 |  | -350,803 |  | -228,350 |  | -180,461 |
Closing balance | -765 |  | -1,994 |  | -1,205 |  | 51,117 |  | 154,571 |  | 107,395 |
Changes in retained earnings
In EUR million | 2024 | 2023 | 2022
Opening balance | 40,299 |  | 41,538 |  | 35,462 |
Impact on opening balance 1 |  |  | -45 |  | -563 |
Transfer to/from other reserves | 585 |  | 899 |  | -8 |
Result for the year | 5,209 |  | 3,804 |  | 11,965 |
Dividend and other distributions | -4,124 |  | -2,668 |  | -3,349 |
Employee share plans | 1 |  | -7 |  | 15 |
Share buybacks and other changes | -5,728 |  | -3,222 |  | -1,984 |
Closing balance | 36,243 |  | 40,299 |  | 41,538 |
1 In 2023, changes in policy following the adoption of IFRS 17 and change in policy for non-financial guarantees. 2022: impact of application of hyperinflation accounting under IAS 29.
Non-distributable reserves
In EUR million | 2024 | 2023 | 2022
ING Bank | 5,672 |  | 6,727 |  | 8,408 |
Other | 0 |  | 0 |  | 0 |
Non-distributable reserves | 5,672 |  | 6,727 |  | 8,408 |
The following table shows the movement of the cash flow hedge reserve:
Movement cash flow hedge reserve
in EUR million | 2024 | 2023
Opening balance | -2,058 |  | -3,055 |
Value changes recognised in OCI | 743 |  | 1,922 |
Amounts recycled to profit or loss | -209 |  | -325 |
Income tax | -140 |  | -381 |
Exchange rate and other changes | -14 |  | -103 |
Adjustment for non controlling interest | -14 |  | -116 |
Movement for the year | 365 |  | 997 |
Ending balance | -1,693 |  | -2,058 |

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