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Condensed financial information of the parent company | 12 Months Ended
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Dec. 31, 2024
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 | 2024 | 2023 |  |  | 2024 | 2023
Assets |  |  |  | Equity |  |
Investments in group companies | 45,187 | 43,687 |  | Share capital | 31 | 35
Fixed assets | 45,187 | 43,687 |  | Share premium | 17,116 | 17,116
|  |  |  | Legal and statutory reserves | 78 | -773
Receivables from group companies 1 | 77,739 | 70,524 |  | Other reserves | 31,397 | 35,761
Other assets | 16 | 11 |  | Unappropriated result | 4,080 | 2,544
Current assets | 77,755 | 70,535 |  | Total equity | 52,703 | 54,684
|  |  |  | Liabilities |  |
|  |  |  | Subordinated loans | 18,522 | 16,330
|  |  |  | Debenture loans | 49,751 | 42,569
|  |  |  | Other non-current liabilities | 0 | 0
|  |  |  | Non-current liabilities | 68,273 | 58,899
|  |  |  | Amounts owed to group companies | 72 | 56
|  |  |  | Other liabilities | 1,893 | 584
|  |  |  | Current liabilities | 1,966 | 639
Total assets | 122,942 | 114,222 |  | Total equity and liabilities | 122,942 | 114,222
1 Receivables from Group companies include EUR 18,523 million subordinated loans provided by ING Groep N.V. to ING Bank N.V. (2023: EUR 16,330 million). Parent company condensed statement of profit or loss for the years ended 31 December
in EUR million | 2024 | 2023 | 2022
Staff expenses | 0 | 0 | 0
Other expenses | 8 | 7 | 9
Total expenses | 8 | 7 | 8
Interest and other financial income | 2,497 | 2,003 | 1,466
Valuation results | 0 | 0 | -1
Interest and other financial expenses | -2,217 | -1,828 | -1,450
Net interest and other financial income | 281 | 174 | 15
Result before tax | 273 | 167 | 7
Taxation | 70 | 43 | 2
Result after tax | 202 | 124 | 5
Result from (disposal of) group companies and participating interests after taxation | 5,132 | 4,016 | 12,121
Net result | 5,334 | 4,140 | 12,126
Parent company condensed statement of other comprehensive income for the years ended 31 December
in EUR million | 2024 | 2023 | 2022
Net result | 5,334 |  | 4,140 |  | 12,126 |
Other comprehensive income |  |  |
Items that will not be reclassified to the statement of profit or loss: |  |  |
Equity-accounted investees - share of OCI | 604 | -149 | 22
Items that may subsequently be reclassified to the statement of profit or loss: |  |  |
Equity-accounted investees - share of OCI | 706 | 926 | -2,250
Total other comprehensive income | 1,311 | 776 | -2,228
Total comprehensive income | 6,645 | 4,916 | 9,898
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 2023 | 35 | 17,116 | -773 | 35,761 | 2,544 | 54,684
Net results |  |  | 125 |  | 5,209 | 5,334
Amounts net of tax directly recognised in equity |  |  | 1,311 |  | 0 | 1,311
Total comprehensive income net of tax |  |  | 1,436 |  | 5,209 | 6,645
Dividends |  |  |  | -498 | -3,626 | -4,124
Share buyback programmes, commitment |  |  |  | -4,500 |  | -4,500
Share buyback programmes, cancellation of shares | -4 |  |  | 4 |  |
Employee share-based compensation plans |  |  |  | 2 |  | 2
Other changes in treasury shares |  |  |  | 2 |  | 2
Transfers |  |  | -585 | 631 | -47 |
Other changes |  |  |  | -5 |  | -5
Balance as at 31 December 2024 | 31 | 17,116 | 78 | 31,397 | 4,080 | 52,703
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 2022 | 37 |  | 17,116 |  | -986 |  | 29,002 |  | 11,331 |  | 56,500 |
Net results |  |  | 336 |  |  |  | 3,804 |  | 4,140 |
Amounts net of tax directly recognised in equity |  |  | 776 |  |  |  |  |  | 776 |
Total comprehensive income net of tax |  |  | 1,112 |  | 3,804 | 4,916
Dividends |  |  |  |  |  |  | -2,668 |  | -2,668 |
Share buyback programmes, commitment |  |  |  |  | -4,000 |  |  |  | -4,000 |
Share buyback programmes, cancellation of shares | -2 |  |  |  |  | 2 |  |  |  |  |
Employee share-based compensation plans |  |  |  |  | -7 |  |  |  | -7 |
Other changes in treasury shares |  |  |  |  | -7 |  |  |  | -7 |
Transfers |  |  | -899 |  | 10,823 |  | -9,923 |  |  |
Other changes |  |  |  |  | -50 |  |  |  | -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 |  | 28,892 |  | 4,957 |  | 52,066 |
Net results |  |  | 161 |  |  | 11,965 |  | 12,126 |
Amounts net of tax directly recognised in equity |  |  | -2,228 |  |  |  | -2,228 |
Total comprehensive income net of tax |  |  | -2,067 |  | 11,965 | 9,898
Dividends |  |  |  | -1,171 |  | -2,178 |  | -3,349 |
Share buyback programmes, commitment |  |  |  | -1,583 |  |  | -1,583 |
Share buyback programmes, cancellation of shares | -2 |  |  |  | 2 |  |  |  |
Employee share-based compensation plans |  | 12 |  |  | 15 |  |  | 27 |
Other changes in treasury shares |  |  |  | 4 |  |  | 4 |
Transfers |  |  | 8 |  | 3,405 |  | -3,412 |  |  |
Other changes |  |  |  | -562 |  |  | -562 |
Balance as at 31 December 2022 | 37 |  | 17,116 |  | -986 |  | 29,002 |  | 11,331 |  | 56,500 |
Parent company condensed statement of cash flows for the years ended 31 December
in EUR million |  | 2024 | 2023 | 2022 |  |  |  | 2024 | 2023 | 2022
Cash flows from operating activities |  |  |  |  | Cash flows from financing activities |  |  |
Result before tax |  | 273 |  | 167 |  | 7 |  |  | Proceeds from debt securities | 9,480 |  | 6,012 |  | 11,176 |
Adjusted for: | – non-cash items in Result before tax | 232 |  | 221 |  | 213 |  |  | Repayments of debt securities | -3,695 |  | -4,591 |  | -4,302 |
Taxation paid |  | 0 |  | 0 |  | 16 |  |  | Proceeds from issuance of subordinated loans | 4,492 |  | 2,240 |  | 993 |
Changes in: | – Net change in Loans and advances to/from banks, not available/payable on demand | -5,899 |  | -6,485 |  | -8,191 |  |  | Repayments of subordinated loans | -2,944 |  | -2,132 |  | -1,090 |
| – Other | -66 |  | 19 |  | -84 |  |  | Purchase of treasury shares (share buyback programme) | -3,817 |  | -3,524 |  | -1,721 |
Net cash flow from/(used in) operating activities | -5,461 |  | -6,079 |  | -8,040 |  |  | Dividends paid | -3,626 |  | -2,964 |  | -3,052 |
|  |  |  |  | Other financing |  |  |  |  |  |
Cash flows from investing activities |  |  |  |  | Net cash flow from/(used in) financing activities | -109 |  | -4,959 |  | 2,004 |
Disposals and redemptions: | – dividends received from group companies | 4,986 |  | 10,269 |  | 6,277 |  |  |  |  |  |
| – securities at amortised cost |  |  | 1,000 |  |  |  |  | Net cash flow | -583 |  | 231 |  | 241 |
Net cash flow from/(used in) investing activities | 4,986 |  | 11,269 |  | 6,277 |  |  |  |  |  |
|  |  |  |  |  | Cash and cash equivalents at beginning of year | 614 |  | 383 |  | 142 |
|  |  |  |  | Effect of exchange rate changes on cash and cash equivalents | 0 |  | 0 |  | 0 |
|  |  |  |  |  | Cash and cash equivalents at end of year | 31 |  | 614 |  | 383 |
Five-year schedule of maturities of subordinated and debenture loans
| Subordinated loans | Debenture loans
in EUR million | 2024 | 2023 | 2024 | 2023
Less than 1 year |  |  |  | 1,010 |  | 1,474 |
1 to 2 years |  |  |  | 8,053 |  | 3,250 |
2 to 3 years |  |  |  | 7,401 |  | 7,616 |
3 to 4 years |  |  |  | 7,523 |  | 7,049 |
4 to 5 years |  |  |  | 6,220 |  | 7,306 |
Longer than 5 years | 10,035 |  | 9,317 |  | 19,544 |  | 15,875 |
Maturity not applicable | 8,487 |  | 7,014 |  |  |
| 18,522 |  | 16,330 |  | 49,751 |  | 42,569 |
As at 31 December 2024 ING Groep N.V. has issued USD 8,750 million (2023: USD 7,750 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 982 million (2023: 864 million) ordinary shares. Reference is made to the ING Group Consolidated financial statements, Note 18 'Subordinated loans' and Note 19 'Equity'. The amount of debentures held by Group companies as at 31 December 2024 is EUR 10 million (2023: nil).

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