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Taxation (Tables) | 12 Months Ended
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Dec. 31, 2024
Taxation [abstract] |
Summary of changes in deferred tax |
Changes in deferred tax
in EUR million 2024 | Net liability (-) Net asset (+) opening balance | Change through equity | Change through net result | Exchange rate differences | Changes in the composition of the group and other changes | Net liability (-) Net asset (+) ending balance
Financial assets at FVOCI | 64 |  | 70 |  | -8 |  |  |  |  |  | 126 |
Financial assets and liabilities at FVPL | -1,461 |  |  | 441 |  | 12 |  |  |  | -1,008 |
Depreciation | -13 |  |  |  | -9 |  |  |  |  |  | -22 |
Cash flow hedges | 502 |  | -138 |  |  |  | -1 |  |  |  | 363 |
Pension and post-employment benefits | -33 |  | 6 |  | 1 |  | -5 |  | -1 |  | -32 |
Other provisions | 48 |  |  |  | 12 |  | 1 |  | 1 |  | 62 |
Loans and advances | 475 |  |  |  | -49 |  |  |  |  |  | 427 |
Unused tax losses carried forward | 209 |  |  |  | -128 |  | 3 |  |  |  | 85 |
Other | -154 |  | -41 |  | -9 |  | -5 |  | 1 |  | -208 |
Total | -362 |  | -103 |  | 251 |  | 6 |  |  |  | -208 |
Presented in the statement of financial position as: |  |  |  |  |  |
– Deferred tax liabilities | -1,447 |  |  |  |  |  | -1,209 |
– Deferred tax assets | 1,085 |  |  |  |  |  | 1,001 |
| -362 |  |  |  |  |  | -208 |
Changes in deferred tax
in EUR million 2023 | Net liability (-) Net asset (+) opening balance | Change through equity | Change through net result | Exchange rate differences | Changes in the composition of the group and other changes | Net liability (-) Net asset (+) ending balance
Financial assets at FVOCI | 81 |  | -10 |  | -3 |  | -4 |  |  |  | 64 |
Financial assets and liabilities at FVPL | -2,739 |  |  | 1,264 |  | 13 |  |  |  | -1,461 |
Depreciation | -13 |  |  |  | -6 |  | 3 |  | 4 |  | -13 |
Cash flow hedges | 752 |  | -251 |  |  |  | 1 |  |  |  | 502 |
Pension and post-employment benefits | -54 |  | 31 |  | -7 |  | -4 |  |  |  | -33 |
Other provisions | 59 |  |  |  | -12 |  | -3 |  | 4 |  | 48 |
Loans and advances | 612 |  | 8 |  | -140 |  | -6 |  | 2 |  | 475 |
Unused tax losses carried forward | 327 |  |  |  | -128 |  | 11 |  | -1 |  | 209 |
Other | -251 |  | 13 |  | 90 |  | -2 |  | -4 |  | -154 |
Total | -1,227 |  | -209 |  | 1,059 |  | 10 |  | 5 |  | -362 |
Presented in the statement of financial position as: |  |  |  |  |  |
– deferred tax liabilities | -2,652 |  |  |  |  |  | -1,447 |
– deferred tax assets | 1,425 |  |  |  |  |  | 1,085 |
| -1,227 |  |  |  |  |  | -362 |
Summary of deferred tax in connection with unused tax losses carried forward |
Deferred tax in connection with unused tax losses carried forward
in EUR million | 2024 | 2023
Total unused tax losses carried forward | 1,345 |  | 1,870 |
Unused tax losses carried forward not recognised as a deferred tax asset | 951 |  | 815 |
Unused tax losses carried forward recognised as a deferred tax asset | 394 |  | 1,055 |
Average tax rate | 21.6 | % | 19.9 | %
Deferred tax asset | 85 |  | 209 |
Summary of total unused tax losses carried forward analysed by expiry terms |
Total unused tax losses carried forward analysed by expiry terms
| No deferred tax asset recognised | Deferred tax asset recognised
in EUR million | 2024 | 2023 | 2024 | 2023
Within 1 year |  |  |  |  |  |  |  |
More than 1 year but less than 5 years | 135 |  | 126 |  | 14 |  | 633 |
More than 5 years but less than 10 years | 9 |  | 9 |  | 66 |  | 2 |
More than 10 years but less than 20 years |  |  |  |  |  |  |  |
Unlimited | 808 |  | 681 |  | 313 |  | 421 |
| 951 |  | 815 |  | 394 |  | 1,055 |
Breakdown of certain net deferred tax asset positions by jurisdiction |
Breakdown of certain net deferred tax asset positions by jurisdiction
in EUR million | 2024 | 2023
Poland |  | 244 |
Slovakia |  | 1 |
China | 9 |  | 2 |
Australia | 1 |  | 1 |
Hong Kong | 5 |  | 8 |
United States of America | 1 |  |
Türkiye | 40 |  | 41 |
Taiwan | 10 |  | 11 |
| 66 |  | 308 |
Summary of taxation by type |
Taxation by type
| Netherlands | Rest of the world | Total
in EUR million | 2024 | 2023 | 2022 | 2024 | 2023 | 2022 | 2024 | 2023 | 2022
Current taxation | 454 |  | 601 |  | 498 |  | 1,977 |  | 2,121 |  | 1,510 |  | 2,432 |  | 2,722 |  | 2,008 |
Deferred taxation | 65 |  | -141 |  | 901 |  | -315 |  | -918 |  | 2,221 |  | -251 |  | -1,059 |  | 3,122 |
| 519 |  | 460 |  | 1,399 |  | 1,662 |  | 1,202 |  | 3,731 |  | 2,181 |  | 1,662 |  | 5,130 |
Reconciliation of weighted average statutory income tax rate to effective income tax rate |
Reconciliation of the weighted average statutory income tax rate to ING Group’s effective income tax rate
in EUR million | 2024 | 2023 | 2022
Result before tax from continuing operations | 7,772 |  | 6,037 |  | 17,358 |
Weighted average statutory tax rate | 24.0 | % | 22.7 | % | 27.5 | %
Weighted average statutory tax amount | 1,864 |  | 1,371 |  | 4,770 |
Permanent differences affecting current tax |  |  |
Participation exemption | -87 |  | -43 |  | -64 |
Other income not subject to tax | -64 |  | -68 |  | -40 |
Expenses not deductible for tax purposes | 424 |  | 398 |  | 403 |
Current tax from previously unrecognised amounts | -1 |  | 1 |  | 10 |
State and local taxes | 77 |  | 99 |  | 68 |
Adjustments to prior periods | -34 |  | -72 |  | -29 |
Differences affecting deferred tax |  |  |
Impact on deferred tax from change in tax rates | -1 |  | 2 |  | 5 |
Deferred tax benefit from previously unrecognised amounts | -1 |  | -30 |  | -3 |
Write-off/reversal of deferred tax assets | 4 |  | 4 |  | 10 |
Effective tax amount | 2,181 |  | 1,662 |  | 5,130 |
Effective tax rate | 28.1 | % | 27.5 | % | 29.6 | %
Summary of income tax related to other comprehensive income |
Income tax related to components of other comprehensive income
in EUR million | 2024 | 2023 | 2022
Unrealised revaluations of financial assets at fair value through other comprehensive income and other revaluations | 99 |  | -7 |  | 142 |
Realised gains/losses transferred to the statement of profit or loss (reclassifications from equity to profit or loss) | -29 |  | -3 |  | 8 |
Changes in cash flow hedge reserve | -138 |  | -251 |  | 875 |
Remeasurement of the net defined benefit asset/liability | 6 |  | 31 |  | 6 |
Changes in fair value of own credit risk of financial liabilities at fair value through profit or loss | 5 |  | 2 |  | 19 |
Exchange rate differences and other | -46 |  | 19 |  | -141 |
Total income tax related to components of other comprehensive income | -103 |  | -209 |  | 910 |

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