Farquhar Murray's questions to ING Groep NV (ING) leadership • Q1 2025
Question
In a follow-up, Farquhar Murray of Autonomous asked if the strong Q1 momentum in the Dutch mortgage market continued into Q2, how new business pricing compares to the back book, and for clarification on a commercial NII reallocation.
Answer
CEO Steven van Rijswijk confirmed that strong momentum in the Dutch mortgage market continued into Q2, with slightly higher margins on new production. CFO Tanate Phutrakul advised that the full-year 2024 reclassification of EUR 160 million is a good baseline to use for 2025 modeling.