Jonathan Matthew Clark's questions to ING Groep NV (ING) leadership • Q1 2025
Question
In a follow-up question, Jonathan Matthew Clark of Mediobanca asked if the rise in commercial NII in Q1, combined with flat guidance for liability margins, indicates that commercial NII has now troughed.
Answer
CFO Tanate Phutrakul responded that while liability NII is stabilizing, the overall commercial NII outlook depends on several moving parts, including forward curves and volume growth. He characterized the current situation as a stabilization from which the bank expects to grow.