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    Namita Samtani • Barclays

    Namita Samtani's questions to ING Groep NV (ING) leadership

    Namita Samtani's questions to ING Groep NV (ING) leadership • Q2 2025

    Question

    Namita Samtani from Barclays Investment Bank questioned the 2027 liability margin guidance of 100-110 bps, suggesting it could be a floor given tailwinds from the replicating portfolio. She also asked for the rationale behind CFO Tanate Phutrakul's decision to step down, questioning why it is a 'logical moment'.

    Answer

    CEO Steven van Rijswijk expressed his gratitude for the CFO's seven years on the board, stating it was a good period and a logical time for retirement, with a rigorous succession process underway. CFO Tanate Phutrakul explained that the liability margin guidance reflects a balance between market competition, volume growth ambitions, and margin management, noting the historical margin has been in that range over the long cycle.

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    Namita Samtani's questions to ING Groep NV (ING) leadership • Q1 2025

    Question

    Namita Samtani from Barclays questioned if there was a correlation between slower mobile customer growth and deposit rate cuts, and if the customer growth target would be sacrificed to protect NII. She also asked for confirmation on a specific German rate cut's inclusion in guidance.

    Answer

    CEO Steven van Rijswijk stated there is no correlation, explaining that Q1 is a seasonally slow period for customer acquisition and the bank remains on track for its 1 million target. CFO Tanate Phutrakul confirmed the 25 bps rate cut in Germany is included in the EUR 1 billion guidance figure.

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