Tarik El Mejjad's questions to ING Groep NV (ING) leadership • Q4 2024
Question
Tarik El Mejjad of Bank of America asked for details on the onshore Russian business that was sold and inquired about the status of deposit growth campaigns and their impact on the 2025 NII guidance.
Answer
Executive Steven van Rijswijk described the onshore Russian unit as primarily an operational entity for local payments and deposits, separate from the larger international loan book. He explained that deposit campaigns are opportunistic, citing examples in Germany and Belgium, and are pursued when they offer a positive net present value with a 2-3 year payback period.