ING Groep N.V. provides various banking products and services in the Netherlands, Belgium, Germany, rest of Europe, and internationally. The company operates through five segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking. It accepts current and savings accounts; and time deposits. The company also offers business lending products; SME loans; consumer lending products, such as residential mortgage loans and other consumer lending loans; and mortgages. In addition, it provides working capital solutions; debt and equity market solutions; various loans; payments; and cash management, trade and corporate finance, and treasury services, as well as savings, investment, insurance, and digital banking services. The company serves individual customers, corporate clients, and financial institutions. ING Groep N.V. was founded in 1762 and is headquartered in Amsterdam, the Netherlands.
TISCO Securities has raised its fair value for TMBThanachart Bank, or TTB, to 3.30 baht and maintained a buy rating, after lifting its 2026 to 2028 profit forecasts by 7 to 11 percent on strong second-quarter 2026 results. It also expects the dividend payout ratio to rise to 85 percent this year after the share buyback program ends. TISCO projects TTB will pay a dividend per share of 0.20 baht for three consecutive years, implying a dividend yield of about 7 percent, the highest among banks under TISCO coverage. TTB shares rebounded 2.86 percent to 2.88 baht after ING sold a big-lot stake at 2.64 baht, a 9 percent discount.
ING sells TTB shares in block trade worth 18.4 billion baht, no impact on business
ING Bank sold 6.99 billion TTB shares worth 18.4 billion baht through 77 block trades at an average price of 2.64 baht to institutional investors, reducing ING's stake from 19.5% to 11.6% of shares excluding treasury stock. TTB confirmed that the reduction in ING's shareholding does not affect the bank's management structure, operations, or core strategy, since ING is only a board member, and the sale increases free float, which is positive for TTB share trading liquidity in the long term. Chief Executive Officer Piti Tantakasem said TTB remains committed to maintaining an appropriate and sustainable dividend payout ratio while proceeding with a share buyback program under a total budget of 35 billion baht over four years. To date, the bank has bought back 21 billion baht worth of shares, leaving 14 billion baht remaining. President Thakorn Piyapan disclosed that fee income in the first seven months grew 12 to 13 percent, with mutual fund income up nearly 20 percent and card spending up 10 percent, compared with market growth of only 1 percent. This gives confidence that return on equity in 2026 will meet the plan of no less than 9 percent, a level already achieved in the first half. The bank aims to increase the share of revenue from wealth customers from the current 14 percent to 30 percent by 2028, launching the ttb superior service for mass affluent customers with combined financial products of at least 1 million baht. It targets growing this customer base to 160,000 to 180,000 accounts and assets under management in this segment to 360 billion baht by 2028, lifting retail customer assets under management to 1.3 trillion baht from the current 1.1 trillion baht.
TTB falls 3.45% after ING sells 18 billion baht block trade
Shares of TMBThanachart Bank, or TTB, closed down 10 satang, or 3.45%, at 2.80 baht after ING Bank, its second-largest shareholder, sold a block of shares worth 18.47 billion baht at an average price of 2.64 baht per share. Analysts at Krungsri Securities view the deal as slightly negative for short-term sentiment, but stress that TTB's business plan has not changed with its shareholder base. They maintain a buy rating with a 2027 target price of 3.50 baht, expecting profit growth of 3% in 2026 and 1% in 2027, and a higher dividend payout ratio of 75% of net profit, implying a dividend yield of around 6% per year. Phillip Securities agrees that the deal does not affect management or earnings, because ING has been signalling a reduction in regional investment for some time. The broker keeps its 2026 profit forecast at 21.5 billion baht, up 4.1%, with a base-case price of 3 baht and a recommendation to gradually accumulate, though short-term investors may want to wait out the initial shock. Tisco Securities notes that the market had partly anticipated this since June 2026, when ING sold back 3.3 billion shares at 2.26 baht. If the new deal is completed, ING's stake could fall to around 12%. Although ING holds two board seats, its role in operations is limited, so what changes is the shareholder structure, not the profit engine. Looking at the price chart, TTB rallied from around 1.80 to 1.90 baht through the 2.34 baht level and then accelerated to a peak around 3.10 to 3.15 baht. The drop to close at 2.80 baht is therefore a sharp consolidation after a strong run. First support is at 2.74 to 2.70 baht, matching yesterday's low. The next support is 2.64 baht, the bottom of the block trade price range. Resistance is at 2.90 baht, followed by 3.00 and 3.15 baht. If the stock holds above 2.70 baht, the broader uptrend remains intact, but a break below 2.64 baht could prompt the market to demand a deeper discount. Another attraction is the potential dividend of about 0.20 baht per share. If the price falls to 2.70 baht, the yield could be around 7.4%. Meanwhile, the bank still has about 14 billion baht remaining in its share buyback programme. Although the bank cannot use that money to buy shares from ING alone, converting it into shareholder returns could become the next piece of good news.
TTB confirms ING stake reduction will not affect business
TMBThanachart Bank, or TTB, has confirmed that ING Bank's reduction of its shareholding from 19.5% to 11.6% through a private placement worth approximately 475 million euros will not affect the bank's operations or core strategy. Chief Executive Officer Piti Tantakasem said the transaction is a direct portfolio management move by the shareholder, which TTB could not have known about in advance or been involved in deciding, and that the off-market sale helps reduce selling pressure in the secondary market while increasing free float and liquidity over the long term. TTB is continuing its share buyback programme under a total budget of 35 billion baht over four years, with 21 billion baht already repurchased and 14 billion baht remaining, and will consider the format of the next buyback to suit capital market conditions for the greatest benefit to shareholders.
TTB falls 3% after ING sells big-lot stake below market; broker recommends sell
Shares of TMBThanachart Bank, or TTB, dropped 3.45% to 2.80 baht after ING Group offered a big-lot stake worth about 500 million US dollars, or roughly 6.1 billion shares, equal to 6.3% of total shares, at 2.64 to 2.70 baht per share, a discount of about 7% to 9% from the previous close. After the transaction, ING will hold 11 billion TTB shares, or 11.2% of total shares, subject to a 90-day lock-up. Analysts at Bualuang Securities assess that the big-lot sale below the current price will be a negative factor pressuring the share price, and expect TTB's 2027 net profit to fall 10% because of reduced tax benefits, while maintaining a sell recommendation because TTB is more expensive than the overall commercial banking sector, reflected in a 2027 price-to-book ratio relative to return on equity of 0.145 times, above the sector average of 0.118 times.
ING sells 6.9 billion TTB shares in block trade at 2.64 baht
Asia Plus Securities reported that ING sold TTB shares through an overnight block trade at 2.64 baht per share, totaling 6.9 billion shares, worth about 550 million US dollars, or around 18 billion baht. The transaction was executed through BofA and JPM, and the sale price represented a discount of about 6.9% to 9.0% from the previous closing price. Before the sale, ING held about 17 billion TTB shares, and the remaining shares will be subject to a 90-day lockup. The research team views that the share price may face short-term pressure from negative sentiment, but fundamentals are unchanged, with a fair value of 3.20 baht. They noted that the block trade price is equivalent to the estimated book value per share at the end of 2026 of 2.64 baht. If the share price pulls back near the block trade price range, it would offer a dividend yield of almost 6% per year, presenting a trading opportunity before the interim dividend announcement.
ING announced a reduction of its stake in TMBThanachart Bank through a private placement of shares with institutional investors. Upon settlement, the transaction is expected to reduce ING's stake in TTB from 19.5% to 11.6%, excluding shares held in treasury by TTB. Gross proceeds to ING from the transaction amount to approximately €475 million based on current exchange rates. The transaction is expected to have a small positive impact on ING's profit and loss account and CET1 ratio. Settlement of the transaction is expected on 21 August 2026.
ING repurchases 975,000 shares in latest buyback week
ING announced that as part of its €1.0 billion share buyback programme announced on 30 April 2026, it repurchased 975,000 shares during the week of 10 August up to and including 14 August 2026. The shares were repurchased at an average price of €30.80 for a total amount of €30,026,900.00. To date, the total number of shares repurchased under this programme is 20,740,193 at an average price of €27.21 for a total consideration of €564,312,289.83, representing approximately 56.43% of the maximum total value of the programme.
Visa Agentic Ready Program Moves Issuer Readiness to Production
Visa's Agentic Ready certification program is shifting the focus of agentic commerce from theory to production by standardizing how banks handle agent-initiated transactions. The July 2, 2026 live agentic payment in Germany, executed by Worldline, ING, and Visa, proved that existing payment rails are not the bottleneck, with Paymentology CTO Tim Joslyn estimating 99% of issuer processing systems could technically process an agentic payment. Visa has rolled out Agentic Ready across Europe, Asia Pacific, Latin America, Canada, and CEMEA, with over 85 partners in Asia Pacific and Latin America, major Canadian banks including BMO, CIBC, RBC, Scotiabank, and TD, and more than 30 CEMEA partners such as Emirates NBD, Mashreq, Qatar National Bank, and Discovery Bank. In contrast, Mastercard is pursuing a sandbox approach with its Proto initiative in the UK, while the US market has seen Visa deploy Intelligent Commerce through broad partnerships and live transactions, bypassing formal certification. Despite technical readiness, only 14% of consumers trust AI to execute purchases without verification, and 42% refuse to trust AI for transactions exceeding $25, according to the Product.ai Trust in AI Commerce Report from April 2026. Visa forecasts millions of consumers will use AI agents for purchases by the 2026 holiday season, with success depending on issuer-layer reliability and consumer trust.
ING to redeem two SEC registered senior note series
ING announced it will redeem two series of outstanding SEC registered securities on their contractual call date of 11 September 2026. The securities are the USD 500 million Callable Floating Rate Senior Notes due 2027 and the USD 1,250 million 6.083% Callable Fixed-to-Floating Rate Senior Notes due 2027. The notes will be redeemed in full at their principal amount, with accrued and unpaid interest paid to holders of record as of 10 September 2026. The paying agent is The Bank of New York Mellon, London Branch.
ING repurchases 740,000 shares in latest week of buyback programme
ING has repurchased 740,000 shares during the week ending 31 July 2026 as part of its €1.0 billion share buyback programme announced on 30 April 2026. The shares were bought at an average price of €29.58, for a total consideration of €21,891,581.00. To date, the programme has repurchased 17,765,193 shares at an average price of €26.65, amounting to €473,449,284.83, which represents approximately 47.34% of the maximum total value.
ING Groep Reports 17% ROTE in Q2 2026, Upgrades 2026 and 2027 Outlooks
ING Groep NV posted a return on tangible equity of 17% in the second quarter of 2026, driven by a 10% year-on-year increase in total income and an 8% quarter-on-quarter rise. Commercial net interest income grew by 114 million euros from the prior quarter and was 10.7% higher year-on-year, while fee income climbed 14% year-on-year, with retail banking fees up 16% and wholesale banking fees up 11%. Net core lending expanded by 15.2 billion euros, led by 12.1 billion euros from retail banking, and net core deposits rose by 15.9 billion euros, fueled by a 16.7 billion euro inflow in retail banking. Risk costs remained low at 279 million euros, or 15 basis points of average customer lending, and the CET1 ratio improved to 13.1%, generating 65 basis points in the quarter. The bank upgraded its 2026 outlook, now expecting commercial net interest income between 16.8 billion and 17 billion euros, total income above 24.5 billion euros, and a return on tangible equity above 15%, while its 2027 outlook was raised to total income above 26 billion euros and a return on tangible equity above 16%.
ING repurchases 865,193 shares in latest week of buyback programme
ING announced that during the week of 20 July up to and including 24 July 2026, it repurchased 865,193 shares as part of its €1.0 billion share buyback programme launched on 30 April 2026. The shares were bought at an average price of €28.83 for a total amount of €24,945,169.33. To date, the programme has repurchased 17,025,193 shares at an average price of €26.52, representing approximately 45.16% of the maximum total value.
German 10-Year Bond Yield Surges to 3.21%, Highest in 15 Years
The yield on Germany's 10-year government bond surged to 3.21%, the highest level since 2011, after investors increased expectations that the European Central Bank may raise interest rates twice more by the end of this year amid rising energy prices and accelerating inflation concerns. Financial markets are now pricing in the possibility that the ECB could hike rates by 0.25% twice before year-end. Although the ECB is likely to keep the deposit rate at 2.25% at its meeting this Thursday to assess the impact of the conflict between the United States and Iran, strategists at ING Groep NV noted that markets have not fully ruled out the possibility of a larger-than-expected rate increase. Tensions in the Middle East and European natural gas prices rising faster than oil prices could keep hawkish ECB members influential. Meanwhile, Brent crude oil is approaching $100 per barrel, and European natural gas prices closed this week at their highest since 2023.
Blackstone finalizes A$4.3 billion loan for AirTrunk's Sydney data center
Blackstone is finalizing a group of banks to underwrite a A$4.3 billion construction loan for AirTrunk's new SYD3 hyperscale data center in Australia. The five-year financing is expected to include Credit Agricole, DBS Group Holdings, Deutsche Bank, HSBC Holdings, ING Bank, Mitsubishi UFJ Financial Group, Morgan Stanley and United Overseas Bank, with additional lenders possibly joining. The loan is part of a broader surge in AI infrastructure borrowing, with at least $334.5 billion of bonds and loans issued so far this year compared with $185.5 billion during all of 2025, according to Bloomberg data. AirTrunk is also completing an approximately $2.3 billion loan for a data center project in Johor, Malaysia, while Australian-listed NextDC has increased its senior debt facilities to A$2.3 billion from A$1.8 billion.
ING repurchases 1.2 million shares in latest week of buyback programme
ING announced that it repurchased 1,200,000 shares during the week of 13 July to 17 July 2026 as part of its €1.0 billion share buyback programme. The shares were bought at an average price of €28.54 for a total amount of €34,251,765.00. To date, the programme has repurchased 16,160,000 shares at an average price of €26.40, representing approximately 42.66% of the maximum total value.
Venture Global subsidiary closes $1.5 billion term loan facility
Venture Global announced that its subsidiary, Venture Global Shipping Holdings, LLC, closed a senior secured term loan facility totaling up to $1.5 billion. The financing matures on June 26, 2032, with Deutsche Bank and ING serving as coordinating lead arrangers, and ING also acting as facility agent and security trustee. Proceeds will be used for general corporate purposes, including reimbursing Venture Global LNG Inc. for the acquisition of nine LNG carriers, funding reserve accounts, and covering transaction fees.
ING repurchases 950,000 shares in latest week of buyback programme
ING has repurchased 950,000 shares during the week of 29 June to 3 July 2026 as part of its €1.0 billion share buyback programme announced on 30 April 2026. The shares were bought at an average price of €27.65 for a total amount of €26,267,240.00. To date, the programme has repurchased 14,010,000 shares at an average price of €26.08, representing approximately 36.54% of the maximum total value.
ING to buy 40% stake in Spain's Singular Bank from Warburg Pincus
ING announced a strategic investment to acquire a stake of approximately 40% in Spanish wealth manager Singular Bank from private equity firm Warburg Pincus, which currently holds 93% of the shares. Singular Bank is an independent Spanish private bank with around €19 billion of client invested assets, serving high-net-worth individuals. Following the transaction, ING’s non-controlling stake is expected to be 40%, depending on a planned additional investment by Singular Bank management. The deal is expected to have a minimal impact on ING’s CET1 ratio and is anticipated to close in the first quarter of 2027.
Touax Container renews investment capacity with $115 million financing
Touax has successfully renewed the asset-backed facilities of its Containers division for $115 million on 30 June 2026. The transaction refinances the asset portfolio of Touax Container Asset Financing Ltd over four years and finances new investment, including equipment purchases for leasing and trading activity. The documentation also provides for an additional $20 million accordion option to support growth. Financing was granted by ING Bank, ABN AMRO Bank, and HELABA Landesbank Hessen-Thüringen. Touax expects containerised traffic to increase by 2% to 4% in 2026, with a recovery in leasing demand in the second half of the year.
ING launches subscription banking in the Netherlands to challenge neobanks
ING Groep has introduced a new tiered subscription-based banking model in the Netherlands, with plans to roll out similar packages across Europe by mid-2027. The move responds to rising competition from digital-only neobanks such as Revolut, N26 and Monzo, and aims to deepen customer engagement and cross-selling by bundling payments, insurance and even non-banking services into tiered plans. The launch is part of a broader strategy to increase fee-based income and digital-centric retail banking, and its success in the Netherlands will serve as a test case for the wider European rollout. ING's stock currently trades around €27.205, up 11.1% year to date, though it has declined 2.7% over the past week.
European Banks Still Undervalued Despite 2025 Rally, Three Stand Out
European banks remain attractively valued compared with many U.S. peers despite a strong 2025 rally. Banco Bilbao Vizcaya Argentaria reported a return on tangible equity of 21.7% and a Common Equity Tier 1 ratio above 12% in the first quarter of 2026, yet trades at around 10.3 times forward earnings with a 4.63% dividend yield. Banco Santander has surged nearly 65% over the last 12 months, retains a 15% return on tangible equity with a 14% Common Equity Tier 1 ratio, and trades at just 11 times earnings with a 1.57% dividend and an approximately 17% dividend payout ratio. ING Group offers a 4.7% yield and trades at about 11.4 times forward earnings, but its 16% Common Equity Tier 1 ratio and 57% dividend payout ratio present a more mixed risk-reward setup.
ING appoints Bob Bakker as head of Investor Relations
ING has appointed Bob Bakker as its new head of Investor Relations, succeeding Sjoerd Miltenburg who now leads Wholesale Banking in the Netherlands. Bakker has been part of ING's Investor Relations team since 2019, most recently as Senior Investor Relations Officer, and previously held senior finance roles including head of Finance Business Partnering at ING Bank Romania. He will report directly to chief financial officer Ida Lerner, who praised his deep investor relations expertise and strong track record in engaging with investors and advising the Executive Board.