ING Germany Reports Lower Profits Despite Record Customer Growth

The bank's 2024 profit fell 14% from 2023 due to increased loan loss provisions and lower interest income, but it achieved its second-highest earnings ever.

ING Germany's pre-tax profit for 2024 was €2.12 billion, with a net profit of €1.43 billion, both 14% below 2023 records.
The bank set aside €222 million for potential loan defaults, over six times higher than the previous year, citing economic challenges.
Lower interest income, driven by the European Central Bank's rate cuts, contributed to the profit decline.
Customer growth surged by 571,000, bringing the total to 9.9 million, the highest increase in over 15 years, close to the 10 million goal set for 2025.
New CEO Lars Stoy plans to expand the corporate banking segment, aiming to make it a key pillar alongside retail banking.