Document and Entity Information
Document and Entity Information | 6 Months Ended |
Jun. 30, 2019 | |
Document - Document and Entity Information [Abstract] | |
Document Type | 6-K |
Amendment Flag | false |
Document Period End Date | Jun. 30, 2019 |
Document Fiscal Year Focus | 2019 |
Document Fiscal Period Focus | H1 |
Entity Registrant Name | ING GROEP NV |
Entity Central Index Key | 0001039765 |
Current Fiscal Year End Date | --12-31 |
Condensed consolidated statemen
Condensed consolidated statement of financial position - EUR (€) € in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Assets | ||
Cash and balances with central banks | € 52,171 | € 49,987 |
Loans and advances to banks | 34,584 | 30,422 |
Financial assets at fair value through profit or loss | 118,928 | 120,486 |
Financial assets at fair value through other comprehensive income | 31,294 | 31,223 |
Securities at amortised cost | 45,970 | 47,276 |
Loans and advances to customers | 607,081 | 589,653 |
Investments in associates and joint ventures | 1,317 | 1,203 |
Property and equipment | 2,825 | 1,659 |
Intangible assets | 1,917 | 1,839 |
Current tax assets | 392 | 202 |
Deferred tax assets | 950 | 958 |
Other assets | 11,363 | 8,433 |
Assets and liabilities held for sale | 1,154 | 1,262 |
Total assets | 909,945 | 884,603 |
Liabilities | ||
Deposits from banks | 38,095 | 37,330 |
Customer deposits | 571,001 | 555,729 |
Financial liabilities at fair value through profit or loss | 99,448 | 92,693 |
Current tax liabilities | 487 | 822 |
Deferred tax liabilities | 121 | 180 |
Provisions | 853 | 1,011 |
Other liabilities | 16,084 | 13,510 |
Debt securities in issue | 118,929 | 119,751 |
Subordinated loans | 14,205 | 13,724 |
Total liabilities | 859,222 | 834,751 |
Equity | ||
Share capital and share premium | 17,116 | 17,088 |
Other reserves | 4,218 | 3,621 |
Retained earnings | 28,528 | 28,339 |
Shareholders' equity (parent) | 49,862 | 49,049 |
Non-controlling interests | 862 | 803 |
Total equity | 50,723 | 49,851 |
Total liabilities and equity | € 909,945 | € 884,603 |
Condensed consolidated statem_2
Condensed consolidated statement of profit or loss - EUR (€) € in Millions | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | |||
Continuing operations | ||||
Interest income using effective interest rate method | € 12,799 | € 12,399 | ||
Other interest income | 1,434 | 1,073 | [1] | |
Total Interest income | 14,233 | 13,472 | ||
Interest expense using effective interest rate | (5,880) | (5,435) | ||
Other interest expense | (1,457) | (1,177) | [1] | |
Total interest expense | (7,337) | (6,612) | ||
Net interest income 11 | 6,896 | 6,860 | ||
Net fee and commission income 12 | 1,386 | 1,377 | ||
Valuation results and net trading income | (489) | 393 | ||
Investment income | 58 | 102 | ||
Other income 13 | [2] | 296 | 151 | |
Total income | 8,148 | 8,883 | ||
Addition to loan loss provisions | 416 | 200 | ||
Staff expenses 14 | 2,811 | 2,723 | ||
Other operating expenses 15 | 2,427 | 2,309 | ||
Total expenses | 5,654 | 5,232 | ||
Result before tax from continuing operations | 2,493 | 3,651 | ||
Taxation | 740 | 995 | ||
Net result from continuing operations | 1,754 | 2,656 | ||
Net result (before non-controlling interests) | 1,754 | 2,656 | ||
Net result attributable to Non-controlling interests | 47 | 51 | ||
Net result attributable to Equityholders of the parent | 1,707 | 2,605 | ||
Net result attributable to Non-controlling interests | ||||
from continuing operations | 47 | 51 | ||
Net result attributable to Non-controlling interests | 47 | 51 | ||
Net result attributable to Equityholders of the parent | ||||
from continuing operations | 1,707 | 2,605 | ||
Net result attributable to Equityholders of the parent | € 1,707 | € 2,605 | ||
Earnings per ordinary share 16 | ||||
Basic earnings per ordinary share | € 0.44 | € 0.67 | ||
Diluted earnings per ordinary share | 0.44 | 0.67 | ||
Earnings per ordinary share from continuing operations 16 | ||||
Basic earnings per ordinary share from continuing operations | 0.44 | 0.67 | ||
Diluted earnings per ordinary share from continuing operations | 0.44 | 0.67 | ||
Dividend per ordinary share 17 | € 0.24 | € 0.24 | ||
[1] | Includes a reclassification of EUR 378 million in the six month period to 30 June 2018, from Other interest income to Other interest expense, to align with the current gross presentation of Other interest income and Other interest expense that was previously netted. | |||
[2] | Other income includes Result from associates and joint ventures, Net operating lease income, Net result on derecognition of financial assets at amortised cost, and Other. |
Condensed consolidated statem_3
Condensed consolidated statement of profit or loss (Parenthetical) € in Millions | 6 Months Ended |
Jun. 30, 2018EUR (€) | |
Profit or loss [abstract] | |
Relcasification adjustment from other interest income to other interest expense | € 378 |
Condensed consolidated statem_4
Condensed consolidated statement of comprehensive income - EUR (€) € in Millions | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Condensed consolidated statement of comprehensive income [abstract] | ||
Net result (before non-controlling interests) | € 1,754 | € 2,656 |
Items that will not be reclassified to the statement of profit or loss: | ||
Realised and unrealised revaluations property in own use | 36 | (2) |
Remeasurement of the net defined benefit asset/liability | (23) | 6 |
Net change in fair value of equity instruments at fair value through other comprehensive income | 201 | (161) |
Change in fair value of own credit risk of financial liabilities at fair value through profit or loss | (91) | 75 |
Items that may subsequently be reclassified to the statement of profit or loss: | ||
Net change in fair value of debt instruments at fair value through other comprehensive income | 1 | (51) |
Realised gains/losses on debt instruments at fair value through other comprehensive income reclassified to the statement of profit or loss | (36) | (56) |
Changes in cash flow hedge reserve | 861 | 164 |
Exchange rate differences and other | (116) | (304) |
Share of other comprehensive income of associates and joint ventures and other income | (2) | 4 |
Total comprehensive income | 2,585 | 2,331 |
Comprehensive income attributable to: | ||
Non-controlling interests | 86 | 29 |
Equityholders of the parent | 2,500 | 2,301 |
Total comprehensive income | € 2,585 | € 2,331 |
Condensed consolidated statem_5
Condensed consolidated statement of changes in equity - EUR (€) € in Millions | Total | Share capital and share premium [Member] | Other reserves [Member] | Retained earnings [member] | Shareholders' equity (parent) [Member] | Non-controlling interests [Member] |
Balance (Before accounting adjustments [member]) at Dec. 31, 2017 | € 49,144 | € 17,045 | € 4,362 | € 27,022 | € 48,429 | € 715 |
Balance (Effects of changes in accounting policy [member]) at Dec. 31, 2017 | (1,008) | (604) | (390) | (994) | (14) | |
Balance at Dec. 31, 2017 | 48,136 | 17,045 | 3,759 | 26,632 | 47,435 | 700 |
Net change in fair value of equity instruments at fair value through other comprehensive income | (161) | (165) | 4 | (161) | ||
Net change in fair value of debt instruments at fair value through other comprehensive income | (51) | (52) | (52) | 1 | ||
Realised gains/losses on debt instruments at fair value through other comprehensive income reclassified to the statement of profit or loss | (56) | (55) | (55) | (2) | ||
Changes in cash flow hedge reserve | 164 | 159 | 159 | 5 | ||
Realised and unrealised revaluations property in own use | (2) | (2) | (2) | |||
Remeasurement of the net defined benefit asset/liability | 6 | 6 | 6 | |||
Exchange rate differences and other | (304) | (278) | (278) | (26) | ||
Share of other comprehensive income of associates and joint ventures and other income | 4 | 95 | (91) | 4 | ||
Change in fair value of own credit risk of financial liabilities at fair value through profit or loss | 75 | 75 | 75 | |||
Total amount recognised directly in other comprehensive income net of tax | (326) | (216) | (87) | (303) | (22) | |
Net result | 2,656 | 2,605 | 2,605 | 51 | ||
Total comprehensive income | 2,331 | (216) | 2,518 | 2,301 | 29 | |
Dividends | (1,700) | (1,673) | (1,673) | (27) | ||
Changes in treasury shares | (6) | (6) | (6) | |||
Employee stock options and share plans | 36 | 43 | (7) | 36 | ||
Changes in the composition of the group and other changes | (65) | (96) | (96) | 31 | ||
Balance at Jun. 30, 2018 | 48,732 | 17,088 | 3,536 | 27,374 | 47,998 | 734 |
Balance at Dec. 31, 2018 | 49,851 | 17,088 | 3,621 | 28,339 | 49,049 | 803 |
Net change in fair value of equity instruments at fair value through other comprehensive income | 201 | (123) | 322 | 199 | 2 | |
Net change in fair value of debt instruments at fair value through other comprehensive income | 1 | 0 | 0 | 0 | ||
Realised gains/losses on debt instruments at fair value through other comprehensive income reclassified to the statement of profit or loss | (36) | (34) | (34) | (1) | ||
Changes in cash flow hedge reserve | 861 | 830 | 830 | 31 | ||
Realised and unrealised revaluations property in own use | 36 | 29 | 7 | 36 | 0 | |
Remeasurement of the net defined benefit asset/liability | (23) | (23) | (23) | |||
Exchange rate differences and other | (116) | (121) | (121) | 6 | ||
Share of other comprehensive income of associates and joint ventures and other income | (2) | 127 | (129) | (2) | ||
Change in fair value of own credit risk of financial liabilities at fair value through profit or loss | (91) | (91) | (91) | |||
Total amount recognised directly in other comprehensive income net of tax | 832 | 0 | 593 | 200 | 793 | 38 |
Net result | 1,754 | 0 | 1,707 | 1,707 | 47 | |
Total comprehensive income | 2,585 | 593 | 1,906 | 2,500 | 86 | |
Dividends | (1,741) | (1,714) | (1,714) | (27) | ||
Changes in treasury shares | 3 | 3 | 3 | |||
Employee stock options and share plans | 25 | 27 | (3) | 25 | 0 | |
Balance at Jun. 30, 2019 | € 50,723 | € 17,116 | € 4,218 | € 28,528 | € 49,862 | € 862 |
Condensed consolidated statem_6
Condensed consolidated statement of cash flows - EUR (€) € in Millions | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Cash flows from operating activities | ||
Results before tax | € 2,493 | € 3,652 |
Adjustmented for: | ||
- Depreciation and amortisation | 388 | 267 |
- Addition to loan loss provisions | 416 | 200 |
- Other | 53 | (54) |
Taxation paid | (1,583) | (834) |
Changes in: | ||
- Net change in Loans and advances to/from banks, not available/payable on demand | (3,434) | 1,009 |
- Net change in Trading assets and Trading liabilities | (1,707) | 6,138 |
- Loans and advances to customers | (17,670) | (24,078) |
- Customer deposits | 15,297 | 19,842 |
- Other | 9,502 | (9,272) |
Net cash flow from/(used in) operating activities | 3,754 | (3,130) |
Investments and advances: | ||
- Acquisition of subsidiaries, net of cash acquired | (17) | (111) |
- Associates and joint ventures | (60) | (47) |
Financial assets [Line Items} | ||
- property and equipment | (135) | (133) |
- Other investments | (184) | (162) |
Disposals and redemptions: | ||
- associates and joint ventures | 6 | 54 |
- Financial assest at fair value through other comprehensive income | 8,982 | 9,032 |
- Securities at amortised cost | 7,441 | 9,104 |
- Property and equipment | 71 | 5 |
- Loans sold | 401 | |
- other investments | 1 | 7 |
Net cash flow from/(used in) investing activities | 2,346 | 4,477 |
Cash flows from financing activities | ||
Proceeds from debt securities | 54,835 | 72,330 |
Repayments of debt securities | (57,088) | (53,923) |
Proceeds from issuance of subordinated loans | 1,089 | 1,746 |
Repayments of subordinated loans | (933) | (1,909) |
Repayments of principal portion of lease liabilities | (123) | |
Purchase/sale of treasury shares | 8 | 7 |
Dividends paid | (1,714) | (1,673) |
Net cash flow from/(used in) financing activities | (3,926) | 16,578 |
Net cash flow | 2,174 | 17,925 |
Cash and cash equivalents at beginning of year | 47,529 | 18,977 |
Effect of exchange rate changes on cash and cash equivalents | (53) | 206 |
Cash and cash equivalents at end of the period | 49,650 | 37,108 |
Securities at amortised cost [member] | ||
Financial assets [Line Items} | ||
Purchase of financial instruments | (6,395) | (9,887) |
Financial assets at FVOCI [member] | ||
Financial assets [Line Items} | ||
Purchase of financial instruments | € (7,765) | € (3,385) |
Condendsed consolidated stateme
Condendsed consolidated statement of cash flows (Parenthetical) - EUR (€) € in Millions | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | ||
Treasury bills and other eligible bills | € 94 | € 248 | |
Deposits from banks/Loans and advances to banks | (2,615) | (1,416) | |
Cash and balances with central banks | 52,171 | 38,276 | |
Cash and cash equivalents at end of year | 49,650 | 37,108 | |
Interest received | 14,784 | 13,447 | |
Interest paid | (7,575) | (7,005) | |
Interest income (expense) | 7,208 | 6,442 | |
Dividend received | [1] | 67 | 67 |
Dividend paid | € (1,714) | € (1,673) | |
[1] | Includes dividends received as recognized within Investment Income, from equity securities included in the Financial assets at fair value through profit or loss, and from Investments in associates and joint ventures. Dividend paid and received from trading positions have been included. |
Reporting entity
Reporting entity | 6 Months Ended |
Jun. 30, 2019 | |
Disclosure of reporting entity [Abstract] | |
Reporting entity | Reporting entity ING Groep N.V. is a company domiciled in Amsterdam, the Netherlands . Commercial Register of Amsterdam, number 33231073. These Condensed c onsolidated interim accounts , as at and for the six months ended 30 June 2019 , comprise ING Groep N.V. (the Parent company) and its subsidiaries, together referred to as ING Group. ING G roup is a global financial institution with a strong European base, offering a wide range of retail and wholesale banking services to customers in over 40 countries. |
Basis of preparation of the Con
Basis of preparation of the Condensed consolidated interim accounts | 6 Months Ended |
Jun. 30, 2019 | |
Disclosure of basis of preparation of consolidated interim accounts [abstract] | |
Basis of preparation of the Condensed consolidated interim accounts | Basis of preparation of the Condensed consolidated interim accounts The ING Group Condensed consolidated interim accounts have been prepared in accordance with International Accounting Standard 34 ‘Interim Financial Reporting’. The accounting principles used to prepare these Conde nsed consolidated interim accounts comply with International Financial Reporting Standards as issued by the International Accounting Standards Board (IFRS-IASB) and are consistent with those set out in the notes to the 2018 Consolidated financial statement s as included in the Annual Report on Form 20-F of ING Group except for the adoption of IFRS 16 ‘Leases’ as set out in Note 1 ‘Accounting policies’. These Condensed consolidated interim accounts should be read in conjunction with ING Group’s 2018 Consolid ated financial statements as included in the Form 20-F. International Financial Reporting Standards as issued by the IASB provide several options in accounting principles. ING Group’s accounting principles under International Financial Reporting Standard s as issued by the IASB and its decision on the options available are set out in the section ‘Principles of valuation and determination of results’ in the 2018 Annual Report on Form 20-F. IFRS-EU refers to International Financial Reporting Standards as ad opted by the European Union (‘EU’), including the decisions ING Group made with regard to the options available under IFRS as adopted by the EU. The published 2018 Consolidated annual accounts of ING Group are presented in accordance with IFRS-EU. The annu al accounts of ING Group will remain to be prepared under IFRS-EU. IFRS-EU differs from IFRS-IASB in respect of certain paragraphs in IAS 39 ‘Financial Instruments: Recognition and Measurement’ regarding hedge accounting for portfolio hedges of interest ra te risk. Under IFRS 9, the IAS 39 hedge accounting principles can be applied. Under IFRS-EU, ING Group applies fair value hedge accounting for portfolio hedges of interest rate risk (fair value macro hedges) in accordance with the EU ‘carve-out’ version o f IAS 39. Under the EU ‘IAS 39 carve-out’, hedge accounting may be applied, in respect of fair value macro hedges, to core deposits and hedge ineffectiveness is only recognised when the revised estimate of the amount of cash flows in scheduled time buckets falls below the original designated amount of that bucket and is not recognised when the revised amount of cash flows in scheduled time buckets is more than the original designated amount. Under IFRS-IASB, hedge accounting for fair value macro hedges cann ot be applied to core deposits and ineffectiveness arises whenever the revised estimate of the amount of cash flows in scheduled time buckets is either more or less than the original designated amount of that bucket. This information is prepared by revers ing the hedge accounting impacts that are applied under the EU ‘carve-out’ version of IAS 39. Financial information under IFRS-IASB accordingly does not take account of the possibility that, had ING Group applied IFRS-IASB as its primary accounting framewo rk, it might have applied alternative hedge strategies where those alternative hedge strategies could have qualified for IFRS-IASB compliant hedge accounting. These decisions could have resulted in different equity and net result amounts compared to those indicated in these Condensed consolidated interim accounts. A reconciliation between IFRS-IASB and IFRS-EU is included below. Both IFRS-EU and IFRS-IASB differ in several areas from accounting principles generally accepted in the United States of America (‘US GAAP’). Reconciliation shareholder’s equity and net result under IFRS-EU and IFRS-IASB: Reconciliation shareholders’ equity under IFRS-EU and IFRS-IASB Total Equity 30 June 2019 31 December 2018 In accordance with IFRS-EU 52,598 50,932 Adjustment of the EU IAS 39 carve-out –3,560 –2,460 Tax effect of the adjustment 823 577 Effect of adjustment after tax –2,737 –1,883 Shareholders’ equity 49,862 49,049 Non-voting equity securities Non-controlling interests 862 803 In accordance with IFRS-IASB Total Equity 50,723 49,851 Reconciliation net result under IFRS-EU and IFRS-IASB Total net result 1 January to 30 June 2019 2018 In accordance with IFRS-EU 2,556 2,654 Adjustment of the EU IAS 39 carve-out –1,093 –75 Tax effect of the adjustment 243 26 Effect of adjustment after tax –850 –50 In accordance with IFRS-IASB (attributable to the equityholders of the parent) 1,707 2,605 Non-controlling interests 47 51 In accordance with IFRS-IASB net result 1,754 2,656 In the first six months of 2019 interest rates decreased significantly, resulting in a positive hedge accounting impact related to the EU IAS 39 carve-out. The difference in net result is fully reflected in the segment Wholesale Banking. Certain amounts recorded in the Condensed consolidated interim accounts reflect estimates and assumptions made by management. Actual results may differ from the estimates made. Interim results are not necessarily indicative of full-year results. The ING Group Condensed c onsolidated interim accounts have been prepared on a going concern basis. Amounts may not add up due to rounding. |
Accounting policies
Accounting policies | 6 Months Ended |
Jun. 30, 2019 | |
Disclosure of accounting policies [abstract] | |
Accounting policies | 1 Accounting policies ING Group has consistently applied its accounting policies to all periods presented in these Condensed consolidated in terim accounts, except for changes in IFRS 16 that became effective in 2019. Major new IFRSs A number of new or amended standards and an IFRIC interpretation became applicable for the current reporting period. ING Group changed its accounting policies as a result of adopting IFRS 16. The impact of the adoption of IFRS 16 is disclosed in Note 1a ‘IFRS 16 – Impact of adoption’ and the new IFRS 16 accounting policies are disclosed in note 1b ‘IFRS 16 - Accounting policies applied from 1 January 2019’. The ot her amendments did not have a significant impact on the Group’s accounting policies. ING Group has not early adopted any standard, interpretation or amendment which has been issued, but is not yet effective . Upcoming changes in IFRS There are no upcoming changes in IFRSs that will significantly impact the accounting policies of ING Group . Changes to accounting policies in 2019 IFRS 16 ‘Leases’ IFRS 16 ‘Leases’ was issued by the IASB in January 2016 and endorsed by the EU in October 2017. IFRS 16 replaces IAS 17 ‘Leases’, IFRIC 4 ‘Determining whether an Arrangement contains a Lease’, SIC-15 ‘Operating Leases- Incentives’ and SIC-27 ‘Evaluating the Substance of Transactions Involving the Legal Form of a Lease’. ING Group has adopted IFRS 16 retrospectively from 1 January 2019, but has not restated comparatives for the 2019 reporting period, as permitted under the specific transitional provisions in the Standard. The reclassifications and the adjustments arising from the new leasing rules are therefore recogn ized in the opening statement of financial position on 1 January 2019. 1. a) IFRS 16 – Impact of adoption Transition For lessee accounting, the new Standard removes the distinction between operating and finance leases. All leases are recognized on the st atement of financial position with exemptions for short-term leases with a lease term of less than 12 months and leases of low-value assets (for example mobile phones or laptops). There is no significant impact of the adoption of IFRS 16 on ING Group’s Ne t Result, Comprehensive income and Shareholders’ equity on transition. This follows ING Group’s implementation decision where the value of the right-of-use asset is based on the value of the lease liability, adjusted for any previously recognized prepaid a nd/or accrued lease payments on that lease contract, as is permitted under the Standard. On transition to IFRS 16, ING recognised lease liabilities of EUR 1,301 million and right-of-use assets of EUR 1,279 million equal to the lease liability adjusted for any previously recognised prepaid or accrued lease payments on that lease. The weighted average incremental borrowing rate applied to lease liabilities recognised in the statement of financial position at the date of initial application is 2.47 %. The fo llowing table reconciles the future rental commitments for operating lease contracts under IAS 17 to the lease liability under IFRS 16 on transition to IFRS 16 as of 1 January 2019: 1 January 2019 Future rental commitments for operating lease contract disclosed under IAS 17 as at 31 December 2018 1,378 (Less) discounting effect using ING’s incremental borrowing rate at 1-1-2019 –108 (Less) recognition exemption for short-term leases –16 (Less) recognition exemption for low value assets –3 (Less) non-lease components of a contract –78 Add extension and termination options reasonably certain to be exercised 143 (Less) variable lease payments based on an index or a rate –15 Lease liability recognised under IFRS 16 at 1 January 2019 1,301 In applying IFRS 16 for the first time, ING Group has used the following practical expedients permitted by the Standard: Reliance on previous assessments whether a contract is, or contains a lease at the date of initial application; The use of a single discount rate to a portfolio of leases with reasonably similar characteristics; Reliance on previous assessments on whether leases are onerous; The accounting for operating leases with a remaining lease term of less than 12 months as at 1 January 2019 as s hort-term leases; The exclusion of initial direct costs for the measurement of the right-of-use asset at the date of initial application; and The use of hindsight in determining the lease term where the contract contains options to extend or terminate the lease. 1. b) IFRS 16 - Accounting policies applied from 1 January 2019 A lessee is required to recognise a right-of-use asset representing its right to use the underlying leased asset and a corresponding liability representing its obligation to mak e lease payments at the date at which the leased asset is available for use by ING Group. Each lease payment is allocated between the liability and finance cost. The finance costs are charged to profit or loss over the lease period so as to produce a const ant periodic rate of interest on the remaining balance of the liability for each period. The right-of-use asset is depreciated over the shorter of the asset’s useful life and the lease term on a straight-line basis. Assets and liabilities arising from a l ease are initially measured on a present value basis. Lease liabilities include the net present value of the following lease payments: Fixed payments (including in-substance fixed payments), less any lease incentives receivable; Variable lease payments th at are based on an index or a rate; Amounts expected to be payable by the lessee under residual value guarantees; The exercise price of a purchase option if the lessee is reasonably certain to exercise that option; and Payments of penalties for terminating the lease, if the lease term reflects the lessee exercising that option. The lease payments are discounted using the interest rate implicit in the lease. If that rate cannot be determined, the lessee’s incremental borrowing rate is used, being the rate t hat the lessee would have to pay to borrow the funds necessary to obtain an asset of similar value in a similar economic environment with similar terms and conditions. This rate is approximated by using the risk free rate applicable to the lease term, the currency of the lease payment and jurisdiction, with the Fund Transfer Pricing (FTP) rate as an add-on. The FTP rate is used to transfer interest rate risk and funding and liquidity risk positions between the ING Group business and treasury departments. It is determined by either ING Group or Local Asset and Liability Committee (ALCO). Right-of-use assets are measured at cost comprising the amount of the initial measurement of the lease liability, any lease payments made at or before the commencement date less any lease incentives received and any initial direct costs and restoration costs. Payments associated with short-term leases and leases of low-value assets are recognised on a straight-line basis as an expense in profit or loss. Short-term leases are leases with a lease term of 12 months or less. Low-value assets comprise mainly IT-equipment (for example mobile phones or laptops) and small items of office furniture. The right-of-use asset is included in the statement of financial position line-item ‘Property and equipment’, the lease liability is included in the statement of financial position line-item ‘Other liabilities’. 1. c) Leases prior to 1 January 2019 under I AS 17 The comparative figures presented are accounted for using the previous Standard, IAS 17 ‘Leases’. Under this Standard a distinction is made between finance leases and operating leases. A lease is considered a finance lease if it transfers substantial ly all risks and rewards of the ownership of the asset. All other leases are operating leases. Leases entered into by ING Group as a lessee are primarily operating leases. The total payments under operating leases are recognised in the statement of profi t or loss on a straight-line basis over the period of the lease. When ING Group acts as a lessor these are mainly finance leases. The present value of the lease payments is recognised as a receivable under Loans and advances to customers or Loans and adv ances to banks. The difference between the gross receivable and the present value of the receivable is unearned finance lease income. Lease income is recognised over the term of the lease using the net investment method (before tax), which reflects a const ant periodic rate of return. |
Financial assets at fair value
Financial assets at fair value through profit or loss | 6 Months Ended |
Jun. 30, 2019 | |
Disclosure of Financial assets at fair value through profit or loss [abstract] | |
Financial assets at fair value through profit or loss | Notes to the Condensed consolidated statement of financial position 2 Financial assets at fair value through profit or loss Financial assets at fair value through profit or loss 30 June 2019 31 December 2018 Trading assets 54,212 50,152 Non-trading derivatives 2,397 2,664 Designated at fair value through profit or loss 2,944 2,887 Mandatorily measured at fair value through profit or loss 59,376 64,783 118,928 120,486 Trading assets and Trading liabilities include assets and liabilities that are classified under IFRS as Trading, but are closely related to servicing the needs of the clients of ING Group. ING offers institutional clients, corporate clients, and governments, products that are traded on the financial markets. A significant part of the derivatives in the trading portfol io are related to servicing corporate clients in their risk management to hedge for example currency or interest rate exposures. In addition, ING provides its customers access to equity and debt markets for issuing their own equity or debt securities (secu rities underwriting). Although these are presented as Trading under IFRS, these are directly related to services to ING’s customers. Loans and receivables in the trading portfolio mainly relate to reverse repurchase agreements, which are comparable to col lateralised lending. From a risk perspective, the gross amount of trading assets must be considered together with the gross amount of trading liabilities, which are presented separately on the statement of financial position. However, IFRS does not always allow netting of these positions in the statement of financial position. Reference is made to Note 7 ‘Financial liabilities at fair value through profit or loss’ for information on trading liabilities Financial assets ‘Mandatorily measured at f air value through profit or loss’ mainly includ e reverse repurchase agreements. The related repurchase financial liabilities are classified as financial liabilities ‘Designated at fair value through profit or loss’. |
Financial assets at fair valu_2
Financial assets at fair value through other comprehensive income | 6 Months Ended |
Jun. 30, 2019 | |
Financial Assets At Fair Value Through Other Comprehensive Income [Abstract] | |
Financial assets at fair value through other comprehensive income | 3 Financial assets at fair value through other comprehensive income Financial assets at fair value through other comprehensive income by type 30 June 2019 31 December 2018 Equity securities 2,551 3,228 Debt securities 1 26,776 25,616 Loans and advances 1 1,967 2,379 31,294 31,223 1 Debt securities include an amount of loan loss provisions of EUR -8 million (31 December 2018: EUR -6 million) and the Loans and advances includes an amount of loan loss provision of EUR -4 million (31 December 2018: -5 million). Exposure to equity securities Equity securities designated as at fair value through other comprehensive income Carrying value Dividend income 30 June 2019 30 June 2019 Investment in Bank of Beijing 2,080 Other Investments 471 5 2,551 5 For strategic equity securities, ING decided to apply the option to irrevocably designate these investments at fair value through other comprehensive income, instead of the IFRS 9 default measurement of fair value through profit or loss. Changes in fair value through other comprehensive income financial assets The following table presents changes in fair value of equity securities and debt instruments at fair value thr ough other comprehensive income . Changes in fair value through other comprehensive income financial assets FVOCI equity securities FVOCI debt instruments 1 Total 30 June 2019 31 December 2018 30 June 2019 31 December 2018 30 June 2019 31 December 2018 Opening balance as at 1 January 3,228 3,983 27,995 65,747 31,223 69,730 Effect of changes in accounting policy –184 –31,945 –32,129 Additions 9 33 7,756 10,486 7,764 10,518 Amortisation –2 –12 –2 –12 Transfers and reclassifications 0 1 0 1 0 2 Changes in unrealised revaluations 2 241 –463 972 –660 1,213 –1,123 Impairments –3 –3 Reversals of impairments 1 16 1 16 Disposals and redemptions –943 –178 –8,039 –15,478 –8,982 –15,656 Exchange rate differences 16 35 63 –159 79 –124 Changes in the composition of the group and other changes 0 1 1 1 1 Closing balance 2,551 3,228 28,744 27,995 31,294 31,223 1 Fair value through other comprehensive income debt instruments includes both debt securities and loans and advances 2 Changes in unrealised revaluations include changes on hedged items which are recognised in the statement of profit or loss. Following a partial divestment in Q4 2018, ING sold its last tranche of shares in India’s Kotak Mahindra Bank (Kotak) in the first quarter of 2019 for EUR 923 million. The transaction, for a stake of 3.07 %, concludes the divestment process. Reference is m ade to Note 10 ‘Equity’ for information on ING’s equity reserves following the full divestment of the Kotak stake held by ING . Reference is made to Note 4 ‘Securities at amortised cost’ for details on ING Group’s exposure to debt securities . |
Securities at amortised cost
Securities at amortised cost | 6 Months Ended |
Jun. 30, 2019 | |
Disclosure of securities at amortised cost [abstract] | |
Securities at amortised cost | 4 Securities at amortised cost Securities at amortised cost 30 June 2019 31 December 2018 Debt securities at amortised cost 45,970 47,276 45,970 47,276 Exposure to debt securities ING Group’s exposure to debt securities is included in the following lines in the statement of financial position: Debt securities 30 June 2019 31 December 2018 Debt securities at fair value through other comprehensive income 26,776 25,616 Debt securities at amortised cost 45,970 47,276 Debt securities at fair value through other comprehensive income and amortised cost 72,747 72,893 Trading assets 8,409 5,213 Debt securities at fair value through profit or loss 3,196 3,218 Financial assets at fair value through profit or loss 11,605 8,431 84,352 81,323 ING Group’s total exposure to debt securities (excluding debt securities held in the trading portfolio) of EUR 75,943 million (31 December 2018 : EUR 76,111 million) is specified as follows: Debt securities by type of exposure Debt Securities at FVPL Debt Securities at FVOCI Debt Securities at AC Total 30 June 2019 31 December 2018 30 June 2019 31 December 2018 30 June 2019 31 December 2018 30 June 2019 31 December 2018 Government bonds 329 142 17,609 15,580 24,260 24,659 42,198 40,381 Sub-sovereign, Supranationals and Agencies 495 467 5,988 5,928 10,722 11,244 17,205 17,639 Covered bonds 1,600 2,245 6,985 6,722 8,585 8,967 Corporate bonds 21 23 393 485 179 765 593 1,273 Financial institutions bonds 1,415 1,527 371 460 2,405 2,415 4,192 4,402 ABS portfolio 935 1,059 823 924 1,428 1,483 3,187 3,466 3,196 3,218 26,785 25,622 45,979 47,288 75,960 76,128 Loan loss provisions –8 –6 –9 –11 –17 –17 Bond portfolio 3,196 3,218 26,776 25,616 45,970 47,276 75,943 76,111 Approximately 99 % ( 2018 : 99 %) of the exposure in the ABS portfolio is externally rated AAA, AA or A. There are no borrowed debt securities recognised in the statement of financial position. |
Loans and advances to customers
Loans and advances to customers | 6 Months Ended |
Jun. 30, 2019 | |
Loans and advances to customers [Abstract] | |
Loans and advances to customers | 5 Loans and advances to customers Loans and advances to customers by type Total 30 June 2019 31 December 2018 Loans to, or guaranteed by, public authorities 43,968 41,803 Loans secured by mortgages 342,731 337,379 Loans guaranteed by credit institutions 3,107 3,095 Personal lending 25,954 24,867 Corporate loans 195,801 187,000 611,562 594,144 Loan loss provisions –4,481 –4,491 607,081 589,653 As at 30 June 2019 , Loans and advances to customers includes receivables with regard to securities which have been acquired in reverse repurchase transactions amounting to EUR 1,416 million ( 2018 : EUR 266 million). Loans and advances to customers by subordination 30 June 2019 31 December 2018 Non-subordinated 606,974 589,533 Subordinated 107 120 607,081 589,653 No individual loan or advance has terms and conditions that significantly affect the amount, timing or certainty of the consol idated cash flows of the Group. The following table show the reconciliations from the opening to the closing balance of the loan loss provisions. Changes in Loan loss provisions 12-month ECL (Stage 1) Lifetime ECL not credit impaired (stage 2) Lifetime ECL credit impaired (stage 3) Purchased and originated credit impaired Total ¹ Opening balance as at 1 January 2019 501 925 3,139 2 4,568 Transfer into 12-month ECL 30 –208 –11 –190 Transfer into lifetime ECL not credit impaired –38 283 –61 184 Transfer into lifetime ECL credit impaired –2 –82 453 369 Net remeasurement of loan loss provision –47 27 145 124 New financial assets originated or purchased 116 116 Financial assets that have been derecognised –50 –75 –64 –188 Changes in models – Increase in loan loss provisions 10 –55 462 416 Write-offs –2 –422 –424 Recoveries of amounts previously written off 31 31 Foreign exchange and other movements –3 –4 –36 0 –43 Closing balance as at 30 June 2019 507 864 3,175 2 4,548 1 As at 30 June 2019 , the stock of provisions included provisions for loans and advances to central banks (EUR 1 million), loans and advances to banks (EUR 9 million), financial assets at FVOCI (EUR 13 million), securities at amortised cost (EUR 9 million), provisions for loans and advances to customers (EUR 4,481 million) and provisions for contingent liabiliti es (credit replacements) recorded under Provisions (EUR 36 million). Changes in Loan loss provisions ¹ 12-month ECL (Stage 1) Lifetime ECL not credit impaired (stage 2) Lifetime ECL credit impaired (stage 3) Purchased and originated credit impaired Total ² Opening balance as at 1 January 2018 IAS 39 4,521 Effect of changes in accounting policy 795 Opening balance as at 1 January 2018 438 955 3,916 7 5,316 Transfer into 12-month ECL 19 –206 –23 –209 Transfer into lifetime ECL not credit impaired –62 501 –56 383 Transfer into lifetime ECL credit impaired –7 –86 707 615 Net remeasurement of loan loss provision 17 –55 312 274 New financial assets originated or purchased 213 212 Financial assets that have been derecognised –101 –145 –341 –588 Changes in models Increase in loan loss provisions 80 9 599 688 Write-offs –1,043 –1,044 Recoveries of amounts previously written off 53 53 Foreign exchange and other movements –18 –38 –386 –4 –446 Closing balance as at 31 December 2018 501 925 3,139 2 4,568 1 As at 31 December 2018, the stock of provisions included provisions for loans and advances to central banks (EUR 3 million), loans and advances to banks (EUR 9 million), financial assets at FVOCI (EUR 11 million), securities at amortised cost (EUR 11 million), provisions for loans and advances to customers (EUR 4,491 million) and provisions for contingent liabilities (credit replacements) recorded under Provisions (EUR 42 million). |
Assets and liabilities held for
Assets and liabilities held for sale | 6 Months Ended |
Jun. 30, 2019 | |
Disclosure of assets and liabilities held for sale [abstract] | |
Assets and liabilities held for sale | 6 Assets and liabilities held for sale Assets and liabilities held for sale includes disposal groups whose carrying amount will be recovered principally through a sale transaction rather than through continuing operations. In December 2018, ING reached an agreement to sell part of the ING Lease Italy business. The carrying amount of EUR 1,154 million of the assets and liabilities held for sale decreased compared to a carrying amount of EUR 1,262 million as at 31 December 201 8 due to a change in expected cashflows to be realised in the sale transaction. The sale was completed on 1 July 2019, see also Note 22 ‘Subsequent events’ . |
Financial liabilities at fair v
Financial liabilities at fair value through profit or loss | 6 Months Ended |
Jun. 30, 2019 | |
Financial liabilities at fair value through profit or loss [abstract] | |
Financial liabilities at fair value through profit or loss | 7 Financial liabilities at fair value through profit or loss Financial liabilities at fair value through profit or loss 30 June 2019 31 December 2018 Trading liabilities 33,575 31,215 Non-trading derivatives 2,381 2,299 Designated at fair value through profit or loss 63,492 59,179 99,448 92,693 |
Debt securities in issue
Debt securities in issue | 6 Months Ended |
Jun. 30, 2019 | |
Disclosure of debt instruments [abstract] | |
Debt securities in issue | 8 Debt securities in issue Debt securities in issue relate to debentures and other issued debt securities with either fixed interest rates or interest rates based on floating interest rate levels, such as certificates of deposit and accepted bills issued by ING Group, except for subordinated items. Debt securities in issue do not include debt securities presented as Financial liabilities at fair value through profit or loss. ING Group does not have debt securities that are issued on terms other than those available in the normal course of business. The maturities of the debt securities are as follows: Debt securities in issue – maturities 30 June 2019 31 December 2018 Fixed rate debt securities Within 1 year 26,134 32,626 More than 1 year but less than 2 years 8,442 7,766 More than 2 years but less than 3 years 13,309 10,267 More than 3 years but less than 4 years 3,185 8,228 More than 4 years but less than 5 years 6,704 6,288 More than 5 years 28,518 20,321 Total fixed rate debt securities 86,292 85,496 Floating rate debt securities Within 1 year 22,050 22,684 More than 1 year but less than 2 years 4,806 4,134 More than 2 years but less than 3 years 3,219 1,587 More than 3 years but less than 4 years 456 1,234 More than 4 years but less than 5 years 1,451 1,563 More than 5 years 655 3,053 Total floating rate debt securities 32,637 34,255 Total debt securities 118,929 119,751 In the first six months of 2019, the decrease in Debt securities in issue of EUR 0.8 billion is mainly attributable to a decrease in commercial paper of EUR 7.9 billion, reduction in RMBS’s of EUR 2.5 billion and repayments of other Debt securities in issue of EUR 0 .9 billion, partially offset by long term maturity bonds issued of EUR 6 .5 billion, an increase in certificate of deposits of EUR 1.5 billion and issued covered bonds of EUR 2.5 billion . |
Subordinated loans
Subordinated loans | 6 Months Ended |
Jun. 30, 2019 | |
Subordinated loans [abstract] | |
Subordinated loans | 9 Subordinated loans Subordinated loans by group companies 30 June 2019 31 December 2018 ING Groep N.V. 10,651 10,355 ING Group companies 3,554 3,370 14,205 13,724 Subordinated loans issued by ING Groep N.V. include loans issued to raise Tier 1 capital for ING Bank N.V. Under IFRS these bonds are classified as liabilities and for regulatory purposes, they are considered capital. Subordinated loans issued by ING Group companies comprise, for the most part , subordinated lo ans which are subordinated to all current and future liabilities of ING Bank N.V . Changes in subordinated loans 30 June 2019 31 December 2018 Opening balance as at 1 January 13,724 15,968 Effect of changes in accounting policy 241 New issuances 1,089 1,859 Repayments –933 –4,646 Exchange rate differences and other 324 302 Closing balance 14,205 13,724 In February 2019 ING Groep N.V. issued USD 1,125 million perpetual additional Tier 1 contingent convertible capital securities with coupon of 6.750 % and first call date 16 April 2024. In June 2019 ING Groep N.V. redeemed USD 1,045 million of 6.375 % perpetual hybrid capital securities on the call date being 15 June 2019, in line with ING’s goal to continuously optimize its capital structure. The average interest rate on subordinated loa ns is 4.45 % ( 2018 : 4.44 %) . |
Equity
Equity | 6 Months Ended |
Jun. 30, 2019 | |
Disclosure Of Reserves Within Equity [abstract] | |
Equity | Equity 10 Equity Total equity 30 June 2019 31 December 2018 Share capital and share premium - Share capital 39 39 - Share premium 17,077 17,050 17,116 17,088 Other reserves - Revaluation reserve: Equity securities at fair value through other comprehensive income 1,791 1,914 - Revaluation reserve: Debt instruments at fair value through other comprehensive income 364 398 - Revaluation reserve: Cash flow hedge 1,434 604 - Revaluation reserve: Credit liability –82 8 - Revaluation reserve: Property in own use 233 204 Revaluation reserves 3,741 3,130 - Net defined benefit asset/liability remeasurement reserve –418 –394 - Currency translation reserve –2,165 –2,043 - Share of associates and joint ventures and other reserves 3,067 2,940 - Treasury shares –8 –11 4,218 3,621 Retained earnings 28,528 28,339 Shareholders’ equity (parent) 49,862 49,049 Non-controlling interests 862 803 Total equity 50,723 49,851 |
Net interest income
Net interest income | 6 Months Ended |
Jun. 30, 2019 | |
Dsclosure of interest income and expense [abstract] | |
Net interest income | Notes to the Condensed consolidated statement of profit or loss 11 Net interest income Net interest income 1 January to 30 June 6 month period 2019 2018 Interest income on loans 9,659 9,218 Interest income on financial assets at fair value through OCI 311 289 Interest income on financial assets at amortised cost 359 398 Interest income on non-trading derivatives (hedge accounting) 2,268 2,281 Negative interest on liabilities 202 213 Interest income using effective interest rate method 12,799 12,399 Interest income on financial assets at fair value through profit or loss 1,006 733 1 Interest income on non-trading derivatives (no hedge accounting) 411 324 Interest income other 16 17 Other interest income 1,434 1,073 Interest income 14,233 13,472 Interest expense on deposits from banks 184 191 Interest expense on customer deposits 1,482 1,245 Interest expense on debt securities in issue 1,239 1,059 Interest expense on subordinated loans 324 368 Negative interest on assets 186 189 Interest expense on non-trading derivatives (hedge accounting) 2,466 2,383 Interest expense using effective interest rate method 5,880 5,435 Interest expense on financial liabilities at fair value through profit or loss 892 662 1 Interest expense on non-trading derivatives (no hedge accounting) 525 495 Interest expense other 41 19 Other interest expense 1,457 1,177 Interest expense 7,337 6,612 Net interest income 6,896 6,860 1 Includes a reclassification of EUR 378 million in the six month period to 30 June 2018 , from Other interest income to Other interest expense, to align the current gross presentation of Other interest income and Other interest expense that was previously netted . |
Net fee and commission income
Net fee and commission income | 6 Months Ended |
Jun. 30, 2019 | |
Net fee And Commission Income [abstract] | |
Net fee and commission income | 12 Net fee and commission income Fee and commission income 1 January to 30 June 6 month period 2019 2018 Funds transfer 736 647 Securities business 316 304 Insurance broking 91 87 Asset management fees 97 63 Brokerage and advisory fees 278 270 Other 648 665 2,164 2,037 Other, mainly consists of commission fees in respect of bank guarantees of EUR 103 million ( first six months of 2018 : EUR 104 million), in respect of underwriting syndication loans of EUR 6 million ( first six months of 2018 : EUR 3 million), in re spect of structured finance fees of EUR 76 million ( first six months of 2018 : EUR 67 million), and in respect of collective instruments distributed but not managed by ING of EUR 80 million ( first six months of 2018 : EUR 97 million ). Fee and commission expenses 1 January to 30 june 6 month period 2019 2018 Funds transfer 321 265 Securities business 95 87 Insurance broking 1 1 Asset management fees 4 2 Brokerage and advisory fees 129 105 Other 229 201 778 660 All of ING’s net fee and commission income are in scope of IFRS 15 ‘Revenue from Contracts with Customers’. Reference is made to Note 18 ‘Segments’ which includes net fee and commission income, as reported to the Executive Board and the Management Board Banking , disaggregated by line of business and by geographical segment. |
Other income
Other income | 6 Months Ended |
Jun. 30, 2019 | |
Other income [abstract] | |
Other income | 13 Other income Other income 1 January to 30 June 6 month period 2019 2018 Share of result from associates and joint ventures 19 48 Result on disposal of group companies 117 Other 160 103 296 151 In the first six months of 2019 , Other income of EUR 296 million ( In the first six months of 2018 : EUR 151 million ) is mainly i mpacted by the sale of ING’s stake in Kotak Mahindra Bank during 1Q 2019 . I NG Mauritius is in the process of being liquidated and c onsequently, the release of the currency translation reserve (CTA) resulted in a one-off gain of EUR 119 million . Other, mainly consists of a positive result related to the reco gnition of a EUR 79 million receivable related to the insolvency of a financial institution . |
Staff expenses
Staff expenses | 6 Months Ended |
Jun. 30, 2019 | |
Staff expense [abstract] | |
Staff expenses | 14 Staff expenses Staff expenses 1 January to 30 June 6 month period 2019 2018 Salaries 1,741 1,666 Pension costs and other staff-related benefit costs 187 190 Social security costs 265 261 Share-based compensation arrangements 17 26 External employees 469 439 Education 31 41 Other staff costs 100 100 2,811 2,723 |
Other operating expenses
Other operating expenses | 6 Months Ended |
Jun. 30, 2019 | |
Disclosure of Other Operating Expense [Abstract] | |
Other operating expenses | 15 Other operating expenses Other operating expenses 1 January to 30 June 6 month period 2019 2018 IT related expenses 365 354 Office expenses 158 276 Advertising and public relations 190 200 Travel and accommodation expenses 73 93 External advisory fees 174 158 Audit and non-audit services 12 11 Postal charges 23 25 Depreciation of property and equipment 1 273 155 Amortisation of intangible assets 114 100 Impairments and reversals on property and equipment and intangibles 9 7 Regulatory costs 612 591 Addition/(unused amounts reversed) of provision for reorganisations and relocations 44 –20 Addition/(unused amounts reversed) of other provisions 12 –35 Contributions and subscriptions 55 42 Other 311 353 2,427 2,309 1 Includes depreciation expenses of right-of-use assets as recognised under IFRS 16 Regulatory costs Regulatory costs represent contributions to the Deposit Guarantee Schemes (DGS), The Single Resolution Fund (SRF ) and local bank taxes. Included in Regulatory costs for the first six months of 2019, are contributions to DGS of EUR 202 million (first six months of 2018: EUR 216 million ) mainly related to the Netherlands, Germany, Belgium, Poland and Spain and contributions to the SRF of EUR 236 million (first six months of 2018: EUR 209 million ). The contribution to the SRF in the first six months of 2019, comprises ING’s contribution for the full year 2019. Office expenses Due to implement ation of IFRS 16 there is a move from office expenses (rents) to deprec iation of property and equipment. |
Earnings per ordinary share
Earnings per ordinary share | 6 Months Ended |
Jun. 30, 2019 | |
Basic earnings per share [abstract] | |
Earnings per ordinary share | 16 Earnings per ordinary share Earnings per ordinary share Weighted average number of ordinary shares outstanding Amount during the period Per ordinary share (in EUR million) (in millions) (in EUR) 1 January to 30 June 1 January to 30 June 1 January to 30 June 2019 2018 2019 2018 2019 2018 Basic earnings 1,707 2,605 3,893.6 3,887.4 0.44 0.67 Basic earnings from continuing operations 1,707 2,605 0.44 0.67 Effect of dilutive instruments: Stock option and share plans 0.6 2.1 0.6 2.1 Diluted earnings 1,707 2,605 3,894.2 3,889.5 0.44 0.67 Diluted earnings from continuing operations 1,707 2,605 0.44 0.67 |
Dividend per ordinary share
Dividend per ordinary share | 6 Months Ended |
Jun. 30, 2019 | |
Disclosure of Dividends [abstract] | |
Dividend per ordinary share | 17 Dividend per ordinary share Dividends to shareholders of the parent Per ordinary share Total (in EUR) (in EUR million) Dividends on ordinary shares: In respect of 2017 - Final dividend, paid in cash in May 2018 0.43 1,673 In respect of 2018 - Interim dividend, paid in cash in August 2018 0.24 934 - Final dividend, paid in cash in May 2019 0.44 1,714 Total dividend in respect of 2018 0.68 2,648 In respect of 2019 - Interim dividend declared 0.24 935 On 23 April 2019, the Annual General Meeting of shareholders ratified the total dividend of EUR 0.68 per ordinary share of which EUR 0.24 was paid as an interim cash dividend during 2018. The final dividend was paid entirely in cash. ING Groep N.V. is required to withhold tax of 15 % on dividends paid. |
Segments
Segments | 6 Months Ended |
Jun. 30, 2019 | |
Disclosure of operating segments [abstract] | |
Segments | Segment reporting 18 Segments a. General ING Group’s segments are based on the internal reporting structures by lines of business. The Executive Board of ING Group and the Management Board Banking set the performance targets, approve and monitor the budgets prepared by the business lines. Business lines formulate strategic, commercial, and financial policy in conformity with the strategy and performance targets set by the Executive Board of ING Group and the Management Board Banking. Recognition and measurement of segment results are in line with the accounting policies as described in Note 1 ‘Accounting policies’. Corporate expenses are allocated to business lines based on time spent by head office personnel, the relative number of staff, or on the basis of income, expenses and/or assets of the segment. The following table specifies the segments by line of business and the main sources of income of each of the segments: Specification of the main sources of income of each of the segments by line of business Segments of the Banking results by line of business Main source of income Retail Netherlands Income from retail and private banking activities in the Netherlands, including the SME and mid-corporate segments. The main products offered are current and savings accounts, business lending, mortgages and other consumer lending in the Netherlands. (Market Leaders) Retail Belgium Income from retail and private banking activities in Belgium (including Luxembourg), including the SME and mid-corporate segments. The main products offered are similar to those in the Netherlands. (Market Leaders) Retail Germany Income from retail and private banking activities in Germany (including Austria). The main products offered are current and savings accounts, mortgages and other customer lending. (Challengers and Growth Markets) Retail Other Income from retail banking activities in the rest of the world, including the SME and mid-corporate segments in specific countries. The main products offered are similar to those in the Netherlands. (Challengers and Growth Markets) Wholesale Banking Income from wholesale banking activities (a full range of products is offered from cash management to corporate finance), real estate and lease. Specification of geographical segments Geographical segments Main countries The Netherlands Belgium Including Luxembourg Germany Including Austria Other Challengers Australia, France, Italy, Spain, Portugal, Czech Republic and UK Legacy run-off portfolio Growth Markets Poland, Romania, Turkey and Asian bank stakes Wholesale Banking Rest of World UK, Americas, Asia and other countries in Central and Eastern Europe Other Corporate Line Banking and the run-off portfolio of Real Estate ING Group evaluates the results of its banking segments using a financial performance measure called underlying result. Underlying result is used to monitor the performance of ING Group at a consolidated level and by segment. The Executive Board and Management Board Banking consider this measure to be relevant to an understanding of the Group’s financial performance, because it allows investors to understand the primary method used by management to evaluate the Group’s operating performance and make d ecisions about allocating resources. In addition, ING Group believes that the presentation of underlying net result helps investors compare its segment performance on a meaningful basis by highlighting result before tax attributable to ongoing operations a nd the underlying profitability of the segment businesses. Underlying result is derived by excluding from IFRS-IASB the impact of the IFRS-EU ‘IAS 39 carve-out’ adjustment, divestments, special items and Insurance Other. The IFRS-EU ‘IAS 39 carve-out adjustment’ relates to fair value portfolio hedge accounting strategies for the mortgage and savings portfolios in the Benelux, Germany and Czech Republic that are not eligible under IFRS-IASB. As no hedge accounting is applied to these mortgage and savings portfolios under IFRS-IASB, the fair value changes of the derivatives are not offset by fair value changes of the hedge items (mortgages and savings). Special items include items of income or expense that are signifi cant and arise from events or transactions that are clearly distinct from the regular operating activities. Disclosures on comparative periods also reflect the impact of divestments. Insurance Other reflec ts (former) insurance related activities that are not part of the discontinued operations. ING Group reconciles the total segment results to the total result of Banking using Corporate Line Banking. The Corporate Line Banking is a reflection of capital management activities and certain expenses that are not allocated to the banking businesses. The Corporate Line Banking includes the isolated legacy costs (mainly negative interest results) caused by the replacement of short-term funding with long-term funding during 2013 and 2014. ING Group applies a syst em of capital charging for its banking operations in order to create a comparable basis for the results of business units globally, irrespective of the business units’ book equity and the currency they operate in. Underlying result as presented below is a non-GAAP financial measure and is not a measure of financial performance under IFRS. Because underlying result is not determined in accordance with IFRS, underlying result as presented by ING may not be comparable to other similarly titled measures of pe rformance of other companies. The underlying result of ING’s segments is reconciled to the Net result as reported in the IFRS Consolidated statement of profit or loss below. The information presented in this note is in line with the information presented t o the Executive Board of ING Group and Management Board Banking. This note does not provide information on the revenue specified to each product or service as this is not reported internally and is therefore not readily available. b. ING Group Reconciliation between IFRS and Underlying income, expenses and net result 6 month period 1 January to 30 June 2019 Income Expenses Taxation Non-Controlling interests Net result 1 Net result IFRS attributable to equity holder of the parent 8,148 5,654 740 47 1,707 Remove impact of: Insurance Other Adjustment of the IFRS-EU 'IAS 39 carve out' 2 1,093 243 850 Underlying 3 9,241 5,654 983 47 2,556 1 Net result, after tax and non-controlling interests. 2 ING prepares the Form 6-K in accordance with IFRS-IASB. This information is prepared by reversing the hedge accounting impacts that applied under the IFRS-EU 'carve-out' version of IAS 39. For the underlying result, the impact of the carve-out is re-instated as this is the measure at which management monitors the business. 3 Underlying figures are derived from figures according to IFRS by excluding the impact of adjustment of the IFRS-EU 'IAS 39 carve-out', divestments, special items, Insurance Other. ING Group Total 6 month period 1 January to 30 June 2019 ING Bank N.V. Other Banking 1 Total Banking Legacy Insurance Total Underlying income – Net interest income 6,950 3 6,953 6,953 – Net fee and commission income 1,386 –0 1,386 1,386 – Total investment and other income 896 6 902 902 Total underlying income 9,232 9 9,241 9,241 Underlying expenditure – Operating expenses 5,226 12 5,238 5,238 – Additions to loan loss provision 416 0 416 416 Total underlying expenses 5,643 12 5,654 5,654 Underlying result before taxation 3,590 –3 3,586 3,586 Taxation 954 29 983 983 Non-controlling interests 47 0 47 47 Underlying net result 2,589 –32 2,556 2,556 Special items – – – – Insurance Other – – Adjustment of the IFRS-EU 'IAS 39 carve out' –850 –850 –850 Net result IFRS attributable to equity holder of the parent 1,739 –32 1,707 – 1,707 1 Comprises for the most part capital management activities of ING Groep N.V. (Holding). Reconciliation between IFRS and Underlying income, expenses and net result 6 month period 1 January to 30 June 2018 Income Expenses Taxation Non-Controlling interests Net result Net result IFRS attributable to equity holder of the parent 8,883 5,232 995 51 2,605 Remove impact of: Insurance Other 2 –18 –19 Adjustment of the IFRS-EU 'IAS 39 carve out' 3 75 26 50 Underlying result 4 8,940 5,232 1,021 51 2,636 1 Net result, after tax and non-controlling interests. 2 Insurance Other comprises the net result relating to warrants on the shares of Voya Financial and NN Group N.V. On 18 March 2018 ING sold its remaining part of warrants on the shares of Voya Financial. The remaining warrants on the shares of NN Group were sold in November 2018. 3 ING prepares the Form 6-K in accordance with IFRS-IASB. This information is prepared by reversing the hedge accounting that applied under the IFRS-EU 'carve-out' version of IAS 39. For the underlying result, the impact of the carve-out is re-instated as this impacts is the measure at which management monitors the business. 4 Underlying figures are derived from figures according to IFRS by excluding the impact from divestments, special items, Insurance Other, and IFRS-EU 'IAS 39 carve-out'. ING Group Total 6 month period 1 January to 30 June 2018 ING Bank N.V. Other Banking 1 Total Banking Legacy Insurance Total Underlying income – Net interest income 6,864 –19 6,845 6,845 – Net fee and commission income 1,379 –0 1,378 1,378 – Total investment and other income 711 6 717 717 Total underlying income 8,953 –13 8,940 8,940 Underlying expenditure – Operating expenses 5,040 –7 5,032 5,032 – Additions to loan loss provision 200 0 200 200 Total underlying expenses 5,240 –7 5,232 5,232 Underlying result before taxation 3,713 –5 3,708 3,708 Taxation 1,026 –5 1,021 1,021 Non-controlling interests 51 51 51 Underlying net result 2,636 –1 2,636 2,636 Insurance Other 2 19 19 Adjustment of the IFRS-EU 'IAS 39 carve out' –50 –50 –50 Net result IFRS attributable to equity holder of the parent 2,587 –1 2,586 19 2,605 1 Comprises for the most part the funding charges of ING Groep N.V. (Holding). 2 Insurance Other comprises the net result relating to warrants on the shares of Voya Financial and NN Group. On 18 March 2018 ING sold its remaining part of warrants on the shares of Voya Financial. c. Banking activities Segments Banking by line of business 6 month period 1 January to 30 June 2019 Retail Nether-lands 1 Retail Belgium Retail Germany Retail Other Wholesale Banking 1 Corporate Line Banking Total Banking Underlying income – Net interest income 1,740 959 796 1,374 1,831 253 6,953 – Net fee and commission income 329 188 123 212 538 –6 1,386 – Total investment and other income 190 112 86 100 248 166 902 Total underlying income 2,260 1,259 1,005 1,687 2,618 413 9,241 Underlying expenditure – Operating expenses 1,095 873 579 1,061 1,438 192 5,238 – Additions to loan loss provision 33 58 –23 187 162 0 416 Total underlying expenses 1,128 931 556 1,248 1,600 192 5,654 Underlying result before taxation 1,132 328 449 438 1,018 221 3,586 Taxation 287 100 153 123 209 112 983 Non-controlling interests 0 1 38 8 47 Underlying net result 845 229 295 278 801 109 2,556 Special items – – Adjustment of the IFRS-EU 'IAS 39 carve out' –850 –850 Net result Banking 845 229 295 278 –49 109 1,707 Net result Insurance Other – Net result IFRS-IASB 1,707 1 As from 2019, the Dutch domestic midcorporates real estate finance portfolio transferred from Wholesale Banking to Retail Banking Netherlands. Comparative figures have been adjusted. Segments Banking by line of business 6 month period 1 Janaury to 30 June 2018 Retail Nether-lands 1 Retail Belgium Retail Germany Retail Other Wholesale Banking 1 Corporate Line Banking Total Banking Underlying income – Net interest income 1,883 898 857 1,310 1,793 105 6,845 – Net fee and commission income 325 201 93 212 548 –1 1,378 – Total investment and other income 192 114 10 61 389 –49 717 Total underlying income 2,401 1,213 960 1,583 2,730 54 8,940 Underlying expenditure – Operating expenses 1,104 903 524 1,001 1,360 139 5,032 – Additions to loan loss provision –65 78 13 121 53 –0 200 Total underlying expenses 1,039 982 537 1,122 1,413 139 5,232 Underlying result before taxation 1,362 231 423 460 1,317 –85 3,708 Taxation 335 71 137 116 341 21 1,021 Non-controlling interests 6 1 36 8 –0 51 Underlying net result 1,026 153 285 308 968 –105 2,636 Special items Adjustment of the IFRS-EU 'IAS 39 carve out' –50 –50 Net result Banking 1,026 153 285 308 918 –105 2,586 Net result Insurance Other 19 Net result IFRS-IASB 2,605 1 As from 2019, the Dutch domestic midcorporates real estate finance portfolio transferred from Wholesale Banking to Retail Banking Netherlands. Comparative figures have been adjusted. In the first 6 months of 2018 underlying income of the transferred portfolio was EUR 134 million, underlying operating expenses EUR 26 million, addition to loan loss provision EUR -14 million, taxation EUR 29 million, and net result EUR 94 million. Geographical segments Banking 6 month period 1 January to 30 June 2019 Nether-lands Belgium 1 Germany Other Challengers Growth Markets Wholesale Banking Rest of World 1 Other Total Banking Underlying income – Net interest income 2,061 1,112 1,060 885 799 788 247 6,953 – Net fee and commission income 487 270 142 142 152 201 –6 1,386 – Total investment and other income 90 177 108 5 160 190 172 902 Total underlying income 2,638 1,558 1,310 1,032 1,110 1,180 413 9,241 Underlying expenditure – Operating expenses 1,472 1,025 654 638 608 648 193 5,238 – Additions to loan loss provision 78 99 –32 92 130 49 0 416 Total underlying expenses 1,550 1,124 622 730 738 698 193 5,654 Underlying result before taxation 1,088 435 689 302 372 482 219 3,586 Taxation 271 132 233 101 85 47 113 983 Non-controlling interests –0 0 1 46 47 Underlying net result 817 303 454 201 240 436 106 2,556 Special items – – – – – – – – Insurance Other – – Adjustment of the IFRS-EU 'IAS 39 carve out' –413 –287 –160 10 –850 Net result IFRS 404 16 294 211 240 436 106 1,707 1 As from 2019, financials of Nordics locations (which are managed from Brussels) transferred from ‘Wholesale Banking Rest of World’ to ‘Belgium’. Comparative figures have been adjusted. Geographical segments Banking 6 month period 1 January to 30 June 2018 Nether-lands Belgium 1 Germany Other Challengers Growth Markets Wholesale Banking Rest of World 1 Other Total Banking Underlying income – Net interest income 2,273 1,048 1,117 847 785 673 102 6,845 – Net fee and commission income 471 253 117 129 164 246 –1 1,378 – Total investment and other income 217 200 13 16 120 197 –46 717 Total underlying income 2,960 1,500 1,248 991 1,069 1,117 54 8,940 Underlying expenditure – Operating expenses 1,454 1,053 594 584 596 606 146 5,032 – Additions to loan loss provision –111 67 51 67 85 41 –0 200 Total underlying expenses 1,343 1,120 645 651 681 647 146 5,232 Underlying result before taxation 1,617 380 603 341 389 470 –91 3,708 Taxation 398 103 204 109 83 105 18 1,021 Non-controlling interests 0 6 1 44 –0 51 Underlying net result 1,219 270 398 231 261 365 –109 2,636 Special items Insurance Other 19 19 Adjustment of the IFRS-EU 'IAS 39 carve out' 49 –35 –53 –10 –50 Net result IFRS 1,268 235 344 222 261 365 –91 2,605 1 As from 2019, financials of Nordics locations (which are managed from Brussels) transferred from ‘Wholesale Banking Rest of World’ to ‘Belgium’. Comparative figures have been adjusted. |
Fair value of assets and liabil
Fair value of assets and liabilities | 6 Months Ended |
Jun. 30, 2019 | |
Disclosure of fair value measurement of assets and liabilities [abstract] | |
Fair value of assets and liabilities | 19 Fair value of assets and liabilities a) Financial assets and liabilities The following table presents the estimated fair values of ING Group’s financial assets and liabilities. Certain items per the statement of financial position are not included in the table, as they do not meet the definition of a financial asset or liabilit y. The aggregation of the fair values presented below does not represent, and should not be construed as representing, th e underlying value of ING Group. Fair value of financial assets and liabilities Estimated fair value Statement of financial position value 30 June 2019 31 December 2018 30 June 2019 31 December 2018 Financial assets Cash and balances with central banks 52,171 49,987 52,171 49,987 Loans and advances to banks 34,661 30,549 34,584 30,422 Financial assets at fair value through profit or loss – Trading assets 54,212 50,152 54,212 50,152 – Non-trading derivatives 2,397 2,664 2,397 2,664 – Assets mandatorily as at fair value through profit or loss 59,376 64,783 59,376 64,783 – Assets d esignated as at fair value through profit or loss 2,944 2,887 2,944 2,887 Financial assets at fair value through other comprehensive income – Equity securities 2,551 3,228 2,551 3,228 – Debt securities 26,776 25,616 26,776 25,616 – Loans and advances 1,967 2,379 1,967 2,379 Securities at amortised cost 46,851 47,815 45,970 47,276 Loans and advances to customers 622,964 602,841 607,081 589,653 Other assets 1 10,136 7,397 10,136 7,397 917,006 890,299 900,164 876,444 Financial liabilities Deposits from banks 38,531 37,631 38,095 37,330 Customer deposits 571,604 556,127 571,001 555,729 Financial liabilities at fair value through profit or loss – T rading liabilities 33,575 31,215 33,575 31,215 – Non-trading derivatives 2,381 2,299 2,381 2,299 – Designated as at fair value through profit or loss 63,492 59,179 63,492 59,179 Other liabilities 2 13,336 12,117 13,336 12,117 Debt securities in issue 120,190 119,893 118,929 119,751 Subordinated loans 14,337 13,519 14,205 13,724 857,446 831,980 855,013 831,345 Other assets do not include, among others: (deferred) tax assets, net defined benefit asset , inventory, property development and property obtained from foreclosures. Other liabilities do not include , among others: (deferred) tax liabilities , net defined benefit and related employee benefit liabilit ies , reorganisation and other provisions , lease liabilities and other taxation and social security contributions. ING Group has categorised its financial instruments that are either measured in the statement of fina ncial position at fair value or of which the fair value is disclosed, into a three level hierarchy based on the priority of the inputs to the valuation. The fair value hierarchy gives the highest priority to (unadjusted) quoted prices in active markets for identical assets or liabilities and the lowest priority to valuation techniques supported by unobservable inputs. An active market for the asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide reliable pricing information on an ongoing basis. The fair value hierarchy consists of three levels, depending upon whether fair values were determined based on (unadjusted) quoted prices in an active market (Level 1), valuation technique s with observable inputs (Level 2) or valuation techniques that incorporate inputs which are unobservable and which have a more than insignificant impact on the fair value of the instrument (Level 3). Financial assets in Level 3 include for example illiqui d debt securities, complex derivatives, certain complex loans (for which current market information about similar assets to use as observable, corroborated data for all significant inputs into a valuation model is not available), and asset backed securitie s for which there is no active market and a wide dispersion in quoted prices. Observable inputs reflect market data obtained from independent sources. Unobservable inputs are inputs which are based on the Group’s own assumptions about the factors that mar ket participants would use in pricing an asset or liability, developed based on the best information available in the market. Unobservable inputs may include volatility, correlation, spreads to discount rates, default rates and recovery rates, prepayment r ates, and certain credit spreads. Transfers into and transfers out of fair value hierarchy levels are made on a quarterly basis. Level 1 – (Unadjusted) quoted prices in active markets This category includes financial instruments whose fair value is determ ined directly by reference to (unadjusted) quote d prices in an active market that ING Group can access. A financial instrument is regarded as quoted in an active market if quoted prices are readily and regularly available from an exchange, dealer markets , broker ed markets, or principal to principal markets. T hose prices represent actual and regularly occurring market transactions with sufficient frequency and volume to provide pricing i nformation on an ongoing basis. Transfers out of Level 1 into Level 2 or Level 3 occur when ING Group establishes that markets are no longer active and therefore (unadjusted) quoted prices no longer provide reliable p ricing information. Level 2 – Valuation technique supported by observable inputs This category includes financ ial instruments whose fair value is based on market observables other than (unadjusted) quoted prices. The fair value for financial instruments in this category can be determined by reference to quoted prices for similar instruments in active markets , but for which the prices are modified based on other market observable external data or reference to quoted prices for identical or similar instruments in markets that are not active . These prices can be obtained from a third party pricing service. ING analyse s how the prices are derived and determines whether the prices are liquid tradable prices or model based consensus prices taking various data as inputs. For financial instruments that do not have a reference price available, fair value is determined usin g a valuation technique (e.g. a model), where inputs in the model are taken from an active market or are observable , such as interest rates and yield curves observable at commonly quoted intervals, implied volatilities, and credit spreads. If certain inpu ts in the model are unobservable, the instrument is still classified in this category, provided that the impact of those unobservable inputs on the overall valuation is insignificant. The notion of significant is particularly relevant for the d istinction b etween Level 2 and L evel 3 assets and liabilities. ING Group has chosen to align the definition of significant with the 90 % confidence range as captured in the prudent value definition by EBA. Unobservable parameters are shifted down and upwards to reach t his 90% confidence range. The same 90% confidence range is applied to model uncertainty. If the combined change in asset value resulting from the shift of the unobservable parameters and the model uncertainty exceeds the threshold, the asset is classified as Level 3. A valu e change below the threshold results in a L evel 2 classification. Valuation techniques used for Level 2 assets and liabilities range from discounting of cash flows to various industry standard valuation models such as option pricing model and Monte Carlo simulation model , where relevant pricing factors including the market price of underlying reference instruments, market parameters (volatilities, correlations , and credit ratings) , and customer behaviour are ta ken into account. Level 3 – Valuation technique supported by unobservable inputs This category includes financial instruments whose fair value is determined using a valuation technique (e.g. a model) for which more than an insignificant part of the inputs in terms of the overall valuation are not market observable. This category also includes financial assets and liabilities whose fair value is determined by reference to price quotes but for which the market is considered inactive . An instrument in its ent irety is classified as Level 3 if a significant portion of the instrument’s fair value is driven by unobservable inputs. Unobservable in this context means that there is little or no current market data available from which to derive a price that an unrela ted, informed buyer would purchase the asset or liability at . Financial instruments at fair value The fair values of the financial instruments were determined as follows: Methods applied in determining fair values of financial assets and liabilities (carried at fair value) Level 1 Level 2 Level 3 Total 30 June 2019 31 December 2018 30 June 2019 31 December 2018 30 June 2019 31 December 2018 30 June 2019 31 December 2018 Financial Assets Financial assets at fair value through profit or loss - Trading assets 15,426 13,041 38,590 36,617 197 494 54,212 50,152 - Non-trading derivatives 17 2,359 2,636 20 27 2,397 2,664 - Assets mandatorily at fair value through profit or loss 85 141 58,165 63,601 1,125 1,042 59,376 64,783 - Assets designated as at fair value through profit or loss 257 147 1,703 1,665 984 1,075 2,944 2,887 Financial assets at fair value through other comprehensive income 28,383 27,218 497 1,256 2,415 2,749 31,294 31,223 44,167 40,547 101,314 105,775 4,741 5,387 150,222 151,709 Financial liabilities Financial liabilities at fair value through profit or loss – Trading liabilities 4,387 5,706 29,029 25,387 159 122 33,575 31,215 – Non-trading derivatives 1 2,316 2,219 65 80 2,381 2,299 – Financial liabilities designated as at fair value through profit or loss 1,265 1,166 61,477 57,305 750 708 63,492 59,179 5,653 6,872 92,822 84,911 973 910 99,448 92,693 There were no significant transfers between Level 1 and Level 2. In the first six months of 2019, there were no changes in the valuation techniques. Changes in Level 3 Financial assets Financial assets mandatorily at FVPL Financial assets designated at FVPL Financial assets at FVOCI Trading assets Non-trading derivatives Total 30 June 2019 31 December 2018 30 June 2019 31 December 2018 30 June 2019 31 December 2018 30 June 2019 31 December 2018 30 June 2019 31 December 2018 30 June 2019 31 December 2018 Opening balance 494 1,104 27 85 1,042 1,075 365 2,749 480 5,387 2,034 Effect of changes in accounting policy 1,653 –1 3,446 5,097 Realised gain/loss recognised in the statement of profit or loss during the period 1 25 –54 –10 109 –22 10 –21 –20 –6 1 –35 45 Revaluation recognised in other comprehensive income during the period 125 –131 125 –131 Purchase of assets 30 359 2 591 1,154 731 9 85 630 2,331 Sale of assets –35 –120 –2 –166 –706 –1,677 –17 –302 –557 –1,061 –2,521 Maturity/settlement –6 –42 –18 –78 –53 –108 –330 –185 –450 Reclassifications –279 282 2 3 2 Transfers into Level 3 32 85 4 16 53 85 Transfers out of Level 3 –66 –839 –60 –37 –53 –249 –179 –1,125 Exchange rate differences 1 17 1 3 2 20 Changes in the composition of the group and other changes 1 –1 1 –1 Closing balance 197 494 20 27 1,125 1,042 984 1,075 2,415 2,749 4,741 5,387 1 Net gains/losses were recorded in income from trading activities in continuing operations herein as ‘Valuation results and net trading income’ in the statement of profit or loss. The total amounts includes EUR - 20 million of unrealised gains on losses recognised in the statement of prof it or loss. In the first six months of 2019, financial assets were transferred out of Level 3 mainly due to the valuation not being significantly impacted by unobservable inputs. In 2018, financial assets transferred out of Level 3 mainly relate to swa p positions revised to Level 2 based on the ability to demonstrate independent sourcing of observable inputs for swap pricing requirements. Changes in Level 3 Financial liabilities Financial liabilities designated as at fair value through profit or loss Trading liabilities Non-trading derivatives Total 30 June 2019 31 December 2018 30 June 2019 31 December 2018 30 June 2019 31 December 2018 30 June 2019 31 December 2018 Opening balance 122 1,073 80 68 708 101 910 1,242 Effect of changes in accounting policy 4 4 Realised gain/loss recognised in the statement of profit or loss during the period 1 40 –67 –15 8 11 1 35 –58 Issue of liabilities 45 42 1 545 46 587 Early repayment of liabilities –7 –87 –9 –20 –15 –106 Maturity/settlement –1 –37 –6 –11 –7 –49 Transfers into Level 3 9 39 153 92 162 131 Transfers out of Level 3 –49 –844 –109 –157 –844 Exchange rate differences Changes in the composition of the group and other changes 2 2 Closing balance 159 122 65 80 750 708 973 910 1 Net gains/losses were recorded in income from trading activities in continuing operations included herein as ‘Valuation results and net trading income’ in the statement of profit or loss. The total amount includes EUR 35 million of unrealised gains and losses recognised in the statement of profit or loss. In the first six months of 2019, financial liabilities were transferred out of Level 3 mainly due to the valuation not being significantly impacted by unobservable inputs. In 2018, financial liabilities transferred out of Level 3 mainly relate to swap positions revised to Level 2 based on the ability to demonstrate independent sourcing of observable inputs for swap pricing requirements. Recognition of unrealised gains and losses in Level 3 Amounts recognised in the statement of profit or loss relating to unrealised gains and losses during the year that relates to Level 3 assets and liabilities are included in the line item ‘Valuation results and net trading income’ in the statement of profit or loss. Unrealised gains and losses that relate to ‘Financial assets at fair value through other comprehensive income’ recognised in Other comprehensive income are included i n the Revaluation reserve – Equity securities at fair value through other comprehensive income or Debt Instruments at fair value through other comprehensive income. Level 3 Financial assets and liabilities Financial assets measured at fair value in the s tatement of financial position as at 30 June 2019 of EUR 150 billion include s an amount of EUR 4.7 billion ( 3.2 %) which is classified as Level 3 (31 December 2018 : EUR 5.4 billion, being 3.6 %). Changes in Level 3 from 31 Dece mber 2018 to 30 June 2019 are detailed above in the table Changes in Level 3 Financial assets. Financial liabilities measured at fair value in the statement of financial position as at 30 June 2019 of EUR 99 billion include s an amount of EUR 1.0 billion ( 1.0 %) which is classified as Level 3 (31 December 2018 : EUR 0.9 billion, being 1.0 %). Changes in Level 3 from 31 December 2018 to 30 June 2019 are disclosed above in the table ‘Changes in Level 3 Fina ncial liabilities’. Financial assets and liabilities in Level 3 include both assets and liabilities for which the fair value was determined using (i) valuation techniques that incorporate unobservable inputs as well as (ii) quoted prices which have been adjusted to reflect that the market was not actively trading at or around the balance sheet date. Unobservable inputs are inputs which are based on ING’s own assumptions about the factors that market participants would use in pricing an asset or liability, developed based on the best information available in the circumstances. Unobservable inputs may include volatility, correlation, spreads to discount rates, default rates and recovery rates, prepayment rates, and certain credit spreads. Valuation technique s that incorporate unobservable inputs are sensitive to the inputs used. Of the total amount of financial assets classified as Level 3 as at 30 June 2019 of EUR 4.7 billion (31 December 2018 : EUR 5.4 billion ) , an amount of EUR 2.8 billion ( 59.8 %) (31 December 2018 : EUR 3.4 billion , being 63.2 % ) is based on unadjusted quoted prices in inactive markets. As ING does not generally adjust quoted prices using its ow n in puts, there is no significant sensitivity to ING’s own unobservable inputs. Furthermore, Level 3 financial assets includes approximately EUR 1.1 billion (31 December 2018 : EUR 1.1 billion) which relates to financial assets that are part of structures that are designed to be fully neutral in terms of market risk. Such structures include various financial assets and l iabilities for which the overall sensitivity to market risk is insignificant. Whereas the fair value of individual components of these structures may be determined using different techniques and the fair value of each of the components of these structures may be sensitive to unobs ervable inputs, the overall sensitivity is by design not significant. The remaining EUR 0.8 billion (31 December 2018 : EUR 0.8 billion) o f the fair value classified in Level 3 financial assets is established using valuation techniques that incorporates certai n inputs that are unobservable. Of the total amount of financial liabilities classified as Level 3 as at 30 June 2019 of EUR 1.0 billion (31 December 2018 : EUR 0.9 billion) , an amount of EUR 0.7 billion ( 71.3 %) (31 December 2018 : EUR 0.7 billion, being 82.0 % ) is based on unadjusted quoted pri ces in inactive markets. As ING does not generally adjust quoted prices using i ts own inputs, there is no significant sensitivity to ING’s own unobservable inputs. Furthermore, Level 3 financial liabilities includes approximately EUR 0.1 billion (31 December 2018 : EUR 0.1 billion) which relates to financial liabilities that are part of structures that are designed to be fully neutral in ter ms of market risk. As explained above, the fair value of each o f the components of these structures may be sensitive to unobservable inputs, but the overall sensitivity is by design not significant. The remaining EUR 0.2 billion (31 December 2018 : EUR 0.1 billion) of the fair value classified in Level 3 financial liabilities is established using valuation techniques that incorporates certai n inputs that are unobservable. The table below provides a summary of the valuation techniques, key unobservable inputs and the lower and upper range of such unobservable inputs, by type of Level 3 asset/liability. The lower and upper range mentioned in the overview represent the lowest and highest variance of the respective valuation input as actually used in the valuation of the different financial instruments. Amounts and percentages stated are unweighted. The range can vary from period to period s ubject to market movements and change in Level 3 position. Lower and upper bounds reflect the variability of Level 3 positions and their underlying valuation inputs in the portfolio, but do not adequately reflect their level of valuation uncertainty. For v aluation uncertainty assessment, reference is made to section Sensitivity analysis of unobservable inputs (Level 3). Valuation techniques and range of unobservable inputs (Level 3) Assets Liabilities Valuation techniques Significant unobservable inputs Lower range Upper range 30 June 2019 31 Decem ber 2018 30 June 2019 31 Decem ber 2018 30 June 2019 31 Decem ber 2018 30 June 2019 31 Decem ber 2018 At fair value through profit or loss Debt securities 720 807 3 Price based Price (%) 0% 0% 99% 105% Net asset value Price (%) n/a 0% n/a 0% Present value techniques Credit spread (bps) n/a 131 n/a 131 Loan pricing model Credit spread (bps) n/a n/a n/a n/a Equity securities 154 162 1 Price based Price 5,475 5,475 Loans and advances 840 1,047 3 15 Price based Price (%) 0% 1% 100% 102% Present value techniques Price (%) n/a 100% n/a 100% Credit spread (bps) 2 19 455 550 (Reverse) repo's 429 481 427 424 Present value techniques Price (%) 4% 3% 4% 4% Structured notes 322 284 Price based Price (%) 82% 77% 111% 108% Net asset value Price (%) n/a n/a n/a n/a Option pricing model Equity volatility (%) 13% 13% 21% 34% Equity/Equity correlation 0.6 0.6 0.8 0.9 Equity/FX correlation -0.5 -0.7 0.2 0.5 Dividend yield (%) 1% 1% 5% 5% Interest rate volatility (bps) n/a 49 n/a 86 IR/IR correlation n/a 0.8 n/a 0.8 Present value techniques Implied correlation n/a -0.7 n/a 0.7 Derivatives – Rates 28 57 23 39 Option pricing model Interest rate volatility (bps) 48 23 300 300 Interest rate correlation n/a 0.8 n/a 0.8 IR/INF correlation n/a n/a n/a n/a Present value techniques Reset spread (%) 2% 2% 2% 2% Prepayment rate (%) n/a n/a n/a n/a Inflation rate (%) n/a n/a n/a n/a Credit spread (bps) n/a 46 n/a 46 – FX 1 1 Present value techniques Inflation rate (%) n/a n/a n/a n/a Option pricing model FX volatility (bps) 4 n/a 7 n/a – Credit 81 67 117 86 Present value techniques Credit spread (bps) 2 8 557 364 Implied correlation n/a 0.7 n/a 0.7 Jump rate (%) 12% 12% 12% 12% Price based Price (%) n/a n/a n/a n/a – Equity 43 68 38 54 Option pricing model Equity volatility (%) 4% 4% 100% 94% Equity/Equity correlation - 0.2 0.9 0.9 Equity/FX correlation -0.8 -0.8 0.6 0.5 Dividend yield (%) 0% 0% 15% 13% – Other 31 2 41 5 Option pricing model Commodity volatility (%) 0% 12% 44% 79% Com/Com correlation 0.3 0.3 0.9 0.9 Com/FX correlation -0.6 -0.5 -0.2 0.5 At fair value through other comprehensive income – Debt Price based Price (%) n/a n/a n/a n/a – Loans and advances 1,967 2,379 Present value techniques Prepayment rate 6% 6% 6% 6% – Equity 447 317 Present value techniques Credit spread (bps) 297 322 298 322 Inflation rate (%) 3% 3% 3% 3% Other 63 63 80 80 Price based Price (%) 98% 98% Total 4,741 5,387 973 910 Sensitivity analysis of unobservable inputs (Level 3) Where the fair value of a financial instrument is determined using inputs which are unobservable and which have a more than insignificant impact on the fair value of the instrument , the actual value of those inputs at the balance date may be drawn from a range of reasonably possible alternatives. In line with market practice the upper and lower bounds of the range of alternative input values reflect a 90 % level of valuation certainty . The actual levels chosen for the unobservable inputs in preparing the financial statements are consistent with the valuation methodology used for fair valued financial instruments. If ING had used input values from the upper and lower bound of this ran ge of reasonabl y possible alternative input values when va luing these instruments as of 30 June 201 9, then the impact would have been higher or lower as indicated below. The purpose of this disclosure is to present the possible impact of a change of unobse rvable inputs in the fair value of financial instruments where unobservable inputs are significant to the valuation. As ING has chosen to apply a 90% confidence level for its IFRS valuation of fair valued financial instruments, the downward valuation unc ertainty has become immaterial, whereas the potential upward valuation uncertainty, reflecting a potential profit, has increased. In practice v aluation uncertainty is measured and managed per exposure to individual valuation inputs (i.e. risk factors) at portfolio level across different product categories. Where the disclosure looks at individual L evel 3 inputs the actual valuation adjustments may also reflect the benefits of portfolio offsets. Because of the approach taken, the valuation uncertainty in the table below is broken down by related risk class rather than by product. In reality some valuation inputs are interrelated and it would be unlikely that all unobservable inputs would ever be simultaneously at the limits of their respective ranges of reasonably possible alternatives. Therefore it can be assumed that the estimates in the table below show a greater fair value uncertainty than the realistic position at 30 June 2019 assuming normal circumstances/normal markets. Also, this disclosure does not attempt to indicate or predict future fair value move ment . The numbers in isolation give limited information as in most cases these L evel 3 assets and liabilities should be seen in combination with other instruments (for example as a hedge) that are c lassified as L evel 2. The possible impact of a change of unobservable inputs in the fair value of financial instruments at fair value through other comprehensive income are estimated to be immat erial. Sensitivity analysis of Level 3 instruments Positive fair value movements from using reasonable possible alternatives Negative fair value movements from using reasonable possible alternatives 30 June 2019 31 December 2018 30 June 2019 31 December 2018 Fair value through profit or loss Equity (equity derivatives, structured notes) 45 60 – 4 Interest rates (Rates derivatives, FX derivatives) 45 43 Credit (Debt securities, Loans, structured notes, credit derivatives) 16 39 106 142 – 4 |
Legal proceedings
Legal proceedings | 6 Months Ended |
Jun. 30, 2019 | |
Disclosure Of Legal Proceedings [Abstract] | |
Legal proceedings | 20 Legal proceedings Findings regarding AML processes : As previously disclosed, after our September 2018 settlement with Dutch authorities concerning Anti-Money Laundering matters, and in the context of significantly increased attention on the prevention of financial economic crime, ING has experienced heightened scrutiny by authorities in various countries. The interactions with such regulatory and judicial authorities have included, and can be expected to continue to include, onsite visits, in formation requests, investigations and other enquiries. Such interactions, as well as ING’s internal assessments in connection with its global enhancement programme, have in some cases resulted in satisfactory outcomes, and also have resulted in, and may continue to result in, findings, or other conclusions which may require appropriate remedial actions by ING, or may have other consequences. We intend to continue to work in close cooperation with authorities as we seek to improve our management of non-fin ancial risks in terms of policies, tooling, monitoring, governance, knowledge and behaviour. Also as previously disclosed in March 2019, ING was informed by the Banca d’Italia of their report containing their conclusions regarding shortcomings in AML proc esses at ING ’s Italian Branch , which was prepared based on an inspection conducted from October 2018 until January 2019. ING is also in discussion with Italian judicial authorities concerning these conclu sions and related investigation . In line with the enhancement programme announced in 2018, ING is taking steps intended to improve processes and management of compliance risks as required by the Banca d’It alia. In consultation and in agreement with the Banca d’Italia, ING Italy has agreed that it will refrain from taking on new customers during further discussions on the enhancement plans with the Banca d’Italia. ING will continue to fully serve existing cl ients in Italy and is working hard to address the shortcomings and resolve the issues identified. ING announced steps in September 2018 to enhance its management of compliance risks and embed stronger awareness across the whole organisation. This program me started in 2017 and includes enhancing KYC files and working on various structural improvements in compliance policies, tooling, monitoring, governance, knowledge and behaviour. Tax cases : Because of the geograp hic spread of its business, ING may be su bject to tax audits, investigations and procedures in numerous jurisdictions at any point in time. Although ING believes that it has adequately provided for all its tax positions, the ultimate resolution of these audits, investigations and procedures may r esult in liabilities which are different from the amounts recognised. ING has also identified issues in connection with its U.S. tax information reporting and withholding obligations in respect of prior periods. ING has agreed with the US Internal Revenue Service (IRS) to resolve these issues by paying the tax owed. ING will make the payment out of the provision it had already recognised. Interest rate derivatives claims : ING is involved in several legal proceedings in the Netherlands with respect to inte rest rate derivatives that were sold to clients in connection with floating interest rate loans in order to hedge the interest rate risk of the loans. These proceedings are based on several legal grounds, depending on the facts and circumstances of each sp ecific case, inter alia alleged breach of duty of care, insufficient information provided to the clients on the product and its risks and other elements related to the interest rate derivatives that were sold to clients. In some cases, the court has ruled in favour of the claimants and awarded damages, annulled the interest rate derivative or ordered repayment of certain amounts to the claimants. The total amounts that need to be repaid or compensated in some cases still need to be determined. ING may decid e to appeal against adverse rulings. Although the outcome of the pending litigation and similar cases that may be brought in the future is uncertain, it is possible that the courts may ultimately rule in favour of the claimants in some or all of such cases . Where appropriate a provision has been taken. The aggregate financial impact of the current and future litigation could become material. As requested by the AFM, ING has reviewed a significant part of the files of clients who bought interest rate derivat ives. In December 2015, the AFM concluded that Dutch banks may have to re-assess certain client files, potentially including certain derivative contracts that were terminated prior to April 2014 or other client files. As advised by the AFM, the Minister of Finance appointed a Committee of independent experts (the “Committee”) which has established a uniform recovery framework for Dutch SME clients with interest rate derivatives. ING has adopted this recovery framework and has reassessed individual files aga inst this framework. ING has taken an additional provision for the financial consequences of the recovery framework. In 2017, ING has informed the majority of the relevant clients whether they are in scope of the recovery framework, and thus eligible for c ompensation, or not. Because implementation by ING of the uniform recovery framework encountered delay, ING has previously offered advance payments to customers out of the existing provision. As of December 2018, all customers in scope of the uniform recov ery framework have received an offer of compensation from ING (including offers of no compensation). As of 1 July 2019, the required process under the uniform recovery framework had been completed for approximately 99 % of all customers in scope. |
Related parties
Related parties | 6 Months Ended |
Jun. 30, 2019 | |
Related party transactions [abstract] | |
Related parties | 21 Related parties In the normal course of business, ING Group enters into various transactions with related parties. Parties are considered to be related if one party has the ability to control or exercise significant influence over the other party in making financial or operating decisions. Related parties of ING Group include, among others, its subsidiaries, associates, joint ventures, key manage ment personnel, and various defined benefit and contribution plans. Transactions between related parties include rendering or receiving of services, leases, transfers under finance arrangements and provisions of guarantees or collateral. Transactions with related parties are disclosed in Note 51 ‘related parties’ in the 2018 Form 20F ING Group Consolidated financial statements. |
Subsequent events
Subsequent events | 6 Months Ended |
Jun. 30, 2019 | |
Disclosure of non-adjusting events after reporting period [abstract] | |
Subsequent events | 22 Subsequent events In December 2018, ING reached an agreement to sell part of the ING Lease Italy business. The sale of this Italian lease business, which was per 30 June 2019 included on the line “Assets and liabilities held for sale” with a fair value and carrying amount of EUR 1,154 million, was completed on 1 July 2019. The transaction will not have a material impact on ING’s overall profit and loss account, shareholders' equity or capital ratios in the third quarter of 2019 . |
Accounting policies (Policies)
Accounting policies (Policies) | 6 Months Ended |
Jun. 30, 2019 | |
Disclosure of initial application of standards or interpretations [line items] | |
Leases | 1. c) Leases prior to 1 January 2019 under I AS 17 The comparative figures presented are accounted for using the previous Standard, IAS 17 ‘Leases’. Under this Standard a distinction is made between finance leases and operating leases. A lease is considered a finance lease if it transfers substantial ly all risks and rewards of the ownership of the asset. All other leases are operating leases. Leases entered into by ING Group as a lessee are primarily operating leases. The total payments under operating leases are recognised in the statement of profi t or loss on a straight-line basis over the period of the lease. When ING Group acts as a lessor these are mainly finance leases. The present value of the lease payments is recognised as a receivable under Loans and advances to customers or Loans and adv ances to banks. The difference between the gross receivable and the present value of the receivable is unearned finance lease income. Lease income is recognised over the term of the lease using the net investment method (before tax), which reflects a const ant periodic rate of return. |
IFRS 16 Leases [Member] | |
Disclosure of initial application of standards or interpretations [line items] | |
Changes in IFRS effective in 2019 | 1 Accounting policies ING Group has consistently applied its accounting policies to all periods presented in these Condensed consolidated in terim accounts, except for changes in IFRS 16 that became effective in 2019. Major new IFRSs A number of new or amended standards and an IFRIC interpretation became applicable for the current reporting period. ING Group changed its accounting policies as a result of adopting IFRS 16. The impact of the adoption of IFRS 16 is disclosed in Note 1a ‘IFRS 16 – Impact of adoption’ and the new IFRS 16 accounting policies are disclosed in note 1b ‘IFRS 16 - Accounting policies applied from 1 January 2019’. The ot her amendments did not have a significant impact on the Group’s accounting policies. ING Group has not early adopted any standard, interpretation or amendment which has been issued, but is not yet effective Changes to accounting policies in 2019 IFRS 16 ‘Leases’ IFRS 16 ‘Leases’ was issued by the IASB in January 2016 and endorsed by the EU in October 2017. IFRS 16 replaces IAS 17 ‘Leases’, IFRIC 4 ‘Determining whether an Arrangement contains a Lease’, SIC-15 ‘Operating Leases- Incentives’ and SIC-27 ‘Evaluating the Substance of Transactions Involving the Legal Form of a Lease’. ING Group has adopted IFRS 16 retrospectively from 1 January 2019, but has not restated comparatives for the 2019 reporting period, as permitted under the specific transitional provisions in the Standard. The reclassifications and the adjustments arising from the new leasing rules are therefore recogn ized in the opening statement of financial position on 1 January 2019. 1. a) IFRS 16 – Impact of adoption Transition For lessee accounting, the new Standard removes the distinction between operating and finance leases. All leases are recognized on the st atement of financial position with exemptions for short-term leases with a lease term of less than 12 months and leases of low-value assets (for example mobile phones or laptops). There is no significant impact of the adoption of IFRS 16 on ING Group’s Ne t Result, Comprehensive income and Shareholders’ equity on transition. This follows ING Group’s implementation decision where the value of the right-of-use asset is based on the value of the lease liability, adjusted for any previously recognized prepaid a nd/or accrued lease payments on that lease contract, as is permitted under the Standard. On transition to IFRS 16, ING recognised lease liabilities of EUR 1,301 million and right-of-use assets of EUR 1,279 million equal to the lease liability adjusted for any previously recognised prepaid or accrued lease payments on that lease. The weighted average incremental borrowing rate applied to lease liabilities recognised in the statement of financial position at the date of initial application is 2.47 %. The fo llowing table reconciles the future rental commitments for operating lease contracts under IAS 17 to the lease liability under IFRS 16 on transition to IFRS 16 as of 1 January 2019: 1 January 2019 Future rental commitments for operating lease contract disclosed under IAS 17 as at 31 December 2018 1,378 (Less) discounting effect using ING’s incremental borrowing rate at 1-1-2019 –108 (Less) recognition exemption for short-term leases –16 (Less) recognition exemption for low value assets –3 (Less) non-lease components of a contract –78 Add extension and termination options reasonably certain to be exercised 143 (Less) variable lease payments based on an index or a rate –15 Lease liability recognised under IFRS 16 at 1 January 2019 1,301 In applying IFRS 16 for the first time, ING Group has used the following practical expedients permitted by the Standard: Reliance on previous assessments whether a contract is, or contains a lease at the date of initial application; The use of a single discount rate to a portfolio of leases with reasonably similar characteristics; Reliance on previous assessments on whether leases are onerous; The accounting for operating leases with a remaining lease term of less than 12 months as at 1 January 2019 as s hort-term leases; The exclusion of initial direct costs for the measurement of the right-of-use asset at the date of initial application; and The use of hindsight in determining the lease term where the contract contains options to extend or terminate the lease. 1. b) IFRS 16 - Accounting policies applied from 1 January 2019 A lessee is required to recognise a right-of-use asset representing its right to use the underlying leased asset and a corresponding liability representing its obligation to mak e lease payments at the date at which the leased asset is available for use by ING Group. Each lease payment is allocated between the liability and finance cost. The finance costs are charged to profit or loss over the lease period so as to produce a const ant periodic rate of interest on the remaining balance of the liability for each period. The right-of-use asset is depreciated over the shorter of the asset’s useful life and the lease term on a straight-line basis. Assets and liabilities arising from a l ease are initially measured on a present value basis. Lease liabilities include the net present value of the following lease payments: Fixed payments (including in-substance fixed payments), less any lease incentives receivable; Variable lease payments th at are based on an index or a rate; Amounts expected to be payable by the lessee under residual value guarantees; The exercise price of a purchase option if the lessee is reasonably certain to exercise that option; and Payments of penalties for terminating the lease, if the lease term reflects the lessee exercising that option. The lease payments are discounted using the interest rate implicit in the lease. If that rate cannot be determined, the lessee’s incremental borrowing rate is used, being the rate t hat the lessee would have to pay to borrow the funds necessary to obtain an asset of similar value in a similar economic environment with similar terms and conditions. This rate is approximated by using the risk free rate applicable to the lease term, the currency of the lease payment and jurisdiction, with the Fund Transfer Pricing (FTP) rate as an add-on. The FTP rate is used to transfer interest rate risk and funding and liquidity risk positions between the ING Group business and treasury departments. It is determined by either ING Group or Local Asset and Liability Committee (ALCO). Right-of-use assets are measured at cost comprising the amount of the initial measurement of the lease liability, any lease payments made at or before the commencement date less any lease incentives received and any initial direct costs and restoration costs. Payments associated with short-term leases and leases of low-value assets are recognised on a straight-line basis as an expense in profit or loss. Short-term leases are leases with a lease term of 12 months or less. Low-value assets comprise mainly IT-equipment (for example mobile phones or laptops) and small items of office furniture. The right-of-use asset is included in the statement of financial position line-item ‘Property and equipment’, the lease liability is included in the statement of financial position line-item ‘Other liabilities’. |
Upcoming changes in IFRS | Upcoming changes in IFRS There are no upcoming changes in IFRSs that will significantly impact the accounting policies of ING Group |
Basis of preparation of the C_2
Basis of preparation of the Condensed consolidated interim accounts (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Disclosure of basis of preparation of consolidated interim accounts [abstract] | |
Reconciliation Shareholders' Equity under IFRS-EU and IFRS-IASB | Reconciliation shareholders’ equity under IFRS-EU and IFRS-IASB Total Equity 30 June 2019 31 December 2018 In accordance with IFRS-EU 52,598 50,932 Adjustment of the EU IAS 39 carve-out –3,560 –2,460 Tax effect of the adjustment 823 577 Effect of adjustment after tax –2,737 –1,883 Shareholders’ equity 49,862 49,049 Non-voting equity securities Non-controlling interests 862 803 In accordance with IFRS-IASB Total Equity 50,723 49,851 |
Reconciliation Net Result under IFRS-EU and IFRS-IASB | Reconciliation net result under IFRS-EU and IFRS-IASB Total net result 1 January to 30 June 2019 2018 In accordance with IFRS-EU 2,556 2,654 Adjustment of the EU IAS 39 carve-out –1,093 –75 Tax effect of the adjustment 243 26 Effect of adjustment after tax –850 –50 In accordance with IFRS-IASB (attributable to the equityholders of the parent) 1,707 2,605 Non-controlling interests 47 51 In accordance with IFRS-IASB net result 1,754 2,656 |
Accounting policies (Tables)
Accounting policies (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Disclosure of accounting policies [abstract] | |
Reconciliation of future rental commitments to the lease liability under IFRS 16 | 1 January 2019 Future rental commitments for operating lease contract disclosed under IAS 17 as at 31 December 2018 1,378 (Less) discounting effect using ING’s incremental borrowing rate at 1-1-2019 –108 (Less) recognition exemption for short-term leases –16 (Less) recognition exemption for low value assets –3 (Less) non-lease components of a contract –78 Add extension and termination options reasonably certain to be exercised 143 (Less) variable lease payments based on an index or a rate –15 Lease liability recognised under IFRS 16 at 1 January 2019 1,301 |
Financial assets at fair valu_3
Financial assets at fair value through profit or loss (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Disclosure of Financial assets at fair value through profit or loss [abstract] | |
Summary of Financial Assets at Fair Value Through Profit or Loss | Notes to the Condensed consolidated statement of financial position 2 Financial assets at fair value through profit or loss Financial assets at fair value through profit or loss 30 June 2019 31 December 2018 Trading assets 54,212 50,152 Non-trading derivatives 2,397 2,664 Designated at fair value through profit or loss 2,944 2,887 Mandatorily measured at fair value through profit or loss 59,376 64,783 118,928 120,486 |
Financial assets at fair valu_4
Financial assets at fair value through other comprehensive income (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Financial Assets At Fair Value Through Other Comprehensive Income [Abstract] | |
Summary of financial assets at fair value through other comprehensive income | 3 Financial assets at fair value through other comprehensive income Financial assets at fair value through other comprehensive income by type 30 June 2019 31 December 2018 Equity securities 2,551 3,228 Debt securities 1 26,776 25,616 Loans and advances 1 1,967 2,379 31,294 31,223 1 Debt securities include an amount of loan loss provisions of EUR -8 million (31 December 2018: EUR -6 million) and the Loans and advances includes an amount of loan loss provision of EUR -4 million (31 December 2018: -5 million). |
Summary of Equity Securities Designated as at Fair Value Through Other Comprehensive Income | Exposure to equity securities Equity securities designated as at fair value through other comprehensive income Carrying value Dividend income 30 June 2019 30 June 2019 Investment in Bank of Beijing 2,080 Other Investments 471 5 2,551 5 |
Summary of Changes in Fair Value through Other Comprehensive Income Financial Assets | Changes in fair value through other comprehensive income financial assets FVOCI equity securities FVOCI debt instruments 1 Total 30 June 2019 31 December 2018 30 June 2019 31 December 2018 30 June 2019 31 December 2018 Opening balance as at 1 January 3,228 3,983 27,995 65,747 31,223 69,730 Effect of changes in accounting policy –184 –31,945 –32,129 Additions 9 33 7,756 10,486 7,764 10,518 Amortisation –2 –12 –2 –12 Transfers and reclassifications 0 1 0 1 0 2 Changes in unrealised revaluations 2 241 –463 972 –660 1,213 –1,123 Impairments –3 –3 Reversals of impairments 1 16 1 16 Disposals and redemptions –943 –178 –8,039 –15,478 –8,982 –15,656 Exchange rate differences 16 35 63 –159 79 –124 Changes in the composition of the group and other changes 0 1 1 1 1 Closing balance 2,551 3,228 28,744 27,995 31,294 31,223 1 Fair value through other comprehensive income debt instruments includes both debt securities and loans and advances 2 Changes in unrealised revaluations include changes on hedged items which are recognised in the statement of profit or loss. |
Securities at amortised cost (T
Securities at amortised cost (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Securities at amortised cost [abstract] | |
Summary of Securities at Amortised Costs | 4 Securities at amortised cost Securities at amortised cost 30 June 2019 31 December 2018 Debt securities at amortised cost 45,970 47,276 45,970 47,276 |
Summary of Debt Securities | Exposure to debt securities ING Group’s exposure to debt securities is included in the following lines in the statement of financial position: Debt securities 30 June 2019 31 December 2018 Debt securities at fair value through other comprehensive income 26,776 25,616 Debt securities at amortised cost 45,970 47,276 Debt securities at fair value through other comprehensive income and amortised cost 72,747 72,893 Trading assets 8,409 5,213 Debt securities at fair value through profit or loss 3,196 3,218 Financial assets at fair value through profit or loss 11,605 8,431 84,352 81,323 |
Debt securities by type of exposure | Debt securities by type of exposure Debt Securities at FVPL Debt Securities at FVOCI Debt Securities at AC Total 30 June 2019 31 December 2018 30 June 2019 31 December 2018 30 June 2019 31 December 2018 30 June 2019 31 December 2018 Government bonds 329 142 17,609 15,580 24,260 24,659 42,198 40,381 Sub-sovereign, Supranationals and Agencies 495 467 5,988 5,928 10,722 11,244 17,205 17,639 Covered bonds 1,600 2,245 6,985 6,722 8,585 8,967 Corporate bonds 21 23 393 485 179 765 593 1,273 Financial institutions bonds 1,415 1,527 371 460 2,405 2,415 4,192 4,402 ABS portfolio 935 1,059 823 924 1,428 1,483 3,187 3,466 3,196 3,218 26,785 25,622 45,979 47,288 75,960 76,128 Loan loss provisions –8 –6 –9 –11 –17 –17 Bond portfolio 3,196 3,218 26,776 25,616 45,970 47,276 75,943 76,111 |
Loans and advances to custome_2
Loans and advances to customers (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Loans and advances to customers [Abstract] | |
Loans and advances to customers by type | 5 Loans and advances to customers Loans and advances to customers by type Total 30 June 2019 31 December 2018 Loans to, or guaranteed by, public authorities 43,968 41,803 Loans secured by mortgages 342,731 337,379 Loans guaranteed by credit institutions 3,107 3,095 Personal lending 25,954 24,867 Corporate loans 195,801 187,000 611,562 594,144 Loan loss provisions –4,481 –4,491 607,081 589,653 |
Loans and advances to customers by subordination | Loans and advances to customers by subordination 30 June 2019 31 December 2018 Non-subordinated 606,974 589,533 Subordinated 107 120 607,081 589,653 |
Changes in Loan loss provisions | Changes in Loan loss provisions 12-month ECL (Stage 1) Lifetime ECL not credit impaired (stage 2) Lifetime ECL credit impaired (stage 3) Purchased and originated credit impaired Total ¹ Opening balance as at 1 January 2019 501 925 3,139 2 4,568 Transfer into 12-month ECL 30 –208 –11 –190 Transfer into lifetime ECL not credit impaired –38 283 –61 184 Transfer into lifetime ECL credit impaired –2 –82 453 369 Net remeasurement of loan loss provision –47 27 145 124 New financial assets originated or purchased 116 116 Financial assets that have been derecognised –50 –75 –64 –188 Changes in models – Increase in loan loss provisions 10 –55 462 416 Write-offs –2 –422 –424 Recoveries of amounts previously written off 31 31 Foreign exchange and other movements –3 –4 –36 0 –43 Closing balance as at 30 June 2019 507 864 3,175 2 4,548 1 As at 30 June 2019 , the stock of provisions included provisions for loans and advances to central banks (EUR 1 million), loans and advances to banks (EUR 9 million), financial assets at FVOCI (EUR 13 million), securities at amortised cost (EUR 9 million), provisions for loans and advances to customers (EUR 4,481 million) and provisions for contingent liabiliti es (credit replacements) recorded under Provisions (EUR 36 million). Changes in Loan loss provisions ¹ 12-month ECL (Stage 1) Lifetime ECL not credit impaired (stage 2) Lifetime ECL credit impaired (stage 3) Purchased and originated credit impaired Total ² Opening balance as at 1 January 2018 IAS 39 4,521 Effect of changes in accounting policy 795 Opening balance as at 1 January 2018 438 955 3,916 7 5,316 Transfer into 12-month ECL 19 –206 –23 –209 Transfer into lifetime ECL not credit impaired –62 501 –56 383 Transfer into lifetime ECL credit impaired –7 –86 707 615 Net remeasurement of loan loss provision 17 –55 312 274 New financial assets originated or purchased 213 212 Financial assets that have been derecognised –101 –145 –341 –588 Changes in models Increase in loan loss provisions 80 9 599 688 Write-offs –1,043 –1,044 Recoveries of amounts previously written off 53 53 Foreign exchange and other movements –18 –38 –386 –4 –446 Closing balance as at 31 December 2018 501 925 3,139 2 4,568 1 As at 31 December 2018, the stock of provisions included provisions for loans and advances to central banks (EUR 3 million), loans and advances to banks (EUR 9 million), financial assets at FVOCI (EUR 11 million), securities at amortised cost (EUR 11 million), provisions for loans and advances to customers (EUR 4,491 million) and provisions for contingent liabilities (credit replacements) recorded under Provisions (EUR 42 million). |
Financial liabilities at fair_2
Financial liabilities at fair value through profit or loss (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Financial liabilities at fair value through profit or loss [abstract] | |
Financial liabilities at fair value through profit or loss | 7 Financial liabilities at fair value through profit or loss Financial liabilities at fair value through profit or loss 30 June 2019 31 December 2018 Trading liabilities 33,575 31,215 Non-trading derivatives 2,381 2,299 Designated at fair value through profit or loss 63,492 59,179 99,448 92,693 |
Debt securities in issue (Table
Debt securities in issue (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Disclosure of debt instruments [abstract] | |
Summary of Maturities of Debt Securities in Issue | Debt securities in issue – maturities 30 June 2019 31 December 2018 Fixed rate debt securities Within 1 year 26,134 32,626 More than 1 year but less than 2 years 8,442 7,766 More than 2 years but less than 3 years 13,309 10,267 More than 3 years but less than 4 years 3,185 8,228 More than 4 years but less than 5 years 6,704 6,288 More than 5 years 28,518 20,321 Total fixed rate debt securities 86,292 85,496 Floating rate debt securities Within 1 year 22,050 22,684 More than 1 year but less than 2 years 4,806 4,134 More than 2 years but less than 3 years 3,219 1,587 More than 3 years but less than 4 years 456 1,234 More than 4 years but less than 5 years 1,451 1,563 More than 5 years 655 3,053 Total floating rate debt securities 32,637 34,255 Total debt securities 118,929 119,751 |
Subordinated loans (Tables)
Subordinated loans (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Subordinated loans [abstract] | |
Schedule of Subordinated Loans by Group Companies | 9 Subordinated loans Subordinated loans by group companies 30 June 2019 31 December 2018 ING Groep N.V. 10,651 10,355 ING Group companies 3,554 3,370 14,205 13,724 |
Schedule of Changes in Subordinated Loans | Changes in subordinated loans 30 June 2019 31 December 2018 Opening balance as at 1 January 13,724 15,968 Effect of changes in accounting policy 241 New issuances 1,089 1,859 Repayments –933 –4,646 Exchange rate differences and other 324 302 Closing balance 14,205 13,724 |
Equity (Tables)
Equity (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Disclosure Of Reserves Within Equity [abstract] | |
Schedule of total equity | Equity 10 Equity Total equity 30 June 2019 31 December 2018 Share capital and share premium - Share capital 39 39 - Share premium 17,077 17,050 17,116 17,088 Other reserves - Revaluation reserve: Equity securities at fair value through other comprehensive income 1,791 1,914 - Revaluation reserve: Debt instruments at fair value through other comprehensive income 364 398 - Revaluation reserve: Cash flow hedge 1,434 604 - Revaluation reserve: Credit liability –82 8 - Revaluation reserve: Property in own use 233 204 Revaluation reserves 3,741 3,130 - Net defined benefit asset/liability remeasurement reserve –418 –394 - Currency translation reserve –2,165 –2,043 - Share of associates and joint ventures and other reserves 3,067 2,940 - Treasury shares –8 –11 4,218 3,621 Retained earnings 28,528 28,339 Shareholders’ equity (parent) 49,862 49,049 Non-controlling interests 862 803 Total equity 50,723 49,851 |
Net interest income (Tables)
Net interest income (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Dsclosure of interest income and expense [abstract] | |
Summary of Net Interest Income | Notes to the Condensed consolidated statement of profit or loss 11 Net interest income Net interest income 1 January to 30 June 6 month period 2019 2018 Interest income on loans 9,659 9,218 Interest income on financial assets at fair value through OCI 311 289 Interest income on financial assets at amortised cost 359 398 Interest income on non-trading derivatives (hedge accounting) 2,268 2,281 Negative interest on liabilities 202 213 Interest income using effective interest rate method 12,799 12,399 Interest income on financial assets at fair value through profit or loss 1,006 733 1 Interest income on non-trading derivatives (no hedge accounting) 411 324 Interest income other 16 17 Other interest income 1,434 1,073 Interest income 14,233 13,472 Interest expense on deposits from banks 184 191 Interest expense on customer deposits 1,482 1,245 Interest expense on debt securities in issue 1,239 1,059 Interest expense on subordinated loans 324 368 Negative interest on assets 186 189 Interest expense on non-trading derivatives (hedge accounting) 2,466 2,383 Interest expense using effective interest rate method 5,880 5,435 Interest expense on financial liabilities at fair value through profit or loss 892 662 1 Interest expense on non-trading derivatives (no hedge accounting) 525 495 Interest expense other 41 19 Other interest expense 1,457 1,177 Interest expense 7,337 6,612 Net interest income 6,896 6,860 |
Net fee and commission income (
Net fee and commission income (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Net fee And Commission Income [abstract] | |
Schedule of Fee and Commission Income | 12 Net fee and commission income Fee and commission income 1 January to 30 June 6 month period 2019 2018 Funds transfer 736 647 Securities business 316 304 Insurance broking 91 87 Asset management fees 97 63 Brokerage and advisory fees 278 270 Other 648 665 2,164 2,037 |
Schedule of Fee and Commission Expense | Fee and commission expenses 1 January to 30 june 6 month period 2019 2018 Funds transfer 321 265 Securities business 95 87 Insurance broking 1 1 Asset management fees 4 2 Brokerage and advisory fees 129 105 Other 229 201 778 660 |
Other income (Tables)
Other income (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Other income [abstract] | |
Other income | 13 Other income Other income 1 January to 30 June 6 month period 2019 2018 Share of result from associates and joint ventures 19 48 Result on disposal of group companies 117 Other 160 103 296 151 |
Staff expenses (Tables)
Staff expenses (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Staff expense [abstract] | |
Summary of Staff Expenses | 14 Staff expenses Staff expenses 1 January to 30 June 6 month period 2019 2018 Salaries 1,741 1,666 Pension costs and other staff-related benefit costs 187 190 Social security costs 265 261 Share-based compensation arrangements 17 26 External employees 469 439 Education 31 41 Other staff costs 100 100 2,811 2,723 |
Other operating expenses (Table
Other operating expenses (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Disclosure of Other Operating Expense [Abstract] | |
Summary of Other Operating Expenses | 15 Other operating expenses Other operating expenses 1 January to 30 June 6 month period 2019 2018 IT related expenses 365 354 Office expenses 158 276 Advertising and public relations 190 200 Travel and accommodation expenses 73 93 External advisory fees 174 158 Audit and non-audit services 12 11 Postal charges 23 25 Depreciation of property and equipment 1 273 155 Amortisation of intangible assets 114 100 Impairments and reversals on property and equipment and intangibles 9 7 Regulatory costs 612 591 Addition/(unused amounts reversed) of provision for reorganisations and relocations 44 –20 Addition/(unused amounts reversed) of other provisions 12 –35 Contributions and subscriptions 55 42 Other 311 353 2,427 2,309 1 Includes depreciation expenses of right-of-use assets as recognised under IFRS 16 |
Earnings per ordinary share (Ta
Earnings per ordinary share (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Basic earnings per share [abstract] | |
Summary of Earnings Per Ordinary Share | 16 Earnings per ordinary share Earnings per ordinary share Weighted average number of ordinary shares outstanding Amount during the period Per ordinary share (in EUR million) (in millions) (in EUR) 1 January to 30 June 1 January to 30 June 1 January to 30 June 2019 2018 2019 2018 2019 2018 Basic earnings 1,707 2,605 3,893.6 3,887.4 0.44 0.67 Basic earnings from continuing operations 1,707 2,605 0.44 0.67 Effect of dilutive instruments: Stock option and share plans 0.6 2.1 0.6 2.1 Diluted earnings 1,707 2,605 3,894.2 3,889.5 0.44 0.67 Diluted earnings from continuing operations 1,707 2,605 0.44 0.67 |
Dividend per ordinary share (Ta
Dividend per ordinary share (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Disclosure of Dividends [abstract] | |
Schedule of Dividends to Shareholders of the Parent | 17 Dividend per ordinary share Dividends to shareholders of the parent Per ordinary share Total (in EUR) (in EUR million) Dividends on ordinary shares: In respect of 2017 - Final dividend, paid in cash in May 2018 0.43 1,673 In respect of 2018 - Interim dividend, paid in cash in August 2018 0.24 934 - Final dividend, paid in cash in May 2019 0.44 1,714 Total dividend in respect of 2018 0.68 2,648 In respect of 2019 - Interim dividend declared 0.24 935 |
Segments (Tables)
Segments (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Disclosure of operating segments [abstract] | |
Summary of Reconciliation Between Underlying and IFRS Income, Expenses and Net Result | Reconciliation between IFRS and Underlying income, expenses and net result 6 month period 1 January to 30 June 2019 Income Expenses Taxation Non-Controlling interests Net result 1 Net result IFRS attributable to equity holder of the parent 8,148 5,654 740 47 1,707 Remove impact of: Insurance Other Adjustment of the IFRS-EU 'IAS 39 carve out' 2 1,093 243 850 Underlying 3 9,241 5,654 983 47 2,556 1 Net result, after tax and non-controlling interests. 2 ING prepares the Form 6-K in accordance with IFRS-IASB. This information is prepared by reversing the hedge accounting impacts that applied under the IFRS-EU 'carve-out' version of IAS 39. For the underlying result, the impact of the carve-out is re-instated as this is the measure at which management monitors the business. 3 Underlying figures are derived from figures according to IFRS by excluding the impact of adjustment of the IFRS-EU 'IAS 39 carve-out', divestments, special items, Insurance Other. Reconciliation between IFRS and Underlying income, expenses and net result 6 month period 1 January to 30 June 2018 Income Expenses Taxation Non-Controlling interests Net result Net result IFRS attributable to equity holder of the parent 8,883 5,232 995 51 2,605 Remove impact of: Insurance Other 2 –18 –19 Adjustment of the IFRS-EU 'IAS 39 carve out' 3 75 26 50 Underlying result 4 8,940 5,232 1,021 51 2,636 1 Net result, after tax and non-controlling interests. 2 Insurance Other comprises the net result relating to warrants on the shares of Voya Financial and NN Group N.V. On 18 March 2018 ING sold its remaining part of warrants on the shares of Voya Financial. The remaining warrants on the shares of NN Group were sold in November 2018. 3 ING prepares the Form 6-K in accordance with IFRS-IASB. This information is prepared by reversing the hedge accounting that applied under the IFRS-EU 'carve-out' version of IAS 39. For the underlying result, the impact of the carve-out is re-instated as this impacts is the measure at which management monitors the business. 4 Underlying figures are derived from figures according to IFRS by excluding the impact from divestments, special items, Insurance Other, and IFRS-EU 'IAS 39 carve-out'. |
Schedule of ING Group Total | ING Group Total 6 month period 1 January to 30 June 2019 ING Bank N.V. Other Banking 1 Total Banking Legacy Insurance Total Underlying income – Net interest income 6,950 3 6,953 6,953 – Net fee and commission income 1,386 –0 1,386 1,386 – Total investment and other income 896 6 902 902 Total underlying income 9,232 9 9,241 9,241 Underlying expenditure – Operating expenses 5,226 12 5,238 5,238 – Additions to loan loss provision 416 0 416 416 Total underlying expenses 5,643 12 5,654 5,654 Underlying result before taxation 3,590 –3 3,586 3,586 Taxation 954 29 983 983 Non-controlling interests 47 0 47 47 Underlying net result 2,589 –32 2,556 2,556 Special items – – – – Insurance Other – – Adjustment of the IFRS-EU 'IAS 39 carve out' –850 –850 –850 Net result IFRS attributable to equity holder of the parent 1,739 –32 1,707 – 1,707 1 Comprises for the most part capital management activities of ING Groep N.V. (Holding). ING Group Total 6 month period 1 January to 30 June 2018 ING Bank N.V. Other Banking 1 Total Banking Legacy Insurance Total Underlying income – Net interest income 6,864 –19 6,845 6,845 – Net fee and commission income 1,379 –0 1,378 1,378 – Total investment and other income 711 6 717 717 Total underlying income 8,953 –13 8,940 8,940 Underlying expenditure – Operating expenses 5,040 –7 5,032 5,032 – Additions to loan loss provision 200 0 200 200 Total underlying expenses 5,240 –7 5,232 5,232 Underlying result before taxation 3,713 –5 3,708 3,708 Taxation 1,026 –5 1,021 1,021 Non-controlling interests 51 51 51 Underlying net result 2,636 –1 2,636 2,636 Insurance Other 2 19 19 Adjustment of the IFRS-EU 'IAS 39 carve out' –50 –50 –50 Net result IFRS attributable to equity holder of the parent 2,587 –1 2,586 19 2,605 1 Comprises for the most part the funding charges of ING Groep N.V. (Holding). 2 Insurance Other comprises the net result relating to warrants on the shares of Voya Financial and NN Group. On 18 March 2018 ING sold its remaining part of warrants on the shares of Voya Financial. |
Summary of Segments Banking by Line of Business | c. Banking activities Segments Banking by line of business 6 month period 1 January to 30 June 2019 Retail Nether-lands 1 Retail Belgium Retail Germany Retail Other Wholesale Banking 1 Corporate Line Banking Total Banking Underlying income – Net interest income 1,740 959 796 1,374 1,831 253 6,953 – Net fee and commission income 329 188 123 212 538 –6 1,386 – Total investment and other income 190 112 86 100 248 166 902 Total underlying income 2,260 1,259 1,005 1,687 2,618 413 9,241 Underlying expenditure – Operating expenses 1,095 873 579 1,061 1,438 192 5,238 – Additions to loan loss provision 33 58 –23 187 162 0 416 Total underlying expenses 1,128 931 556 1,248 1,600 192 5,654 Underlying result before taxation 1,132 328 449 438 1,018 221 3,586 Taxation 287 100 153 123 209 112 983 Non-controlling interests 0 1 38 8 47 Underlying net result 845 229 295 278 801 109 2,556 Special items – – Adjustment of the IFRS-EU 'IAS 39 carve out' –850 –850 Net result Banking 845 229 295 278 –49 109 1,707 Net result Insurance Other – Net result IFRS-IASB 1,707 1 As from 2019, the Dutch domestic midcorporates real estate finance portfolio transferred from Wholesale Banking to Retail Banking Netherlands. Comparative figures have been adjusted. Segments Banking by line of business 6 month period 1 Janaury to 30 June 2018 Retail Nether-lands 1 Retail Belgium Retail Germany Retail Other Wholesale Banking 1 Corporate Line Banking Total Banking Underlying income – Net interest income 1,883 898 857 1,310 1,793 105 6,845 – Net fee and commission income 325 201 93 212 548 –1 1,378 – Total investment and other income 192 114 10 61 389 –49 717 Total underlying income 2,401 1,213 960 1,583 2,730 54 8,940 Underlying expenditure – Operating expenses 1,104 903 524 1,001 1,360 139 5,032 – Additions to loan loss provision –65 78 13 121 53 –0 200 Total underlying expenses 1,039 982 537 1,122 1,413 139 5,232 Underlying result before taxation 1,362 231 423 460 1,317 –85 3,708 Taxation 335 71 137 116 341 21 1,021 Non-controlling interests 6 1 36 8 –0 51 Underlying net result 1,026 153 285 308 968 –105 2,636 Special items Adjustment of the IFRS-EU 'IAS 39 carve out' –50 –50 Net result Banking 1,026 153 285 308 918 –105 2,586 Net result Insurance Other 19 Net result IFRS-IASB 2,605 1 As from 2019, the Dutch domestic midcorporates real estate finance portfolio transferred from Wholesale Banking to Retail Banking Netherlands. Comparative figures have been adjusted. In the first 6 months of 2018 underlying income of the transferred portfolio was EUR 134 million, underlying operating expenses EUR 26 million, addition to loan loss provision EUR -14 million, taxation EUR 29 million, and net result EUR 94 million. |
Summary of Geographical Segments Banking | Geographical segments Banking 6 month period 1 January to 30 June 2019 Nether-lands Belgium 1 Germany Other Challengers Growth Markets Wholesale Banking Rest of World 1 Other Total Banking Underlying income – Net interest income 2,061 1,112 1,060 885 799 788 247 6,953 – Net fee and commission income 487 270 142 142 152 201 –6 1,386 – Total investment and other income 90 177 108 5 160 190 172 902 Total underlying income 2,638 1,558 1,310 1,032 1,110 1,180 413 9,241 Underlying expenditure – Operating expenses 1,472 1,025 654 638 608 648 193 5,238 – Additions to loan loss provision 78 99 –32 92 130 49 0 416 Total underlying expenses 1,550 1,124 622 730 738 698 193 5,654 Underlying result before taxation 1,088 435 689 302 372 482 219 3,586 Taxation 271 132 233 101 85 47 113 983 Non-controlling interests –0 0 1 46 47 Underlying net result 817 303 454 201 240 436 106 2,556 Special items – – – – – – – – Insurance Other – – Adjustment of the IFRS-EU 'IAS 39 carve out' –413 –287 –160 10 –850 Net result IFRS 404 16 294 211 240 436 106 1,707 1 As from 2019, financials of Nordics locations (which are managed from Brussels) transferred from ‘Wholesale Banking Rest of World’ to ‘Belgium’. Comparative figures have been adjusted. Geographical segments Banking 6 month period 1 January to 30 June 2018 Nether-lands Belgium 1 Germany Other Challengers Growth Markets Wholesale Banking Rest of World 1 Other Total Banking Underlying income – Net interest income 2,273 1,048 1,117 847 785 673 102 6,845 – Net fee and commission income 471 253 117 129 164 246 –1 1,378 – Total investment and other income 217 200 13 16 120 197 –46 717 Total underlying income 2,960 1,500 1,248 991 1,069 1,117 54 8,940 Underlying expenditure – Operating expenses 1,454 1,053 594 584 596 606 146 5,032 – Additions to loan loss provision –111 67 51 67 85 41 –0 200 Total underlying expenses 1,343 1,120 645 651 681 647 146 5,232 Underlying result before taxation 1,617 380 603 341 389 470 –91 3,708 Taxation 398 103 204 109 83 105 18 1,021 Non-controlling interests 0 6 1 44 –0 51 Underlying net result 1,219 270 398 231 261 365 –109 2,636 Special items Insurance Other 19 19 Adjustment of the IFRS-EU 'IAS 39 carve out' 49 –35 –53 –10 –50 Net result IFRS 1,268 235 344 222 261 365 –91 2,605 1 As from 2019, financials of Nordics locations (which are managed from Brussels) transferred from ‘Wholesale Banking Rest of World’ to ‘Belgium’. Comparative figures have been adjusted. |
Fair value of assets and liab_2
Fair value of assets and liabilities (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Disclosure of fair value measurement of assets and liabilities [abstract] | |
Fair value of financial assets and liabilities | Fair value of financial assets and liabilities Estimated fair value Statement of financial position value 30 June 2019 31 December 2018 30 June 2019 31 December 2018 Financial assets Cash and balances with central banks 52,171 49,987 52,171 49,987 Loans and advances to banks 34,661 30,549 34,584 30,422 Financial assets at fair value through profit or loss – Trading assets 54,212 50,152 54,212 50,152 – Non-trading derivatives 2,397 2,664 2,397 2,664 – Assets mandatorily as at fair value through profit or loss 59,376 64,783 59,376 64,783 – Assets d esignated as at fair value through profit or loss 2,944 2,887 2,944 2,887 Financial assets at fair value through other comprehensive income – Equity securities 2,551 3,228 2,551 3,228 – Debt securities 26,776 25,616 26,776 25,616 – Loans and advances 1,967 2,379 1,967 2,379 Securities at amortised cost 46,851 47,815 45,970 47,276 Loans and advances to customers 622,964 602,841 607,081 589,653 Other assets 1 10,136 7,397 10,136 7,397 917,006 890,299 900,164 876,444 Financial liabilities Deposits from banks 38,531 37,631 38,095 37,330 Customer deposits 571,604 556,127 571,001 555,729 Financial liabilities at fair value through profit or loss – T rading liabilities 33,575 31,215 33,575 31,215 – Non-trading derivatives 2,381 2,299 2,381 2,299 – Designated as at fair value through profit or loss 63,492 59,179 63,492 59,179 Other liabilities 2 13,336 12,117 13,336 12,117 Debt securities in issue 120,190 119,893 118,929 119,751 Subordinated loans 14,337 13,519 14,205 13,724 857,446 831,980 855,013 831,345 Other assets do not include, among others: (deferred) tax assets, net defined benefit asset , inventory, property development and property obtained from foreclosures. Other liabilities do not include , among others: (deferred) tax liabilities , net defined benefit and related employee benefit liabilit ies , reorganisation and other provisions , lease liabilities and other taxation and social security contributions. |
Methods applied in determining fair values of financial assets and liabilities (carried at fair value) | Methods applied in determining fair values of financial assets and liabilities (carried at fair value) Level 1 Level 2 Level 3 Total 30 June 2019 31 December 2018 30 June 2019 31 December 2018 30 June 2019 31 December 2018 30 June 2019 31 December 2018 Financial Assets Financial assets at fair value through profit or loss - Trading assets 15,426 13,041 38,590 36,617 197 494 54,212 50,152 - Non-trading derivatives 17 2,359 2,636 20 27 2,397 2,664 - Assets mandatorily at fair value through profit or loss 85 141 58,165 63,601 1,125 1,042 59,376 64,783 - Assets designated as at fair value through profit or loss 257 147 1,703 1,665 984 1,075 2,944 2,887 Financial assets at fair value through other comprehensive income 28,383 27,218 497 1,256 2,415 2,749 31,294 31,223 44,167 40,547 101,314 105,775 4,741 5,387 150,222 151,709 Financial liabilities Financial liabilities at fair value through profit or loss – Trading liabilities 4,387 5,706 29,029 25,387 159 122 33,575 31,215 – Non-trading derivatives 1 2,316 2,219 65 80 2,381 2,299 – Financial liabilities designated as at fair value through profit or loss 1,265 1,166 61,477 57,305 750 708 63,492 59,179 5,653 6,872 92,822 84,911 973 910 99,448 92,693 |
Changes in Level 3 Financial Assets | Changes in Level 3 Financial assets Financial assets mandatorily at FVPL Financial assets designated at FVPL Financial assets at FVOCI Trading assets Non-trading derivatives Total 30 June 2019 31 December 2018 30 June 2019 31 December 2018 30 June 2019 31 December 2018 30 June 2019 31 December 2018 30 June 2019 31 December 2018 30 June 2019 31 December 2018 Opening balance 494 1,104 27 85 1,042 1,075 365 2,749 480 5,387 2,034 Effect of changes in accounting policy 1,653 –1 3,446 5,097 Realised gain/loss recognised in the statement of profit or loss during the period 1 25 –54 –10 109 –22 10 –21 –20 –6 1 –35 45 Revaluation recognised in other comprehensive income during the period 125 –131 125 –131 Purchase of assets 30 359 2 591 1,154 731 9 85 630 2,331 Sale of assets –35 –120 –2 –166 –706 –1,677 –17 –302 –557 –1,061 –2,521 Maturity/settlement –6 –42 –18 –78 –53 –108 –330 –185 –450 Reclassifications –279 282 2 3 2 Transfers into Level 3 32 85 4 16 53 85 Transfers out of Level 3 –66 –839 –60 –37 –53 –249 –179 –1,125 Exchange rate differences 1 17 1 3 2 20 Changes in the composition of the group and other changes 1 –1 1 –1 Closing balance 197 494 20 27 1,125 1,042 984 1,075 2,415 2,749 4,741 5,387 1 Net gains/losses were recorded in income from trading activities in continuing operations herein as ‘Valuation results and net trading income’ in the statement of profit or loss. The total amounts includes EUR - 20 million of unrealised gains on losses recognised in the statement of prof it or loss. |
Changes in Level 3 Financial Liabilities | Changes in Level 3 Financial liabilities Financial liabilities designated as at fair value through profit or loss Trading liabilities Non-trading derivatives Total 30 June 2019 31 December 2018 30 June 2019 31 December 2018 30 June 2019 31 December 2018 30 June 2019 31 December 2018 Opening balance 122 1,073 80 68 708 101 910 1,242 Effect of changes in accounting policy 4 4 Realised gain/loss recognised in the statement of profit or loss during the period 1 40 –67 –15 8 11 1 35 –58 Issue of liabilities 45 42 1 545 46 587 Early repayment of liabilities –7 –87 –9 –20 –15 –106 Maturity/settlement –1 –37 –6 –11 –7 –49 Transfers into Level 3 9 39 153 92 162 131 Transfers out of Level 3 –49 –844 –109 –157 –844 Exchange rate differences Changes in the composition of the group and other changes 2 2 Closing balance 159 122 65 80 750 708 973 910 1 Net gains/losses were recorded in income from trading activities in continuing operations included herein as ‘Valuation results and net trading income’ in the statement of profit or loss. The total amount includes EUR 35 million of unrealised gains and losses recognised in the statement of profit or loss. |
Valuation Techniques and Range of Unobservable Inputs | Valuation techniques and range of unobservable inputs (Level 3) Assets Liabilities Valuation techniques Significant unobservable inputs Lower range Upper range 30 June 2019 31 Decem ber 2018 30 June 2019 31 Decem ber 2018 30 June 2019 31 Decem ber 2018 30 June 2019 31 Decem ber 2018 At fair value through profit or loss Debt securities 720 807 3 Price based Price (%) 0% 0% 99% 105% Net asset value Price (%) n/a 0% n/a 0% Present value techniques Credit spread (bps) n/a 131 n/a 131 Loan pricing model Credit spread (bps) n/a n/a n/a n/a Equity securities 154 162 1 Price based Price 5,475 5,475 Loans and advances 840 1,047 3 15 Price based Price (%) 0% 1% 100% 102% Present value techniques Price (%) n/a 100% n/a 100% Credit spread (bps) 2 19 455 550 (Reverse) repo's 429 481 427 424 Present value techniques Price (%) 4% 3% 4% 4% Structured notes 322 284 Price based Price (%) 82% 77% 111% 108% Net asset value Price (%) n/a n/a n/a n/a Option pricing model Equity volatility (%) 13% 13% 21% 34% Equity/Equity correlation 0.6 0.6 0.8 0.9 Equity/FX correlation -0.5 -0.7 0.2 0.5 Dividend yield (%) 1% 1% 5% 5% Interest rate volatility (bps) n/a 49 n/a 86 IR/IR correlation n/a 0.8 n/a 0.8 Present value techniques Implied correlation n/a -0.7 n/a 0.7 Derivatives – Rates 28 57 23 39 Option pricing model Interest rate volatility (bps) 48 23 300 300 Interest rate correlation n/a 0.8 n/a 0.8 IR/INF correlation n/a n/a n/a n/a Present value techniques Reset spread (%) 2% 2% 2% 2% Prepayment rate (%) n/a n/a n/a n/a Inflation rate (%) n/a n/a n/a n/a Credit spread (bps) n/a 46 n/a 46 – FX 1 1 Present value techniques Inflation rate (%) n/a n/a n/a n/a Option pricing model FX volatility (bps) 4 n/a 7 n/a – Credit 81 67 117 86 Present value techniques Credit spread (bps) 2 8 557 364 Implied correlation n/a 0.7 n/a 0.7 Jump rate (%) 12% 12% 12% 12% Price based Price (%) n/a n/a n/a n/a – Equity 43 68 38 54 Option pricing model Equity volatility (%) 4% 4% 100% 94% Equity/Equity correlation - 0.2 0.9 0.9 Equity/FX correlation -0.8 -0.8 0.6 0.5 Dividend yield (%) 0% 0% 15% 13% – Other 31 2 41 5 Option pricing model Commodity volatility (%) 0% 12% 44% 79% Com/Com correlation 0.3 0.3 0.9 0.9 Com/FX correlation -0.6 -0.5 -0.2 0.5 At fair value through other comprehensive income – Debt Price based Price (%) n/a n/a n/a n/a – Loans and advances 1,967 2,379 Present value techniques Prepayment rate 6% 6% 6% 6% – Equity 447 317 Present value techniques Credit spread (bps) 297 322 298 322 Inflation rate (%) 3% 3% 3% 3% Other 63 63 80 80 Price based Price (%) 98% 98% Total 4,741 5,387 973 910 |
Fair Value of Sensitivity Analysis Instruments | Sensitivity analysis of Level 3 instruments Positive fair value movements from using reasonable possible alternatives Negative fair value movements from using reasonable possible alternatives 30 June 2019 31 December 2018 30 June 2019 31 December 2018 Fair value through profit or loss Equity (equity derivatives, structured notes) 45 60 – 4 Interest rates (Rates derivatives, FX derivatives) 45 43 Credit (Debt securities, Loans, structured notes, credit derivatives) 16 39 106 142 – 4 |
Reporting Entity - Additional I
Reporting Entity - Additional Information (Detail) | 6 Months Ended |
Jun. 30, 2019 | |
Disclosure of reporting entity [Abstract] | |
Name of reporting entity | ING Groep N.V. |
Domicile of entity | Amsterdam, the Netherlands |
Description of nature of entity's operations | ING Group is a global financial institution with a strong European base, offering a wide range of retail and wholesale banking services to customers in over 40 countries. |
Basis of preparation of the C_3
Basis of preparation of the Condensed consolidated interim accounts - Reconciliation Shareholders' Equity (Detail) - EUR (€) € in Millions | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of reconciliation shareholder equity eu ifrs and iasb ifrs [abstract] | ||||
In accordance with IFRS-EU | € 52,598 | € 50,932 | € 50,932 | |
Adjustment of the EU IAS 39 carve-out | (3,560) | (2,460) | ||
Tax effect of the adjustment | 823 | 577 | ||
Effect of adjustment after tax | (2,737) | (1,883) | ||
Shareholders' equity | 49,862 | 49,049 | ||
Non-controlling interests | 862 | 803 | ||
In accordance with IFRS-IASB Total Equity | € 50,723 | € 48,732 | € 49,851 | € 48,136 |
Basis of preparation of the C_4
Basis of preparation of the Condensed consolidated interim accounts - Reconciliation Net Result (Detail) - EUR (€) € in Millions | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Disclosure Of Reconciliation Net Result Eu Ifrs And Iasb Ifrs [abstract] | ||
In accordance with IFRS-EU | € 2,556 | € 2,654 |
Adjustment of the EU IAS 39 carve-out | (1,093) | (75) |
Tax effect of the adjustment | 243 | 26 |
Effect of adjustment after tax | (850) | (50) |
Net result attributable to Equityholders of the parent | 1,707 | 2,605 |
Non-controlling interests | 47 | 51 |
In accordance with IFRS-IASB net result | € 1,754 | € 2,656 |
Accounting Policies - Reconcili
Accounting Policies - Reconciliation to lease liabilty under IFRS 16 (Details) € in Millions | Jan. 01, 2019EUR (€) |
Lease liabilities [abstract] | |
Future rental commitments for operating lease contract disclosed as at 31 December 2018 under IAS 17 | € 1,378 |
(Less) discounting effect using ING's incremental borrowing rate at 1-1-2019 | (108) |
(Less) recognition exemption for short-term leases | (16) |
(Less) recognition exemption for low value assets | (3) |
(Less) non-lease components of a contract | (78) |
Add extension and termination options reasonably certain to be exercised | 143 |
(Less) variable lease payments based on an index or a rate | (15) |
Lease liability recognised under IFRS 16 | € 1,301 |
Accounting Policies - Additiona
Accounting Policies - Additional information (Detail) € in Millions | Jan. 01, 2019EUR (€) |
IFRS 16 Leases- Impact of adoption [abstract] | |
Weighted average incremental borrowing rate applied to lease liabilities | 2.47% |
Lease Liabilities per IFRS 16 (liabilities) | € 1,301 |
Right of use Assets, IFRS 16 (Assets) | € 1,279 |
Financial Assets at Fair Valu_5
Financial Assets at Fair Value through Profit or Loss - Summary of Financial Assets at Fair Value through Profit or Loss (Detail) - EUR (€) € in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Disclosure of fair value measurement of assets [abstract] | ||
Trading assets | € 54,212 | € 50,152 |
Non-trading derivatives | 2,397 | 2,664 |
Designated at fair value through profit or loss | 2,944 | 2,887 |
- Assets mandatorily as at fair value through profit or loss | 59,376 | 64,783 |
Financial assets at fair value through profit or loss | € 118,928 | € 120,486 |
Financial assets at fair valu_6
Financial assets at fair value through other comprehensive income - by type (Details) - EUR (€) € in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Disclosure of financial assets [line items] | ||
Financial assets at fair value through other comprehensive income | € 31,294 | € 31,223 |
Equity securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets at fair value through other comprehensive income | 2,551 | 3,228 |
Debt securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets at fair value through other comprehensive income | 26,776 | 25,616 |
Loans and advances [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets at fair value through other comprehensive income | € 1,967 | € 2,379 |
Financial assets at fair valu_7
Financial assets at fair value through other comprehensive income - Equity Securities (Details) € in Millions | 6 Months Ended |
Jun. 30, 2019EUR (€) | |
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | |
Carrying value | € 2,551 |
Dividend income | 5 |
Investment in Bank of Beijing [member] | |
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | |
Carrying value | 2,080 |
Other Investments [member] | |
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | |
Carrying value | 471 |
Dividend income | € 5 |
Financial assets at fair valu_8
Financial assets at fair value through other comprehensive income - Changes in fair value (Details) - EUR (€) € in Millions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019 | Dec. 31, 2018 | |
Disclosure of financial assets [line items] | ||
Opening balance | € 876,444 | |
Closing balance | 900,164 | € 876,444 |
FVOCI [member] | ||
Disclosure of financial assets [line items] | ||
Opening balance | 31,223 | 69,730 |
Effect of changes in accounting policy | (32,129) | |
Additions | 7,764 | 10,518 |
Amortisation | (2) | (12) |
Transfers and reclassifications | 2 | |
Changes in unrealised revaluations | 1,213 | (1,123) |
Impairments | (3) | |
Reversals of impairments | 1 | 16 |
Disposals and redemptions | (8,982) | (15,656) |
Exchange rate differences | 79 | (124) |
Changes in the composition of the group and other changes | 1 | 1 |
Closing balance | 31,294 | 31,223 |
FVOCI [member] | Equity securities [member] | ||
Disclosure of financial assets [line items] | ||
Opening balance | 3,228 | 3,983 |
Effect of changes in accounting policy | (184) | |
Additions | 9 | 33 |
Transfers and reclassifications | 1 | |
Changes in unrealised revaluations | 241 | (463) |
Disposals and redemptions | (943) | (178) |
Exchange rate differences | 16 | 35 |
Closing balance | 2,551 | 3,228 |
FVOCI [member] | Debt instruments [Member] | ||
Disclosure of financial assets [line items] | ||
Opening balance | 27,995 | 65,747 |
Effect of changes in accounting policy | (31,945) | |
Additions | 7,756 | 10,486 |
Amortisation | (2) | (12) |
Transfers and reclassifications | 1 | |
Changes in unrealised revaluations | 972 | (660) |
Impairments | (3) | |
Reversals of impairments | 1 | 16 |
Disposals and redemptions | (8,039) | (15,478) |
Exchange rate differences | 63 | (159) |
Changes in the composition of the group and other changes | 1 | 1 |
Closing balance | € 28,744 | € 27,995 |
Financial assets at fair valu_9
Financial assets at fair value through other comprehensive income - Additional information (Details) - EUR (€) € in Millions | 3 Months Ended | ||
Mar. 31, 2019 | Jun. 30, 2019 | Dec. 31, 2018 | |
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | |||
Loan loss provision | € (4,481) | € (4,491) | |
Debt securities [member] | |||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | |||
Loan loss provision | (8) | (6) | |
Loans and receivables, category [member] | |||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | |||
Loan loss provision | € (4) | € (5) | |
Investment in Kotak Mahindra Bank [member] | |||
Disclosure of fair value of investments in equity instruments designated at fair value through other comprehensive income [line items] | |||
Proceeds from sale of investments in equity instruments | € 923 | ||
Percentage of stake | 3.07% |
Securities at amortised cost (D
Securities at amortised cost (Detail) - EUR (€) € in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Disclosure of financial assets [line items] | ||
Financial assets at amortised cost | € 45,970 | € 47,276 |
Debt securities [member] | ||
Disclosure of financial assets [line items] | ||
Financial assets at amortised cost | € 45,970 | € 47,276 |
Securities at amortised cost -
Securities at amortised cost - Debt Securities (Detail) - EUR (€) € in Millions | Jun. 30, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of financial assets [line items] | |||
Total | € 900,164 | € 876,444 | |
Financial assets at FVOCI [member] | |||
Disclosure of financial assets [line items] | |||
Total | 31,294 | 31,223 | € 69,730 |
Trading assets [member] | |||
Disclosure of financial assets [line items] | |||
Total | 8,409 | 5,213 | |
Financial assets at FVPL [member] | |||
Disclosure of financial assets [line items] | |||
Total | 11,605 | 8,431 | |
Debt securities [member] | |||
Disclosure of financial assets [line items] | |||
Total | 84,352 | 81,323 | |
Debt securities [member] | Financial assets at FVOCI [member] | |||
Disclosure of financial assets [line items] | |||
Total | 26,776 | 25,616 | |
Debt securities [member] | Financial assets at amortised cost [member] | |||
Disclosure of financial assets [line items] | |||
Total | 45,970 | 47,276 | |
Debt securities [member] | Fair value through other comprehensive income and amortised cost [Member] | |||
Disclosure of financial assets [line items] | |||
Total | 72,747 | 72,893 | |
Debt securities [member] | Financial assets at FVPL [member] | |||
Disclosure of financial assets [line items] | |||
Total | € 3,196 | € 3,218 |
Securities at amortised cost _2
Securities at amortised cost - Debt securities by type of exposure (Detail) - EUR (€) € in Millions | Jun. 30, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of financial assets [line items] | |||
Loan loss provision | € (4,481) | € (4,491) | |
Financial assets | 900,164 | 876,444 | |
Financial assets at FVPL [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 11,605 | 8,431 | |
Financial assets at FVOCI [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 31,294 | 31,223 | € 69,730 |
Debt securities [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets before allowance for loan loss provision | 75,960 | 76,128 | |
Loan loss provision | (17) | (17) | |
Financial assets | 84,352 | 81,323 | |
Debt securities [member] | Financial assets at FVPL [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets before allowance for loan loss provision | 3,196 | 3,218 | |
Financial assets | 3,196 | 3,218 | |
Debt securities [member] | Financial assets at FVOCI [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets before allowance for loan loss provision | 26,785 | 25,622 | |
Loan loss provision | (8) | (6) | |
Financial assets | 26,776 | 25,616 | |
Debt securities [member] | Financial assets at amortised cost [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets before allowance for loan loss provision | 45,979 | 47,288 | |
Loan loss provision | (9) | (11) | |
Financial assets | 45,970 | 47,276 | |
Debt securities [member] | Government bonds [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets before allowance for loan loss provision | 42,198 | 40,381 | |
Debt securities [member] | Government bonds [member] | Financial assets at FVPL [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets before allowance for loan loss provision | 329 | 142 | |
Debt securities [member] | Government bonds [member] | Financial assets at FVOCI [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets before allowance for loan loss provision | 17,609 | 15,580 | |
Debt securities [member] | Government bonds [member] | Financial assets at amortised cost [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets before allowance for loan loss provision | 24,260 | 24,659 | |
Debt securities [member] | Sub-sovereign Supranationals and Agencies [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets before allowance for loan loss provision | 17,205 | 17,639 | |
Debt securities [member] | Sub-sovereign Supranationals and Agencies [member] | Financial assets at FVPL [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets before allowance for loan loss provision | 495 | 467 | |
Debt securities [member] | Sub-sovereign Supranationals and Agencies [member] | Financial assets at FVOCI [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets before allowance for loan loss provision | 5,988 | 5,928 | |
Debt securities [member] | Sub-sovereign Supranationals and Agencies [member] | Financial assets at amortised cost [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets before allowance for loan loss provision | 10,722 | 11,244 | |
Debt securities [member] | Covered bonds [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets before allowance for loan loss provision | 8,585 | 8,967 | |
Debt securities [member] | Covered bonds [member] | Financial assets at FVOCI [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets before allowance for loan loss provision | 1,600 | 2,245 | |
Debt securities [member] | Covered bonds [member] | Financial assets at amortised cost [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets before allowance for loan loss provision | 6,985 | 6,722 | |
Debt securities [member] | Corporate bonds [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets before allowance for loan loss provision | 593 | 1,273 | |
Debt securities [member] | Corporate bonds [member] | Financial assets at FVPL [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets before allowance for loan loss provision | 21 | 23 | |
Debt securities [member] | Corporate bonds [member] | Financial assets at FVOCI [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets before allowance for loan loss provision | 393 | 485 | |
Debt securities [member] | Corporate bonds [member] | Financial assets at amortised cost [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets before allowance for loan loss provision | 179 | 765 | |
Debt securities [member] | Financial institutions bonds [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets before allowance for loan loss provision | 4,192 | 4,402 | |
Debt securities [member] | Financial institutions bonds [member] | Financial assets at FVPL [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets before allowance for loan loss provision | 1,415 | 1,527 | |
Debt securities [member] | Financial institutions bonds [member] | Financial assets at FVOCI [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets before allowance for loan loss provision | 371 | 460 | |
Debt securities [member] | Financial institutions bonds [member] | Financial assets at amortised cost [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets before allowance for loan loss provision | 2,405 | 2,415 | |
Debt securities [member] | ABS portfolio [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets before allowance for loan loss provision | 3,187 | 3,466 | |
Debt securities [member] | ABS portfolio [member] | Financial assets at FVPL [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets before allowance for loan loss provision | 935 | 1,059 | |
Debt securities [member] | ABS portfolio [member] | Financial assets at FVOCI [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets before allowance for loan loss provision | 823 | 924 | |
Debt securities [member] | ABS portfolio [member] | Financial assets at amortised cost [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets before allowance for loan loss provision | 1,428 | 1,483 | |
Debt securities [member] | Bond portfolio [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 75,943 | 76,111 | |
Debt securities [member] | Bond portfolio [member] | Financial assets at FVPL [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 3,196 | 3,218 | |
Debt securities [member] | Bond portfolio [member] | Financial assets at FVOCI [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | 26,776 | 25,616 | |
Debt securities [member] | Bond portfolio [member] | Financial assets at amortised cost [member] | |||
Disclosure of financial assets [line items] | |||
Financial assets | € 45,970 | € 47,276 |
Securities at amortised cost _3
Securities at amortised cost - Additional Information (Detail) - EUR (€) € in Millions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019 | Dec. 31, 2018 | |
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | € 900,164 | € 876,444 |
Exposure percentage in debt securities | 99.00% | 99.00% |
Debt securities [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | € 84,352 | € 81,323 |
Borrowed Debt Securities | 0 | |
Debt securities [member] | Bond Portfolio [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Financial assets | € 75,943 | € 76,111 |
Loans and Advances to Custome_3
Loans and Advances to Customers - Loans and advances to customers by type (Detail) - EUR (€) € in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Disclosure of detailed information about financial instruments [line items] | ||
Loans and advances to customers before provisions | € 611,562 | € 594,144 |
Loan loss provision | (4,481) | (4,491) |
Loans and advances to customers | 607,081 | 589,653 |
Loans to, or guaranteed by, public authorities [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans and advances to customers before provisions | 43,968 | 41,803 |
Loans secured by mortgages [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans and advances to customers before provisions | 342,731 | 337,379 |
Loans guaranteed by credit institutions [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans and advances to customers before provisions | 3,107 | 3,095 |
Personal lending [Member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans and advances to customers before provisions | 25,954 | 24,867 |
Corporate loans [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Loans and advances to customers before provisions | € 195,801 | € 187,000 |
Loans and Advances to Custome_4
Loans and Advances to Customers - Loans and Advances to Customers by Subordination (Detail) - EUR (€) € in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Disclosure of detailed information about financial instruments [line items] | ||
Carrying amount | € 607,081 | € 589,653 |
Non-subordinated [member] | Loans and advances to customers [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying amount | 606,974 | 589,533 |
Subordinated [member] | Loans and advances to customers [member] | ||
Disclosure of detailed information about financial instruments [line items] | ||
Carrying amount | € 107 | € 120 |
Loans and Advances to Custome_5
Loans and Advances to Customers - Changes in Loan Loss Provisions (Detail) - EUR (€) € in Millions | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Disclosure of financial assets [line items] | |||
Opening balance | € 876,444 | ||
Increase in loan loss provisions | 416 | € 200 | |
Closing balance | 900,164 | € 876,444 | |
Financial Assets Impaired [member] | |||
Disclosure of financial assets [line items] | |||
Opening balance | 4,568 | 5,316 | 5,316 |
Transfer into 12-month ECL | (190) | (209) | |
Transfer into lifetime ECL not credit impaired | 184 | 383 | |
Transfer into lifetime ECL credit impaired | 369 | 615 | |
Net remeasurement of loan loss provision | 124 | 274 | |
New financial assets originated or purchased | 116 | 212 | |
Financial assets that have been derecognised | (188) | (588) | |
Increase in loan loss provisions | 416 | 688 | |
Write-offs | (424) | (1,044) | |
Recoveries of amounts previously written off | 31 | 53 | |
Exchange rate differences | (43) | (446) | |
Closing balance | 4,548 | 4,568 | |
Financial Assets Impaired [member] | Before accounting adjustments [member] | |||
Disclosure of financial assets [line items] | |||
Opening balance | 4,521 | 4,521 | |
Financial Assets Impaired [member] | Effects of changes in accounting policy [member] | |||
Disclosure of financial assets [line items] | |||
Opening balance | 795 | 795 | |
Stage 1: 12-month expected credit losses [member] | Financial Assets Impaired [member] | |||
Disclosure of financial assets [line items] | |||
Opening balance | 501 | 438 | 438 |
Transfer into 12-month ECL | 30 | 19 | |
Transfer into lifetime ECL not credit impaired | (38) | (62) | |
Transfer into lifetime ECL credit impaired | (2) | (7) | |
Net remeasurement of loan loss provision | (47) | 17 | |
New financial assets originated or purchased | 116 | 213 | |
Financial assets that have been derecognised | (50) | (101) | |
Increase in loan loss provisions | 10 | 80 | |
Exchange rate differences | (3) | (18) | |
Closing balance | 507 | 501 | |
Not credit-impaired [member] | Stage 2: Lifetime expected credit losses [member] | Financial Assets Impaired [member] | |||
Disclosure of financial assets [line items] | |||
Opening balance | 925 | 955 | 955 |
Transfer into 12-month ECL | (208) | (206) | |
Transfer into lifetime ECL not credit impaired | 283 | 501 | |
Transfer into lifetime ECL credit impaired | (82) | (86) | |
Net remeasurement of loan loss provision | 27 | (55) | |
Financial assets that have been derecognised | (75) | (145) | |
Increase in loan loss provisions | 9 | ||
Decrease in loan loss provisions | (55) | ||
Write-offs | (2) | ||
Exchange rate differences | (4) | (38) | |
Closing balance | 864 | 925 | |
Credit impaired [member] | Stage 3: Lifetime Expected Credit Losses [member] | Financial Assets Impaired [member] | |||
Disclosure of financial assets [line items] | |||
Opening balance | 3,139 | 3,916 | 3,916 |
Transfer into 12-month ECL | (11) | (23) | |
Transfer into lifetime ECL not credit impaired | (61) | (56) | |
Transfer into lifetime ECL credit impaired | 453 | 707 | |
Net remeasurement of loan loss provision | 145 | 312 | |
Financial assets that have been derecognised | (64) | (341) | |
Increase in loan loss provisions | 462 | 599 | |
Write-offs | (422) | (1,043) | |
Recoveries of amounts previously written off | 31 | 53 | |
Exchange rate differences | (36) | (386) | |
Closing balance | 3,175 | 3,139 | |
Purchased and originated credit impaired [member] | Financial Assets Impaired [member] | |||
Disclosure of financial assets [line items] | |||
Opening balance | 2 | € 7 | 7 |
Exchange rate differences | (4) | ||
Closing balance | € 2 | € 2 |
Loans and Advances to Custome_6
Loans and Advances to Customers - Credit quality analysis (Details) - EUR (€) € in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Credit quality of loans and advances to to customers [Line Items] | ||
Loan loss provision | € (4,481) | € (4,491) |
Carrying amount | € 607,081 | € 589,653 |
Loans and Advances to Custome_7
Loans and Advances to Customers - Additional Information (Detail) - EUR (€) € in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Disclosure of financial assets [line items] | ||
Reverse repurchase agreements | € 1,416 | € 266 |
Loan loss on provisions | 4,481 | 4,491 |
Provisions for contingent liabilities [member] | ||
Disclosure of financial assets [line items] | ||
Other provisions | 36 | 42 |
Loans and advances to central banks [Member] | ||
Disclosure of financial assets [line items] | ||
Loan loss on provisions | 1 | 3 |
Financial assets at FVOCI [member] | ||
Disclosure of financial assets [line items] | ||
Loan loss on provisions | 13 | 11 |
Securities at amortised cost [Member] | ||
Disclosure of financial assets [line items] | ||
Loan loss on provisions | 9 | 11 |
Loans And Advances To Banks [Member] | ||
Disclosure of financial assets [line items] | ||
Loan loss on provisions | € 9 | € 9 |
Assets and liabilities held f_2
Assets and liabilities held for sale (Details) - EUR (€) € in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Noncurrent assets held for sale [line items] | ||
Assets and liabilities held for sale | € 1,154 | € 1,262 |
Financial Liabilities at Fair_3
Financial Liabilities at Fair Value Through Profit or Loss - Financial Liabilities at Fair Value Through Profit or Loss (Detail) - EUR (€) € in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Disclosure of fair value measurement of liabilities [abstract] | ||
Trading liabilities | € 33,575 | € 31,215 |
Non-trading derivatives | 2,381 | 2,299 |
Designated at fair value through profit or loss | 63,492 | 59,179 |
Financial Liabilities | € 99,448 | € 92,693 |
Debt Securities in Issue - Summ
Debt Securities in Issue - Summary of Maturities of Debt Securities in Issue (Detail) - EUR (€) € in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Disclosure of financial liabilities [line items] | ||
Total debt securities | € 118,929 | € 119,751 |
Fixed rate debt securities [member] | ||
Disclosure of financial liabilities [line items] | ||
Total debt securities | 86,292 | 85,496 |
Fixed rate debt securities [member] | Within 1 year [member] | ||
Disclosure of financial liabilities [line items] | ||
Total debt securities | 26,134 | 32,626 |
Fixed rate debt securities [member] | More than 1 year but less than 2 years [member] | ||
Disclosure of financial liabilities [line items] | ||
Total debt securities | 8,442 | 7,766 |
Fixed rate debt securities [member] | More than 2 years but less than 3 years [member] | ||
Disclosure of financial liabilities [line items] | ||
Total debt securities | 13,309 | 10,267 |
Fixed rate debt securities [member] | More than 3 years but less than 4 years [member] | ||
Disclosure of financial liabilities [line items] | ||
Total debt securities | 3,185 | 8,228 |
Fixed rate debt securities [member] | More than 4 years but less than 5 years [member] | ||
Disclosure of financial liabilities [line items] | ||
Total debt securities | 6,704 | 6,288 |
Fixed rate debt securities [member] | More than 5 years [member] | ||
Disclosure of financial liabilities [line items] | ||
Total debt securities | 28,518 | 20,321 |
Floating rate debt securities [member] | ||
Disclosure of financial liabilities [line items] | ||
Total debt securities | 32,637 | 34,255 |
Floating rate debt securities [member] | Within 1 year [member] | ||
Disclosure of financial liabilities [line items] | ||
Total debt securities | 22,050 | 22,684 |
Floating rate debt securities [member] | More than 1 year but less than 2 years [member] | ||
Disclosure of financial liabilities [line items] | ||
Total debt securities | 4,806 | 4,134 |
Floating rate debt securities [member] | More than 2 years but less than 3 years [member] | ||
Disclosure of financial liabilities [line items] | ||
Total debt securities | 3,219 | 1,587 |
Floating rate debt securities [member] | More than 3 years but less than 4 years [member] | ||
Disclosure of financial liabilities [line items] | ||
Total debt securities | 456 | 1,234 |
Floating rate debt securities [member] | More than 4 years but less than 5 years [member] | ||
Disclosure of financial liabilities [line items] | ||
Total debt securities | 1,451 | 1,563 |
Floating rate debt securities [member] | More than 5 years [member] | ||
Disclosure of financial liabilities [line items] | ||
Total debt securities | € 655 | € 3,053 |
Debt Securities in Issue - Addi
Debt Securities in Issue - Additional Information (Detail) € in Billions | 6 Months Ended |
Jun. 30, 2019EUR (€) | |
Disclosure of financial liabilities [line items] | |
Increase (decrease) in debt securities | € (0.8) |
Commercial paper [member] | |
Disclosure of financial liabilities [line items] | |
Increase (decrease) in debt securities | (7.9) |
RMBS [member] | |
Disclosure of financial liabilities [line items] | |
Increase (decrease) in debt securities | (2.5) |
Long term maturity bonds [member] | |
Disclosure of financial liabilities [line items] | |
Increase (decrease) in debt securities | 6.5 |
Certificates of deposit [member] | |
Disclosure of financial liabilities [line items] | |
Increase (decrease) in debt securities | 1.5 |
Covered bonds [member] | |
Disclosure of financial liabilities [line items] | |
Increase (decrease) in debt securities | 2.5 |
Other debt securities [member] | |
Disclosure of financial liabilities [line items] | |
Increase (decrease) in debt securities | € (0.9) |
Subordinated loans - Schedule o
Subordinated loans - Schedule of Subordinated Loans by Group Companies (Detail) - EUR (€) € in Millions | Jun. 30, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure of detailed information about borrowings [line items] | |||
Subordinated loans | € 14,205 | € 13,724 | € 15,968 |
ING Groep N.V. [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Subordinated loans | 10,651 | 10,355 | |
ING Group Companies [member] | |||
Disclosure of detailed information about borrowings [line items] | |||
Subordinated loans | € 3,554 | € 3,370 |
Subordinated loans - Schedule_2
Subordinated loans - Schedule of Changes In Subordinated Loans (Detail) - EUR (€) € in Millions | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Disclosure of detailed information about borrowings [abstract] | |||
Opening balance | € 13,724 | € 15,968 | € 15,968 |
Effect Of Changes In Accounting Policy | 0 | 241 | |
New issuances | 1,089 | 1,746 | 1,859 |
Repayments | (933) | € (1,909) | (4,646) |
Exchange rate differences and other | 324 | 302 | |
Closing balance | € 14,205 | € 13,724 |
Subordinated Loans - Additional
Subordinated Loans - Additional Information (Detail) € in Millions, $ in Millions | 1 Months Ended | 6 Months Ended | 12 Months Ended | ||
May 31, 2019USD ($) | Feb. 28, 2019USD ($) | Jun. 30, 2019EUR (€) | Jun. 30, 2018EUR (€) | Dec. 31, 2018EUR (€) | |
Disclosure of detailed information about borrowings [line items] | |||||
Redemption of subordinated loans | € | € 933 | € 1,909 | € 4,646 | ||
New issuances | € | € 1,089 | € 1,746 | € 1,859 | ||
Perpetual additional Tier 1 contingent convertible capital securities [Member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Debt instruments coupon rate | 6.75% | ||||
New issuances | $ | $ 1,125 | ||||
Perpetual Hybrid Capital Securities [Member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Debt instruments coupon rate | 6.375% | ||||
Redemption of subordinated loans | $ | $ 1,045 | ||||
Subordinated Loans [Member] | |||||
Disclosure of detailed information about borrowings [line items] | |||||
Average interest rate | 4.45% | 4.44% |
Equity - Summary of Equity (Det
Equity - Summary of Equity (Detail) - EUR (€) € in Millions | Jun. 30, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Dec. 31, 2017 |
Share capital and share premium | ||||
Share capital | € 39 | € 39 | ||
Share premium | 17,077 | 17,050 | ||
Total share capital and share premium | 17,116 | 17,088 | ||
Disclosure of financial assets [line items] | ||||
Revaluation reserve: Cash flow hedge | 1,434 | 604 | ||
Revaluation reserve: credit liability | (82) | 8 | ||
Revaluation reserve: Property in own use | 233 | 204 | ||
Revaluation reserves | 3,741 | 3,130 | ||
Net defined benefit asset/liability remeasurement reserve | (418) | (394) | ||
Currency translation reserve | (2,165) | (2,043) | ||
- Share of associates and joint ventures and other reserves | 3,067 | 2,940 | ||
Treasury shares | (8) | (11) | ||
Total other reserves | 4,218 | 3,621 | ||
Retained earnings | 28,528 | 28,339 | ||
Shareholders' equity (parent) | 49,862 | 49,049 | ||
Non-controlling interests | 862 | 803 | ||
Total equity | 50,723 | 49,851 | € 48,732 | € 48,136 |
Debt instruments at FVOCI [Member] | ||||
Disclosure of financial assets [line items] | ||||
Revaluation reserves: financial assets | 364 | 398 | ||
Equity securities at FVOCI [Member] | ||||
Disclosure of financial assets [line items] | ||||
Revaluation reserves: financial assets | € 1,791 | € 1,914 |
Equity - Additional Information
Equity - Additional Information (Detail) - EUR (€) € in Millions | 3 Months Ended | 6 Months Ended |
Mar. 31, 2019 | Jun. 30, 2019 | |
Investment in Kotak Mahindra Bank [member] | ||
Transfer of revaluation reserve to retained earnings | € 320 | |
Reserve of cash flow hedges [member] | ||
Changes in equity | € 830 |
Net Interest Income - Summary o
Net Interest Income - Summary of Net Interest Income (Detail) - EUR (€) € in Millions | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | |||
Net Interest Income [Abstract] | ||||
Interest income on loans | € 9,659 | € 9,218 | ||
Interest income on financial assets at fair value through OCI | 311 | 289 | ||
Interest income on financial assets at amortised cost | 359 | 398 | ||
Interest income on non-trading derivatives (hedge accounting) | 2,268 | 2,281 | ||
Negative interest on liabilities | 202 | 213 | ||
Interest income | 12,799 | 12,399 | ||
Interest income on financial assets at fair value through profit or loss | [1] | 1,006 | 733 | |
Interest income on non-trading derivatives (no hedge accounting) | 411 | 324 | ||
Interest income other | 16 | 17 | ||
Other interest income | 1,434 | 1,073 | ||
Total Interest income | 14,233 | 13,472 | ||
Interest expense on deposits from banks | 184 | 191 | ||
Interest expense on customer deposits | 1,482 | 1,245 | ||
Interest expense on debt securities in issue | 1,239 | 1,059 | ||
Interest expense on subordinated loans | 324 | 368 | ||
Negative interest on assets | 186 | 189 | ||
Interest expense on non-trading derivatives (hedge accounting) | 2,466 | 2,383 | ||
Interest expense using effective interest rate method | 5,880 | 5,435 | ||
Interest expense on financial liabilities at fair value through profit or loss | [1] | 892 | 662 | |
Interest expense on non-trading derivatives (no hedge accounting) | 525 | 495 | ||
Interest expense other | 41 | 19 | ||
Other interest expense | 1,457 | 1,177 | [2] | |
Interest expense | 7,337 | 6,612 | ||
Net interest income | € 6,896 | 6,860 | ||
Additional Infomration [abstract] | ||||
Relcasification adjustment from other interest income to other interest expense | € 378 | |||
[1] | Includes a reclassification of EUR 378 million in the six month period to 30 June 2018 , from Other interest income to Other interest expense, to align the current gross presentation of Other interest income and Other interest expense that was previously netted | |||
[2] | Includes a reclassification of EUR 378 million in the six month period to 30 June 2018, from Other interest income to Other interest expense, to align with the current gross presentation of Other interest income and Other interest expense that was previously netted. |
Net Fee and commission Income -
Net Fee and commission Income - Schedule of Fee and Commission Income (Detail) - EUR (€) € in Millions | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Fee and commission income [abstract] | ||
Funds transfer | € 736 | € 647 |
Securities business | 316 | 304 |
Insurance broking | 91 | 87 |
Asset management fees | 97 | 63 |
Brokerage and advisory fees | 278 | 270 |
Other | 648 | 665 |
Total Fee and commission income | € 2,164 | € 2,037 |
Net Fee and commission Income_2
Net Fee and commission Income - Schedule of Fee and Commission Expense (Detail) - EUR (€) € in Millions | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Fee and commission expense [abstract] | ||
Funds transfer | € 321 | € 265 |
Securities business | 95 | 87 |
Insurance broking | 1 | 1 |
Asset management fees | 4 | 2 |
Brokerage and advisory fees | 129 | 105 |
Other | 229 | 201 |
Total fee and commission expenses | € 778 | € 660 |
Net Fee and commission Income_3
Net Fee and commission Income - Additional Information (Detail) - EUR (€) € in Millions | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Other | € 648 | € 665 |
Commission fees for Bank Guarantees [Member] | ||
Other | 103 | 104 |
Underwriting syndication loans [Member] | ||
Other | 6 | 3 |
Structured finance fees [Member] | ||
Other | 76 | 67 |
Collective instruments distribution fee and commission income [Member] | ||
Other | € 80 | € 97 |
Other income (Details)
Other income (Details) - EUR (€) € in Millions | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | ||
Other income [abstract] | |||
Share of result from associates and joint ventures | € 19 | € 48 | |
Result on disposal of group companies | 117 | ||
Other | 160 | 103 | |
Other income | [1] | € 296 | € 151 |
[1] | Other income includes Result from associates and joint ventures, Net operating lease income, Net result on derecognition of financial assets at amortised cost, and Other. |
Other Income - Additional Infor
Other Income - Additional Information (Detail) - EUR (€) | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | ||
Disclosure of analysis of other comprehensive income by item [line items] | |||
Other income | [1] | € 296,000,000 | € 151,000,000 |
Other income | 79,000,000 | ||
Foreign exchange gain | € 119,000,000 | ||
[1] | Other income includes Result from associates and joint ventures, Net operating lease income, Net result on derecognition of financial assets at amortised cost, and Other. |
Staff expenses - Summary of Sta
Staff expenses - Summary of Staff Expenses (Detail) - EUR (€) € in Millions | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Staff Expenses [Abstract] | ||
Salaries | € 1,741 | € 1,666 |
Pension costs and other staff-related benefit costs | 187 | 190 |
Social security costs | 265 | 261 |
Share-based compensation arrangements | 17 | 26 |
External employees | 469 | 439 |
Education | 31 | 41 |
Other staff costs | 100 | 100 |
Total staff expenses | € 2,811 | € 2,723 |
Other Operating Expenses - Summ
Other Operating Expenses - Summary of Other Operating Expenses (Detail) - EUR (€) € in Millions | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Summary of Other Operating Expenses [abstract] | ||
IT related expenses | € 365 | € 354 |
Office expenses | 158 | 276 |
Advertising and public relations | 190 | 200 |
Travel and accommodation expenses | 73 | 93 |
External advisory fees | 174 | 158 |
Audit and non-audit services | 12 | 11 |
Postal charges | 23 | 25 |
Depreciation of property and equipment | 273 | 155 |
Amortisation of intangible assets | 114 | 100 |
Impairments and reversals on property and equipment and intangibles | 9 | 7 |
Regulatory costs | 612 | 591 |
Addition/(unused amounts reversed) of provision for reorganisations and relocations | 44 | (20) |
Addition/(unused amounts reversed) of other provisions | 12 | (35) |
Contributions and subscriptions | 55 | 42 |
Other | 311 | 353 |
Other operating expense | € 2,427 | € 2,309 |
Other operating expenses - Addi
Other operating expenses - Additional Information (Detail) - Regulatory Cost [Member] - EUR (€) € in Millions | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Disclosure of other operating expenses [line items] | ||
Contributions to the Deposit Guarantee Schemes | € 202 | € 216 |
Contributions to the Single Resolution Fund | € 236 | € 209 |
Earnings Per Ordinary Share - S
Earnings Per Ordinary Share - Summary of Earnings Per Ordinary Share (Detail) - EUR (€) € / shares in Units, € in Millions, shares in Millions | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Amount | ||
Basic earnings | € 1,707 | € 2,605 |
Basic earnings from continuing operations, amount | 1,707 | 2,605 |
Diluted earnings, amount | 1,707 | 2,605 |
Diluted earnings from continuing operations, amount | € 1,707 | € 2,605 |
Weighted average number of ordinary shares outstanding during the period | ||
Basic earnings | 3,893.6 | 3,887.4 |
Stock option and share plans | 0.6 | 2.1 |
Total effect of dilutive instruments | 0.6 | 2.1 |
Diluted earnings | 3,894.2 | 3,889.5 |
Per ordinary share | ||
Basic earnings | € 0.44 | € 0.67 |
Basic earnings from continuing operations | 0.44 | 0.67 |
Diluted earnings | 0.44 | 0.67 |
Diluted earnings from continuing operations | € 0.44 | € 0.67 |
Dividend Per Ordinary Share - S
Dividend Per Ordinary Share - Schedule of Dividends to Shareholders of the Parent (Detail) - EUR (€) € / shares in Units, € in Millions | 1 Months Ended | 6 Months Ended | 12 Months Ended | |||
May 31, 2019 | Aug. 31, 2018 | May 31, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Disclosure of Dividends [abstract] | ||||||
Dividend per ordinary share paid | € 0.44 | € 0.24 | € 0.43 | € 0.68 | ||
Dividends paid | € 1,714 | € 934 | € 1,673 | € 2,648 | ||
Dividends per ordinary share | € 0.24 | € 0.24 | ||||
Dividends | € 935 |
Dividend Per Ordinary Share - A
Dividend Per Ordinary Share - Additional Information (Detail) - € / shares | 1 Months Ended | 6 Months Ended | 12 Months Ended | ||
May 31, 2019 | Aug. 31, 2018 | May 31, 2018 | Jun. 30, 2019 | Dec. 31, 2018 | |
Disclosure of Dividends [abstract] | |||||
Withholding tax on dividends paid, ordinary shares | 15.00% | ||||
Dividend per ordinary share paid | € 0.44 | € 0.24 | € 0.43 | € 0.68 |
Segments - Summary of Reconcili
Segments - Summary of Reconciliation Between Underlying and IFRS Income, Expenses and Net Result (Detail) - EUR (€) € in Millions | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Disclosure of operating segments [line items] | ||
Income | € 8,148 | € 8,883 |
Taxation | 740 | 995 |
Non-controlling interests | 47 | 51 |
Net result | 1,707 | 2,605 |
Insurance Other Excluded From IFRS [Member] | ||
Disclosure of operating segments [line items] | ||
Income | 18 | |
Net result | 19 | |
Adjustment of the EU IAS 39 carve out [Member] | ||
Disclosure of operating segments [line items] | ||
Income | 1,093 | 75 |
Taxation | 243 | 26 |
Net result | 850 | 50 |
Underlying Results Excluding Adjustments From IFRS [Member] | ||
Disclosure of operating segments [line items] | ||
Income | 9,241 | 8,940 |
Expenses | 5,654 | 5,232 |
Taxation | 983 | 1,021 |
Non-controlling interests | 47 | 51 |
Net result | 2,556 | 2,636 |
Continuing operations [member] | ||
Disclosure of operating segments [line items] | ||
Income | 8,148 | 8,883 |
Expenses | 5,654 | 5,232 |
Taxation | 740 | 995 |
Non-controlling interests | 47 | 51 |
Net result | € 1,707 | € 2,605 |
Segments - Schedule of ING Grou
Segments - Schedule of ING Group Total (Detail) - EUR (€) € in Millions | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Underlying income | ||
- Net interest income | € 6,896 | € 6,860 |
- Net fee and commission income | 1,386 | 1,377 |
Total Income | 8,148 | 8,883 |
Underlying expenditure | ||
- Additions to loan loss provision | 416 | 200 |
Total expenses | 5,654 | 5,232 |
Result before tax | 2,493 | 3,651 |
Taxation | 740 | 995 |
Non-controlling interests | 47 | 51 |
Net result | 1,707 | 2,605 |
Net result IFRS (continuing operations) | 1,754 | 2,656 |
Underlying [member] | ||
Underlying income | ||
Total Income | 9,241 | 8,940 |
Underlying expenditure | ||
- Operating expenses | 5,654 | 5,232 |
Taxation | 983 | 1,021 |
Non-controlling interests | 47 | 51 |
Net result | 2,556 | 2,636 |
Insurance other [member] | ||
Underlying income | ||
Total Income | 18 | |
Underlying expenditure | ||
Net result | 19 | |
Adjustment of the EU IAS 39 carve out [Member] | ||
Underlying income | ||
Total Income | 1,093 | 75 |
Underlying expenditure | ||
Taxation | 243 | 26 |
Net result | 850 | 50 |
ING Group [member] | ||
Underlying expenditure | ||
Net result | 1,707 | 2,605 |
Net result IFRS (continuing operations) | 2,605 | |
ING Group [member] | Underlying [member] | ||
Underlying income | ||
- Net interest income | 6,953 | 6,845 |
- Net fee and commission income | 1,386 | 1,378 |
- Total investment and other income | 902 | 717 |
Total Income | 9,241 | 8,940 |
Underlying expenditure | ||
- Operating expenses | 5,238 | 5,032 |
- Additions to loan loss provision | 416 | 200 |
Total expenses | 5,654 | 5,232 |
Result before tax | 3,586 | 3,708 |
Taxation | 983 | 1,021 |
Non-controlling interests | 47 | 51 |
Net result | 2,556 | 2,636 |
ING Group [member] | Special items [member] | ||
Underlying expenditure | ||
Net result | 0 | |
ING Group [member] | Insurance other [member] | ||
Underlying expenditure | ||
Net result | 0 | 19 |
ING Group [member] | Adjustment of the EU IAS 39 carve out [Member] | ||
Underlying expenditure | ||
Net result | (850) | (50) |
ING Group [member] | ING Bank N.V. [member] | ||
Underlying expenditure | ||
Net result | 1,739 | 2,587 |
Net result IFRS (continuing operations) | 2,587 | |
ING Group [member] | ING Bank N.V. [member] | Underlying [member] | ||
Underlying income | ||
- Net interest income | 6,950 | 6,864 |
- Net fee and commission income | 1,386 | 1,379 |
- Total investment and other income | 896 | 711 |
Total Income | 9,232 | 8,953 |
Underlying expenditure | ||
- Operating expenses | 5,226 | 5,040 |
- Additions to loan loss provision | 416 | 200 |
Total expenses | 5,643 | 5,240 |
Result before tax | 3,590 | 3,713 |
Taxation | 954 | 1,026 |
Non-controlling interests | 47 | 51 |
Net result | 2,589 | 2,636 |
ING Group [member] | ING Bank N.V. [member] | Divestments [member] | ||
Underlying expenditure | ||
Net result IFRS (continuing operations) | 0 | |
ING Group [member] | ING Bank N.V. [member] | Special items [member] | ||
Underlying expenditure | ||
Net result | 0 | |
ING Group [member] | ING Bank N.V. [member] | Adjustment of the EU IAS 39 carve out [Member] | ||
Underlying expenditure | ||
Net result | (850) | (50) |
ING Group [member] | Other banking [member] | ||
Underlying expenditure | ||
Net result | (32) | (1) |
Net result IFRS (continuing operations) | (1) | |
ING Group [member] | Other banking [member] | Underlying [member] | ||
Underlying income | ||
- Net interest income | 3 | (19) |
- Net fee and commission income | 0 | 0 |
- Total investment and other income | 6 | 6 |
Total Income | 9 | (13) |
Underlying expenditure | ||
- Operating expenses | 12 | (7) |
- Additions to loan loss provision | 0 | 0 |
Total expenses | 12 | (7) |
Result before tax | (3) | (5) |
Taxation | 29 | (5) |
Net result | (32) | (1) |
ING Group [member] | Total Banking [member] | ||
Underlying expenditure | ||
Net result | 1,707 | 2,586 |
Net result IFRS (continuing operations) | 2,586 | |
ING Group [member] | Total Banking [member] | Underlying [member] | ||
Underlying income | ||
- Net interest income | 6,953 | 6,845 |
- Net fee and commission income | 1,386 | 1,378 |
- Total investment and other income | 902 | 717 |
Total Income | 9,241 | 8,940 |
Underlying expenditure | ||
- Operating expenses | 5,238 | 5,032 |
- Additions to loan loss provision | 416 | 200 |
Total expenses | 5,654 | 5,232 |
Result before tax | 3,586 | 3,708 |
Taxation | 983 | 1,021 |
Non-controlling interests | 47 | 51 |
Net result | 2,556 | 2,636 |
ING Group [member] | Total Banking [member] | Special items [member] | ||
Underlying expenditure | ||
Net result | 0 | |
ING Group [member] | Total Banking [member] | Adjustment of the EU IAS 39 carve out [Member] | ||
Underlying expenditure | ||
Net result | € (850) | (50) |
ING Group [member] | Legacy insurance [member] | ||
Underlying expenditure | ||
Net result | 19 | |
Net result IFRS (continuing operations) | 19 | |
ING Group [member] | Legacy insurance [member] | Insurance other [member] | ||
Underlying expenditure | ||
Net result | € 19 |
Segments - Summary of Segments
Segments - Summary of Segments Banking by Line of Business (Detail) - EUR (€) € in Millions | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Underlying income | ||
- Net interest income | € 6,896 | € 6,860 |
- Net fee and commission income | 1,386 | 1,377 |
Income | 8,148 | 8,883 |
Underlying expenditure | ||
- Additions to loan loss provision | 416 | 200 |
Total underlying expenses | 5,654 | 5,232 |
Result before tax | 2,493 | 3,651 |
Taxation | 740 | 995 |
Non-controlling interests | 47 | 51 |
Net result | 1,707 | 2,605 |
Net result IFRS (continuing operations) | 1,754 | 2,656 |
Underlying [member] | ||
Underlying income | ||
Income | 9,241 | 8,940 |
Underlying expenditure | ||
- Operating expenses | 5,654 | 5,232 |
Taxation | 983 | 1,021 |
Non-controlling interests | 47 | 51 |
Net result | 2,556 | 2,636 |
Adjustment of the EU IAS 39 carve out [Member] | ||
Underlying income | ||
Income | 1,093 | 75 |
Underlying expenditure | ||
Taxation | 243 | 26 |
Net result | 850 | 50 |
Insurance Other Excluded From IFRS [Member] | ||
Underlying income | ||
Income | 18 | |
Underlying expenditure | ||
Net result | 19 | |
Segments Banking Activities [Member] | ||
Underlying expenditure | ||
Net result | 1,707 | 2,586 |
Net result IFRS (continuing operations) | 1,707 | 2,605 |
Segments Banking Activities [Member] | Underlying [member] | ||
Underlying income | ||
- Net interest income | 6,953 | 6,845 |
- Net fee and commission income | 1,386 | 1,378 |
- Total investment and other income | 902 | 717 |
Income | 9,241 | 8,940 |
Underlying expenditure | ||
- Operating expenses | 5,238 | 5,032 |
- Additions to loan loss provision | 416 | 200 |
Total underlying expenses | 5,654 | 5,232 |
Result before tax | 3,586 | 3,708 |
Taxation | 983 | 1,021 |
Non-controlling interests | 47 | 51 |
Net result | 2,556 | 2,636 |
Segments Banking Activities [Member] | Special items [member] | ||
Underlying expenditure | ||
Net result | 0 | |
Segments Banking Activities [Member] | Adjustment of the EU IAS 39 carve out [Member] | ||
Underlying expenditure | ||
Net result | (850) | (50) |
Segments Banking Activities [Member] | Insurance Other Excluded From IFRS [Member] | ||
Underlying expenditure | ||
Net result | 0 | 19 |
Retail Netherlands [member] | Segments Banking Activities [Member] | ||
Underlying expenditure | ||
Net result | 845 | 1,026 |
Retail Netherlands [member] | Segments Banking Activities [Member] | Underlying [member] | ||
Underlying income | ||
- Net interest income | 1,740 | 1,883 |
- Net fee and commission income | 329 | 325 |
- Total investment and other income | 190 | 192 |
Income | 2,260 | 2,401 |
Underlying expenditure | ||
- Operating expenses | 1,095 | 1,104 |
- Additions to loan loss provision | 33 | (65) |
Total underlying expenses | 1,128 | 1,039 |
Result before tax | 1,132 | 1,362 |
Taxation | 287 | 335 |
Net result | 845 | 1,026 |
Retail Netherlands [member] | Dutch domestic midcorporates real estate finance portfolio [Member] | Underlying [member] | ||
Underlying income | ||
- Net interest income | 134 | |
Underlying expenditure | ||
- Operating expenses | 26 | |
- Additions to loan loss provision | (14) | |
Taxation | 29 | |
Net result | 94 | |
Retail Belgium [member] | Segments Banking Activities [Member] | ||
Underlying expenditure | ||
Net result | 229 | 153 |
Retail Belgium [member] | Segments Banking Activities [Member] | Underlying [member] | ||
Underlying income | ||
- Net interest income | 959 | 898 |
- Net fee and commission income | 188 | 201 |
- Total investment and other income | 112 | 114 |
Income | 1,259 | 1,213 |
Underlying expenditure | ||
- Operating expenses | 873 | 903 |
- Additions to loan loss provision | 58 | 78 |
Total underlying expenses | 931 | 982 |
Result before tax | 328 | 231 |
Taxation | 100 | 71 |
Non-controlling interests | 0 | 6 |
Net result | 229 | 153 |
Retail Germany [member] | Segments Banking Activities [Member] | ||
Underlying expenditure | ||
Net result | 295 | 285 |
Retail Germany [member] | Segments Banking Activities [Member] | Underlying [member] | ||
Underlying income | ||
- Net interest income | 796 | 857 |
- Net fee and commission income | 123 | 93 |
- Total investment and other income | 86 | 10 |
Income | 1,005 | 960 |
Underlying expenditure | ||
- Operating expenses | 579 | 524 |
- Additions to loan loss provision | (23) | 13 |
Total underlying expenses | 556 | 537 |
Result before tax | 449 | 423 |
Taxation | 153 | 137 |
Non-controlling interests | 1 | 1 |
Net result | 295 | 285 |
Retail Other [member] | Segments Banking Activities [Member] | ||
Underlying expenditure | ||
Net result | 278 | 308 |
Retail Other [member] | Segments Banking Activities [Member] | Underlying [member] | ||
Underlying income | ||
- Net interest income | 1,374 | 1,310 |
- Net fee and commission income | 212 | 212 |
- Total investment and other income | 100 | 61 |
Income | 1,687 | 1,583 |
Underlying expenditure | ||
- Operating expenses | 1,061 | 1,001 |
- Additions to loan loss provision | 187 | 121 |
Total underlying expenses | 1,248 | 1,122 |
Result before tax | 438 | 460 |
Taxation | 123 | 116 |
Non-controlling interests | 38 | 36 |
Net result | 278 | 308 |
Wholesale Banking [member] | Segments Banking Activities [Member] | ||
Underlying expenditure | ||
Net result | (49) | 918 |
Wholesale Banking [member] | Segments Banking Activities [Member] | Underlying [member] | ||
Underlying income | ||
- Net interest income | 1,831 | 1,793 |
- Net fee and commission income | 538 | 548 |
- Total investment and other income | 248 | 389 |
Income | 2,618 | 2,730 |
Underlying expenditure | ||
- Operating expenses | 1,438 | 1,360 |
- Additions to loan loss provision | 162 | 53 |
Total underlying expenses | 1,600 | 1,413 |
Result before tax | 1,018 | 1,317 |
Taxation | 209 | 341 |
Non-controlling interests | 8 | 8 |
Net result | 801 | 968 |
Wholesale Banking [member] | Segments Banking Activities [Member] | Adjustment of the EU IAS 39 carve out [Member] | ||
Underlying expenditure | ||
Net result | (850) | (50) |
Corporate Line Banking [member] | Segments Banking Activities [Member] | ||
Underlying expenditure | ||
Net result | 109 | (105) |
Corporate Line Banking [member] | Segments Banking Activities [Member] | Underlying [member] | ||
Underlying income | ||
- Net interest income | 253 | 105 |
- Net fee and commission income | (6) | (1) |
- Total investment and other income | 166 | (49) |
Income | 413 | 54 |
Underlying expenditure | ||
- Operating expenses | 192 | 139 |
- Additions to loan loss provision | 0 | 0 |
Total underlying expenses | 192 | 139 |
Result before tax | 221 | (85) |
Taxation | 112 | 21 |
Net result | 109 | € (105) |
Corporate Line Banking [member] | Segments Banking Activities [Member] | Special items [member] | ||
Underlying expenditure | ||
Net result | € 0 |
Segments - Summary of Geographi
Segments - Summary of Geographical Segments Banking (Detail) - EUR (€) € in Millions | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Underlying income | ||
- Net interest income | € 6,896 | € 6,860 |
- Net fee and commission income | 1,386 | 1,377 |
Total income | 8,148 | 8,883 |
Underlying expenditure | ||
- Additions to loan loss provision | 416 | 200 |
Total underlying expenses | 5,654 | 5,232 |
Result before tax | 2,493 | 3,651 |
Taxation | 740 | 995 |
Non-controlling interests | 47 | 51 |
Net result | 1,707 | 2,605 |
Net result IFRS (continuing operations) | 1,754 | 2,656 |
Underlying [member] | ||
Underlying income | ||
Total income | 9,241 | 8,940 |
Underlying expenditure | ||
- Operating expenses | 5,654 | 5,232 |
Taxation | 983 | 1,021 |
Non-controlling interests | 47 | 51 |
Net result | 2,556 | 2,636 |
Insurance Other Excluded From IFRS [Member] | ||
Underlying income | ||
Total income | 18 | |
Underlying expenditure | ||
Net result | 19 | |
Adjustment of the EU IAS 39 carve out [Member] | ||
Underlying income | ||
Total income | 1,093 | 75 |
Underlying expenditure | ||
Taxation | 243 | 26 |
Net result | 850 | 50 |
Geographical Segments Banking [Member] | ||
Underlying expenditure | ||
Net result | 1,707 | 2,605 |
Net result IFRS (continuing operations) | 2,605 | |
Geographical Segments Banking [Member] | Underlying [member] | ||
Underlying income | ||
- Net interest income | 6,953 | 6,845 |
- Net fee and commission income | 1,386 | 1,378 |
- Total investment and other income | 902 | 717 |
Total income | 9,241 | 8,940 |
Underlying expenditure | ||
- Operating expenses | 5,238 | 5,032 |
- Additions to loan loss provision | 416 | 200 |
Total underlying expenses | 5,654 | 5,232 |
Result before tax | 3,586 | 3,708 |
Taxation | 983 | 1,021 |
Non-controlling interests | 47 | 51 |
Net result | 2,556 | 2,636 |
Geographical Segments Banking [Member] | Special items [member] | ||
Underlying expenditure | ||
Net result | 0 | |
Geographical Segments Banking [Member] | Insurance Other Excluded From IFRS [Member] | ||
Underlying expenditure | ||
Net result | 0 | 19 |
Geographical Segments Banking [Member] | Adjustment of the EU IAS 39 carve out [Member] | ||
Underlying expenditure | ||
Net result | (850) | (50) |
Geographical Segments Banking [Member] | Netherlands [member] | ||
Underlying expenditure | ||
Net result | 404 | 1,268 |
Net result IFRS (continuing operations) | 1,268 | |
Geographical Segments Banking [Member] | Netherlands [member] | Underlying [member] | ||
Underlying income | ||
- Net interest income | 2,061 | 2,273 |
- Net fee and commission income | 487 | 471 |
- Total investment and other income | 90 | 217 |
Total income | 2,638 | 2,960 |
Underlying expenditure | ||
- Operating expenses | 1,472 | 1,454 |
- Additions to loan loss provision | 78 | (111) |
Total underlying expenses | 1,550 | 1,343 |
Result before tax | 1,088 | 1,617 |
Taxation | 271 | 398 |
Non-controlling interests | 0 | |
Net result | 817 | 1,219 |
Geographical Segments Banking [Member] | Netherlands [member] | Special items [member] | ||
Underlying expenditure | ||
Net result | 0 | |
Geographical Segments Banking [Member] | Netherlands [member] | Adjustment of the EU IAS 39 carve out [Member] | ||
Underlying expenditure | ||
Net result | (413) | 49 |
Geographical Segments Banking [Member] | Belgium [member] | ||
Underlying expenditure | ||
Net result | 16 | 235 |
Net result IFRS (continuing operations) | 235 | |
Geographical Segments Banking [Member] | Belgium [member] | Underlying [member] | ||
Underlying income | ||
- Net interest income | 1,112 | 1,048 |
- Net fee and commission income | 270 | 253 |
- Total investment and other income | 177 | 200 |
Total income | 1,558 | 1,500 |
Underlying expenditure | ||
- Operating expenses | 1,025 | 1,053 |
- Additions to loan loss provision | 99 | 67 |
Total underlying expenses | 1,124 | 1,120 |
Result before tax | 435 | 380 |
Taxation | 132 | 103 |
Non-controlling interests | 0 | 6 |
Net result | 303 | 270 |
Geographical Segments Banking [Member] | Belgium [member] | Special items [member] | ||
Underlying expenditure | ||
Net result | 0 | |
Geographical Segments Banking [Member] | Belgium [member] | Adjustment of the EU IAS 39 carve out [Member] | ||
Underlying expenditure | ||
Net result | (287) | (35) |
Geographical Segments Banking [Member] | Germany [member] | ||
Underlying expenditure | ||
Net result | 294 | 344 |
Net result IFRS (continuing operations) | 344 | |
Geographical Segments Banking [Member] | Germany [member] | Underlying [member] | ||
Underlying income | ||
- Net interest income | 1,060 | 1,117 |
- Net fee and commission income | 142 | 117 |
- Total investment and other income | 108 | 13 |
Total income | 1,310 | 1,248 |
Underlying expenditure | ||
- Operating expenses | 654 | 594 |
- Additions to loan loss provision | (32) | 51 |
Total underlying expenses | 622 | 645 |
Result before tax | 689 | 603 |
Taxation | 233 | 204 |
Non-controlling interests | 1 | 1 |
Net result | 454 | 398 |
Geographical Segments Banking [Member] | Germany [member] | Special items [member] | ||
Underlying expenditure | ||
Net result | 0 | |
Geographical Segments Banking [Member] | Germany [member] | Adjustment of the EU IAS 39 carve out [Member] | ||
Underlying expenditure | ||
Net result | (160) | (53) |
Geographical Segments Banking [Member] | Other Challengers [member] | ||
Underlying expenditure | ||
Net result | 211 | 222 |
Net result IFRS (continuing operations) | 222 | |
Geographical Segments Banking [Member] | Other Challengers [member] | Underlying [member] | ||
Underlying income | ||
- Net interest income | 885 | 847 |
- Net fee and commission income | 142 | 129 |
- Total investment and other income | 5 | 16 |
Total income | 1,032 | 991 |
Underlying expenditure | ||
- Operating expenses | 638 | 584 |
- Additions to loan loss provision | 92 | 67 |
Total underlying expenses | 730 | 651 |
Result before tax | 302 | 341 |
Taxation | 101 | 109 |
Net result | 201 | 231 |
Geographical Segments Banking [Member] | Other Challengers [member] | Special items [member] | ||
Underlying expenditure | ||
Net result | 0 | |
Geographical Segments Banking [Member] | Other Challengers [member] | Adjustment of the EU IAS 39 carve out [Member] | ||
Underlying expenditure | ||
Net result | 10 | (10) |
Geographical Segments Banking [Member] | Growth Markets [member] | ||
Underlying expenditure | ||
Net result | 240 | 261 |
Net result IFRS (continuing operations) | 261 | |
Geographical Segments Banking [Member] | Growth Markets [member] | Underlying [member] | ||
Underlying income | ||
- Net interest income | 799 | 785 |
- Net fee and commission income | 152 | 164 |
- Total investment and other income | 160 | 120 |
Total income | 1,110 | 1,069 |
Underlying expenditure | ||
- Operating expenses | 608 | 596 |
- Additions to loan loss provision | 130 | 85 |
Total underlying expenses | 738 | 681 |
Result before tax | 372 | 389 |
Taxation | 85 | 83 |
Non-controlling interests | 46 | 44 |
Net result | 240 | 261 |
Geographical Segments Banking [Member] | Growth Markets [member] | Special items [member] | ||
Underlying expenditure | ||
Net result | 0 | |
Geographical Segments Banking [Member] | Wholesale Banking Rest Of World [member] | ||
Underlying expenditure | ||
Net result | 436 | 365 |
Net result IFRS (continuing operations) | 365 | |
Geographical Segments Banking [Member] | Wholesale Banking Rest Of World [member] | Underlying [member] | ||
Underlying income | ||
- Net interest income | 788 | 673 |
- Net fee and commission income | 201 | 246 |
- Total investment and other income | 190 | 197 |
Total income | 1,180 | 1,117 |
Underlying expenditure | ||
- Operating expenses | 648 | 606 |
- Additions to loan loss provision | 49 | 41 |
Total underlying expenses | 698 | 647 |
Result before tax | 482 | 470 |
Taxation | 47 | 105 |
Net result | 436 | 365 |
Geographical Segments Banking [Member] | Wholesale Banking Rest Of World [member] | Special items [member] | ||
Underlying expenditure | ||
Net result | 0 | |
Geographical Segments Banking [Member] | Other [member] | ||
Underlying expenditure | ||
Net result | 106 | (91) |
Net result IFRS (continuing operations) | (91) | |
Geographical Segments Banking [Member] | Other [member] | Underlying [member] | ||
Underlying income | ||
- Net interest income | 247 | 102 |
- Net fee and commission income | (6) | (1) |
- Total investment and other income | 172 | (46) |
Total income | 413 | 54 |
Underlying expenditure | ||
- Operating expenses | 193 | 146 |
- Additions to loan loss provision | 0 | 0 |
Total underlying expenses | 193 | 146 |
Result before tax | 219 | (91) |
Taxation | 113 | 18 |
Net result | 106 | (109) |
Geographical Segments Banking [Member] | Other [member] | Special items [member] | ||
Underlying expenditure | ||
Net result | 0 | |
Geographical Segments Banking [Member] | Other [member] | Insurance Other Excluded From IFRS [Member] | ||
Underlying expenditure | ||
Net result | € 0 | € 19 |
Fair Value of Assets and Liab_3
Fair Value of Assets and Liabilities - Fair value of financial assets and liabilities (Detail) - EUR (€) € in Millions | Jun. 30, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Dec. 31, 2017 |
Financial assets | ||||
Cash and balances with central banks | € 52,171 | € 49,987 | € 38,276 | |
Loans and advances to banks | 34,584 | 30,422 | ||
Financial assets at fair value through profit or loss | ||||
- Trading assets | 54,212 | 50,152 | ||
- Non-trading derivatives | 2,397 | 2,664 | ||
- Assets mandatorily as at fair value through profit or loss | 59,376 | 64,783 | ||
- Assets designated as at fair value through profit or loss | 2,944 | 2,887 | ||
Financial assets at fair value through other comprehensive income [abstract] | ||||
Financial assets at fair value through other comprehensive income | 31,294 | 31,223 | ||
Loans and advances to customers | 607,081 | 589,653 | ||
Securities at amortised cost | 45,970 | 47,276 | ||
Other assets | 10,136 | 7,397 | ||
Total | 900,164 | 876,444 | ||
Financial liabilities | ||||
Deposits from banks | 38,095 | 37,330 | ||
Customer deposits | 571,001 | 555,729 | ||
Financial liabilities at fair value through profit or loss | ||||
- Trading liabilities | 33,575 | 31,215 | ||
- Non-tradingderivatives | 2,381 | 2,299 | ||
- designated as at fair value through profit or loss | 63,492 | 59,179 | ||
Other liabilities | 13,336 | 12,117 | ||
Debt securities in issue | 118,929 | 119,751 | ||
Subordinated loans | 14,205 | 13,724 | € 15,968 | |
Total | 855,013 | 831,345 | ||
Equity securities [member] | ||||
Financial assets at fair value through other comprehensive income [abstract] | ||||
Financial assets at fair value through other comprehensive income | 2,551 | 3,228 | ||
Debt securities [member] | ||||
Financial assets at fair value through other comprehensive income [abstract] | ||||
Financial assets at fair value through other comprehensive income | 26,776 | 25,616 | ||
Securities at amortised cost | 45,970 | 47,276 | ||
Total | 84,352 | 81,323 | ||
Loans And Advances [Member] | ||||
Financial assets at fair value through other comprehensive income [abstract] | ||||
Financial assets at fair value through other comprehensive income | 1,967 | 2,379 | ||
Securities [Member] | ||||
Financial assets at fair value through other comprehensive income [abstract] | ||||
Securities at amortised cost | 45,970 | 47,276 | ||
Estimated fair value [member] | ||||
Financial assets | ||||
Cash and balances with central banks | 52,171 | 49,987 | ||
Loans and advances to banks | 34,661 | 30,549 | ||
Financial assets at fair value through profit or loss | ||||
- Trading assets | 54,212 | 50,152 | ||
- Non-trading derivatives | 2,397 | 2,664 | ||
- Assets mandatorily as at fair value through profit or loss | 59,376 | 64,783 | ||
- Assets designated as at fair value through profit or loss | 2,944 | 2,887 | ||
Financial assets at fair value through other comprehensive income [abstract] | ||||
Loans and advances to customers | 622,964 | 602,841 | ||
Other assets | 10,136 | 7,397 | ||
Total | 917,006 | 890,299 | ||
Financial liabilities | ||||
Deposits from banks | 38,531 | 37,631 | ||
Customer deposits | 571,604 | 556,127 | ||
Financial liabilities at fair value through profit or loss | ||||
- Trading liabilities | 33,575 | 31,215 | ||
- Non-tradingderivatives | 2,381 | 2,299 | ||
- designated as at fair value through profit or loss | 63,492 | 59,179 | ||
Other liabilities | 13,336 | 12,117 | ||
Debt securities in issue | 120,190 | 119,893 | ||
Subordinated loans | 14,337 | 13,519 | ||
Total | 857,446 | 831,980 | ||
Estimated fair value [member] | Equity securities [member] | ||||
Financial assets at fair value through other comprehensive income [abstract] | ||||
Financial assets at fair value through other comprehensive income | 2,551 | 3,228 | ||
Estimated fair value [member] | Debt securities [member] | ||||
Financial assets at fair value through other comprehensive income [abstract] | ||||
Financial assets at fair value through other comprehensive income | 26,776 | 25,616 | ||
Estimated fair value [member] | Loans And Advances [Member] | ||||
Financial assets at fair value through other comprehensive income [abstract] | ||||
Financial assets at fair value through other comprehensive income | 1,967 | 2,379 | ||
Estimated fair value [member] | Securities [Member] | ||||
Financial assets at fair value through other comprehensive income [abstract] | ||||
Securities at amortised cost | € 46,851 | € 47,815 |
Fair Value of Assets and Liab_4
Fair Value of Assets and Liabilities - Methods applied in determining fair values of financial assets, liabilities (Detail) - EUR (€) € in Millions | Jun. 30, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
Financial assets | |||
- Trading assets | € 54,212 | € 50,152 | |
- Non-trading derivatives | 2,397 | 2,664 | |
- Assets mandatorily as at fair value through profit or loss | 59,376 | 64,783 | |
- Assets designated as at fair value through profit or loss | 2,944 | 2,887 | |
Financial assets at fair value through other comprehensive income | 31,294 | 31,223 | |
Fair value | 150,222 | 151,709 | |
Financial liabilities | |||
Trading liabilities | 33,575 | 31,215 | |
Non-trading derivatives | 2,381 | 2,299 | |
Financial liabilities designated as at fair value through profit or loss | 63,492 | 59,179 | |
Fair value | 99,448 | 92,693 | |
Level 1 [member] | |||
Financial assets | |||
- Trading assets | 15,426 | 13,041 | |
- Non-trading derivatives | 17 | ||
- Assets mandatorily as at fair value through profit or loss | 85 | 141 | |
- Assets designated as at fair value through profit or loss | 257 | 147 | |
Financial assets at fair value through other comprehensive income | 28,383 | 27,218 | |
Fair value | 44,167 | 40,547 | |
Financial liabilities | |||
Trading liabilities | 4,387 | 5,706 | |
Non-trading derivatives | 1 | ||
Financial liabilities designated as at fair value through profit or loss | 1,265 | 1,166 | |
Fair value | 5,653 | 6,872 | |
Level 2 [member] | |||
Financial assets | |||
- Trading assets | 38,590 | 36,617 | |
- Non-trading derivatives | 2,359 | 2,636 | |
- Assets mandatorily as at fair value through profit or loss | 58,165 | 63,601 | |
- Assets designated as at fair value through profit or loss | 1,703 | 1,665 | |
Financial assets at fair value through other comprehensive income | 497 | 1,256 | |
Fair value | 101,314 | 105,775 | |
Financial liabilities | |||
Trading liabilities | 29,029 | 25,387 | |
Non-trading derivatives | 2,316 | 2,219 | |
Financial liabilities designated as at fair value through profit or loss | 61,477 | 57,305 | |
Fair value | 92,822 | 84,911 | |
Level 3 [member] | |||
Financial assets | |||
- Trading assets | 197 | 494 | |
- Non-trading derivatives | 20 | 27 | |
- Assets mandatorily as at fair value through profit or loss | 1,125 | 1,042 | |
- Assets designated as at fair value through profit or loss | 984 | 1,075 | |
Financial assets at fair value through other comprehensive income | 2,415 | 2,749 | |
Fair value | 4,741 | 5,387 | € 2,034 |
Financial liabilities | |||
Trading liabilities | 159 | 122 | |
Non-trading derivatives | 65 | 80 | |
Financial liabilities designated as at fair value through profit or loss | 750 | 708 | |
Fair value | € 973 | € 910 | € 1,242 |
Fair Value of Assets and Liab_5
Fair Value of Assets and Liabilities - Changes in Level 3 Financial Assets (Detail) - EUR (€) € in Millions | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Disclosure of fair value measurement of assets [line items] | |||
Opening balance | € 151,709 | ||
Closing balance | 150,222 | € 151,709 | |
Level 3 [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Opening balance | 5,387 | € 2,034 | 2,034 |
Effect of changes in accounting policies | 5,097 | ||
Realised gain/loss recognised in the statement of profit or loss during the period | (35) | 45 | |
Revaluation recognised in other comprehensive income during the period | 125 | (131) | |
Purchase of assets | 630 | 2,331 | |
Sale of assets | (1,061) | (2,521) | |
Maturity/settlement | (185) | (450) | |
Reclassifications | 3 | 2 | |
Transfers into Level 3 | 53 | 85 | |
Transfers out of Level 3 | (179) | (1,125) | |
Exchange rate differences | 2 | 20 | |
Changes in the composition of the group and other changes | 1 | (1) | |
Closing balance | 4,741 | 5,387 | |
Level 3 [member] | Mandatorily measured at fair value through profit or loss [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Opening balance | 1,042 | ||
Effect of changes in accounting policies | 1,653 | ||
Realised gain/loss recognised in the statement of profit or loss during the period | (22) | 10 | |
Purchase of assets | 591 | 1,154 | |
Sale of assets | (706) | (1,677) | |
Maturity/settlement | (18) | (78) | |
Reclassifications | 282 | ||
Transfers into Level 3 | 16 | ||
Transfers out of Level 3 | (60) | (37) | |
Exchange rate differences | 17 | ||
Changes in the composition of the group and other changes | 1 | ||
Closing balance | 1,125 | 1,042 | |
Level 3 [member] | Financial assets at FVPL [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Opening balance | 1,075 | 365 | 365 |
Effect of changes in accounting policies | (1) | ||
Realised gain/loss recognised in the statement of profit or loss during the period | (21) | (20) | |
Purchase of assets | 731 | ||
Sale of assets | (17) | ||
Maturity/settlement | (53) | ||
Closing balance | 984 | 1,075 | |
Level 3 [member] | Financial assets at FVOCI [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Opening balance | 2,749 | 480 | 480 |
Effect of changes in accounting policies | 3,446 | ||
Realised gain/loss recognised in the statement of profit or loss during the period | (6) | 1 | |
Revaluation recognised in other comprehensive income during the period | 125 | (131) | |
Purchase of assets | 9 | 85 | |
Sale of assets | (302) | (557) | |
Maturity/settlement | (108) | (330) | |
Reclassifications | 2 | ||
Transfers out of Level 3 | (53) | (249) | |
Exchange rate differences | 1 | 3 | |
Changes in the composition of the group and other changes | (1) | ||
Closing balance | 2,415 | 2,749 | |
Level 3 [member] | Trading assets [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Opening balance | 494 | 1,104 | 1,104 |
Realised gain/loss recognised in the statement of profit or loss during the period | 25 | (54) | |
Purchase of assets | 30 | 359 | |
Sale of assets | (35) | (120) | |
Maturity/settlement | (6) | (42) | |
Reclassifications | (279) | ||
Transfers into Level 3 | 32 | 85 | |
Transfers out of Level 3 | (66) | (839) | |
Exchange rate differences | 1 | ||
Closing balance | 197 | 494 | |
Level 3 [member] | Non-trading derivatives [member] | |||
Disclosure of fair value measurement of assets [line items] | |||
Opening balance | 27 | € 85 | 85 |
Realised gain/loss recognised in the statement of profit or loss during the period | (10) | 109 | |
Purchase of assets | 2 | ||
Sale of assets | (2) | (166) | |
Transfers into Level 3 | 4 | ||
Closing balance | € 20 | € 27 |
Fair Value of Assets and Liab_6
Fair Value of Assets and Liabilities - Changes in Level 3 Financial liabilities (Detail) - EUR (€) € in Millions | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019 | Dec. 31, 2018 | |
Disclosure of fair value measurement of liabilities [line items] | ||
Opening balance | € 92,693 | |
Closing balance | 99,448 | € 92,693 |
Level 3 [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Opening balance | 910 | 1,242 |
Effect of changes in accounting policy | 4 | |
Realised gain/loss recognised in the statement of profit or loss during the period1,2 | 35 | (58) |
Issue of liabilities | 46 | 587 |
Early repayment of liabilities | (15) | (106) |
Maturity/settlement | (7) | (49) |
Transfers into Level 3 | 162 | 131 |
Transfers out of Level 3 | (157) | (844) |
Changes in the composition of the group and other changes | 2 | |
Closing balance | 973 | 910 |
Level 3 [member] | Trading liabilities [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Opening balance | 122 | 1,073 |
Realised gain/loss recognised in the statement of profit or loss during the period1,2 | 40 | (67) |
Issue of liabilities | 45 | 42 |
Early repayment of liabilities | (7) | (87) |
Maturity/settlement | (1) | (37) |
Transfers into Level 3 | 9 | 39 |
Transfers out of Level 3 | (49) | (844) |
Changes in the composition of the group and other changes | 2 | |
Closing balance | 159 | 122 |
Level 3 [member] | Non-trading derivatives liabilities [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Opening balance | 80 | 68 |
Effect of changes in accounting policy | 4 | |
Realised gain/loss recognised in the statement of profit or loss during the period1,2 | (15) | 8 |
Closing balance | 65 | 80 |
Level 3 [member] | Financial liabilities designated as at fair value through profit and loss [member] | ||
Disclosure of fair value measurement of liabilities [line items] | ||
Opening balance | 708 | 101 |
Realised gain/loss recognised in the statement of profit or loss during the period1,2 | 11 | 1 |
Issue of liabilities | 1 | 545 |
Early repayment of liabilities | (9) | (20) |
Maturity/settlement | (6) | (11) |
Transfers into Level 3 | 153 | 92 |
Transfers out of Level 3 | (109) | |
Closing balance | € 750 | € 708 |
Fair Value of Assets and Liab_7
Fair Value of Assets and Liabilities - Valuation Techniques and Range of Unobservable Inputs (Detail) € in Millions | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2019EUR (€) | Jun. 30, 2018 | Dec. 31, 2018EUR (€) | |
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Assets, at fair value through profit or loss | € 118,928 | € 120,486 | |
Liabilities, at fair value through profit or loss | 99,448 | 92,693 | |
Level 3 [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Assets, at fair value through profit or loss | 4,741 | 5,387 | |
Liabilities, at fair value through profit or loss | 973 | 910 | |
Level 3 [member] | Loans and advances [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Assets, at fair value through profit or loss | 840 | 1,047 | |
Liabilities, at fair value through profit or loss | 3 | 15 | |
Level 3 [member] | Reverse (Repos) [Member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Assets, at fair value through profit or loss | 429 | 481 | |
Liabilities, at fair value through profit or loss | 427 | 424 | |
Level 3 [member] | Structured notes [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Liabilities, at fair value through profit or loss | 322 | 284 | |
Level 3 [member] | Derivatives at rates [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Assets, at fair value through profit or loss | 28 | 57 | |
Liabilities, at fair value through profit or loss | 23 | 39 | |
Level 3 [member] | Derivatives at foreign exchange [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Assets, at fair value through profit or loss | 1 | ||
Liabilities, at fair value through profit or loss | 1 | ||
Level 3 [member] | Derivative at credit [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Assets, at fair value through profit or loss | 81 | 67 | |
Liabilities, at fair value through profit or loss | 117 | 86 | |
Level 3 [member] | Derivatives at equity [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Assets, at fair value through profit or loss | 43 | 68 | |
Liabilities, at fair value through profit or loss | 38 | 54 | |
Level 3 [member] | Other derivatives [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Assets, at fair value through profit or loss | 31 | 2 | |
Liabilities, at fair value through profit or loss | 41 | 5 | |
Level 3 [member] | Loan and advances at fair value through other comprehensive income [Member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Assets, at fair value through profit or loss | 1,967 | 2,379 | |
Level 3 [member] | Equity, at fair value through other comprehensive income [Member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Assets, at fair value through profit or loss | 447 | 317 | |
Level 3 [member] | Debt securities [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Assets, at fair value through profit or loss | 720 | 807 | |
Liabilities, at fair value through profit or loss | 3 | ||
Level 3 [member] | Equity securities [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Assets, at fair value through profit or loss | 154 | € 162 | |
Liabilities, at fair value through profit or loss | € 1 | ||
Level 3 [member] | Minimum [member] | Price (%) [member] | Loans and advances [member] | Price based [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, percentage | 0.00% | 1.00% | |
Level 3 [member] | Minimum [member] | Price (%) [member] | Loans and advances [member] | Present value techniques [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, percentage | 10000.00% | ||
Level 3 [member] | Minimum [member] | Price (%) [member] | Reverse (Repos) [Member] | Present value techniques [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, percentage | 4.00% | 3.00% | |
Level 3 [member] | Minimum [member] | Price (%) [member] | Structured notes [member] | Price based [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, percentage | 82.00% | 77.00% | |
Level 3 [member] | Minimum [member] | Price (%) [member] | Equity, at fair value through other comprehensive income [Member] | Price based [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, credit spread | 98.00% | ||
Level 3 [member] | Minimum [member] | Credit spread (BPS) [member] | Loans and advances [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, credit spread | 0.02% | 0.19% | |
Level 3 [member] | Minimum [member] | Credit spread (BPS) [member] | Derivatives at rates [member] | Present value techniques [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, credit spread | 0.46% | ||
Level 3 [member] | Minimum [member] | Credit spread (BPS) [member] | Derivative at credit [member] | Present value techniques [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, credit spread | 0.02% | 0.08% | |
Level 3 [member] | Minimum [member] | Credit spread (BPS) [member] | Derivative at credit [member] | Comparable transactions [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, credit spread | 0.02% | 0.08% | |
Level 3 [member] | Minimum [member] | Credit spread (BPS) [member] | Equity, at fair value through other comprehensive income [Member] | Present value techniques [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, credit spread | 2.97% | 3.22% | |
Level 3 [member] | Minimum [member] | FX Volatility (bps) [Member] | Derivatives at foreign exchange [member] | Option pricing model [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, credit spread | 0.04% | ||
Level 3 [member] | Minimum [member] | Equity volatility (%) [member] | Structured notes [member] | Option pricing model [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, percentage | 13.00% | 13.00% | |
Level 3 [member] | Minimum [member] | Equity volatility (%) [member] | Derivatives at equity [member] | Option pricing model [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, percentage | 4.00% | 4.00% | |
Level 3 [member] | Minimum [member] | Equity/FX correlation [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs,correlation | (0.8) | ||
Level 3 [member] | Minimum [member] | Equity/FX correlation [member] | Structured notes [member] | Option pricing model [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs,correlation | (0.5) | (0.7) | |
Level 3 [member] | Minimum [member] | Equity/FX correlation [member] | Derivatives at rates [member] | Option pricing model [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs,correlation | (0.5) | ||
Level 3 [member] | Minimum [member] | Equity/FX correlation [member] | Derivatives at equity [member] | Option pricing model [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs,correlation | (0.8) | (0.8) | |
Level 3 [member] | Minimum [member] | Dividend yield (%) [member] | Structured notes [member] | Option pricing model [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, percentage | 1.00% | 1.00% | |
Level 3 [member] | Minimum [member] | Dividend yield (%) [member] | Derivatives at equity [member] | Option pricing model [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, percentage | 0.00% | 0.00% | |
Level 3 [member] | Minimum [member] | Interest rate volatility (%) [member] | Structured notes [member] | Option pricing model [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, percentage | 49.00% | ||
Level 3 [member] | Minimum [member] | Interest rate volatility (%) [member] | Derivatives at rates [member] | Option pricing model [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, credit spread | 0.48% | 0.23% | |
Level 3 [member] | Minimum [member] | IR/IR correlation [Member] | Structured notes [member] | Option pricing model [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs,correlation | 0.8 | ||
Level 3 [member] | Minimum [member] | Implied correlation [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs,correlation | 0.7 | ||
Level 3 [member] | Minimum [member] | Implied correlation [member] | Structured notes [member] | Present value techniques [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs,correlation | (0.7) | ||
Level 3 [member] | Minimum [member] | Implied correlation [member] | Derivative at credit [member] | Present value techniques [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs,correlation | 0.7 | ||
Level 3 [member] | Minimum [member] | Interest rate correlation [member] | Derivatives at rates [member] | Option pricing model [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs,correlation | 0.8 | ||
Level 3 [member] | Minimum [member] | Interest rate correlation [member] | Derivatives at equity [member] | Option pricing model [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs,correlation | 0.0048 | ||
Level 3 [member] | Minimum [member] | Reset spread (%) [member] | Derivatives at rates [member] | Present value techniques [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, percentage | 2.00% | 2.00% | |
Level 3 [member] | Minimum [member] | Prepayment rate (%) [member] | Loan and advances at fair value through other comprehensive income [Member] | Present value techniques [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, percentage | 6.00% | 6.00% | |
Level 3 [member] | Minimum [member] | Inflation rate (%) [member] | Equity, at fair value through other comprehensive income [Member] | Present value techniques [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, percentage | 3.00% | 3.00% | |
Level 3 [member] | Minimum [member] | Jump rate (%) [member] | Derivatives at foreign exchange [member] | Present value techniques [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, percentage | 12.00% | 12.00% | |
Level 3 [member] | Minimum [member] | Equity/equity correlation [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs,correlation | 0 | 0.2 | |
Level 3 [member] | Minimum [member] | Equity/equity correlation [member] | Structured notes [member] | Option pricing model [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs,correlation | 0.6 | 0.6 | |
Level 3 [member] | Minimum [member] | Equity/equity correlation [member] | Derivatives at equity [member] | Option pricing model [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs,correlation | 0 | 0.2 | |
Level 3 [member] | Minimum [member] | Commodity volatility [member] | Other derivatives [member] | Option pricing model [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, percentage | 0.00% | 12.00% | |
Level 3 [member] | Minimum [member] | Com/com correlation [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs,correlation | 0.3 | 0.3 | |
Level 3 [member] | Minimum [member] | Com/com correlation [member] | Other derivatives [member] | Option pricing model [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs,correlation | 0.3 | 0.3 | |
Level 3 [member] | Minimum [member] | Com/FX correlation [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs,correlation | (0.6) | (0.5) | |
Level 3 [member] | Minimum [member] | Com/FX correlation [member] | Other derivatives [member] | Option pricing model [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs,correlation | (0.6) | (0.5) | |
Level 3 [member] | Minimum [member] | Other [member] | Equity, at fair value through other comprehensive income [Member] | Present value techniques [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, credit spread | 0.63% | 0.63% | |
Level 3 [member] | Minimum [member] | Debt securities [member] | Price (%) [member] | Price based [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, percentage | 0.00% | 0.00% | |
Level 3 [member] | Minimum [member] | Debt securities [member] | Price (%) [member] | Net asset value [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, percentage | 0.00% | ||
Level 3 [member] | Minimum [member] | Debt securities [member] | Credit spread (BPS) [member] | Present value techniques [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, credit spread | 1.31% | ||
Level 3 [member] | Maximum [member] | Price (%) [member] | Loans and advances [member] | Price based [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, percentage | 100.00% | 102.00% | |
Level 3 [member] | Maximum [member] | Price (%) [member] | Loans and advances [member] | Present value techniques [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, percentage | 10000.00% | ||
Level 3 [member] | Maximum [member] | Price (%) [member] | Reverse (Repos) [Member] | Present value techniques [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, percentage | 4.00% | 4.00% | |
Level 3 [member] | Maximum [member] | Price (%) [member] | Structured notes [member] | Price based [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, percentage | 111.00% | 108.00% | |
Level 3 [member] | Maximum [member] | Price (%) [member] | Equity, at fair value through other comprehensive income [Member] | Price based [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, credit spread | 98.00% | ||
Level 3 [member] | Maximum [member] | Credit spread (BPS) [member] | Loans and advances [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, credit spread | 4.55% | 5.50% | |
Level 3 [member] | Maximum [member] | Credit spread (BPS) [member] | Derivatives at rates [member] | Present value techniques [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, credit spread | 0.46% | ||
Level 3 [member] | Maximum [member] | Credit spread (BPS) [member] | Derivative at credit [member] | Present value techniques [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, credit spread | 5.57% | 3.64% | |
Level 3 [member] | Maximum [member] | Credit spread (BPS) [member] | Derivative at credit [member] | Comparable transactions [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, credit spread | 5.57% | 3.64% | |
Level 3 [member] | Maximum [member] | Credit spread (BPS) [member] | Equity, at fair value through other comprehensive income [Member] | Present value techniques [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, credit spread | 2.98% | 3.22% | |
Level 3 [member] | Maximum [member] | FX Volatility (bps) [Member] | Derivatives at foreign exchange [member] | Option pricing model [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, credit spread | 0.07% | ||
Level 3 [member] | Maximum [member] | Equity volatility (%) [member] | Structured notes [member] | Option pricing model [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, percentage | 21.00% | 34.00% | |
Level 3 [member] | Maximum [member] | Equity volatility (%) [member] | Derivatives at equity [member] | Option pricing model [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, percentage | 100.00% | 94.00% | |
Level 3 [member] | Maximum [member] | Equity/FX correlation [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs,correlation | 0.6 | ||
Level 3 [member] | Maximum [member] | Equity/FX correlation [member] | Structured notes [member] | Option pricing model [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs,correlation | 0.2 | 0.5 | |
Level 3 [member] | Maximum [member] | Equity/FX correlation [member] | Derivatives at rates [member] | Option pricing model [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs,correlation | 0.2 | ||
Level 3 [member] | Maximum [member] | Equity/FX correlation [member] | Derivatives at equity [member] | Option pricing model [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs,correlation | 0.6 | 0.5 | |
Level 3 [member] | Maximum [member] | Dividend yield (%) [member] | Structured notes [member] | Option pricing model [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, percentage | 5.00% | 5.00% | |
Level 3 [member] | Maximum [member] | Dividend yield (%) [member] | Derivatives at equity [member] | Option pricing model [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, percentage | 15.00% | 13.00% | |
Level 3 [member] | Maximum [member] | Interest rate volatility (%) [member] | Structured notes [member] | Option pricing model [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, percentage | 86.00% | ||
Level 3 [member] | Maximum [member] | Interest rate volatility (%) [member] | Derivatives at rates [member] | Option pricing model [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, credit spread | 3.00% | 3.00% | |
Level 3 [member] | Maximum [member] | IR/IR correlation [Member] | Structured notes [member] | Option pricing model [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs,correlation | 0.8 | ||
Level 3 [member] | Maximum [member] | Implied correlation [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs,correlation | 0.7 | ||
Level 3 [member] | Maximum [member] | Implied correlation [member] | Structured notes [member] | Present value techniques [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs,correlation | 0.7 | ||
Level 3 [member] | Maximum [member] | Implied correlation [member] | Derivative at credit [member] | Present value techniques [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs,correlation | 0.7 | ||
Level 3 [member] | Maximum [member] | Interest rate correlation [member] | Derivatives at rates [member] | Option pricing model [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs,correlation | 0.8 | ||
Level 3 [member] | Maximum [member] | Interest rate correlation [member] | Derivatives at equity [member] | Option pricing model [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs,correlation | 0.03 | ||
Level 3 [member] | Maximum [member] | Reset spread (%) [member] | Derivatives at rates [member] | Present value techniques [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, percentage | 2.00% | 2.00% | |
Level 3 [member] | Maximum [member] | Prepayment rate (%) [member] | Loan and advances at fair value through other comprehensive income [Member] | Present value techniques [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, percentage | 6.00% | 6.00% | |
Level 3 [member] | Maximum [member] | Inflation rate (%) [member] | Equity, at fair value through other comprehensive income [Member] | Present value techniques [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, percentage | 3.00% | 3.00% | |
Level 3 [member] | Maximum [member] | Jump rate (%) [member] | Derivatives at foreign exchange [member] | Present value techniques [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, percentage | 12.00% | 12.00% | |
Level 3 [member] | Maximum [member] | Equity/equity correlation [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs,correlation | 0.9 | 0.9 | |
Level 3 [member] | Maximum [member] | Equity/equity correlation [member] | Structured notes [member] | Option pricing model [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs,correlation | 0.8 | 0.9 | |
Level 3 [member] | Maximum [member] | Equity/equity correlation [member] | Derivatives at equity [member] | Option pricing model [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs,correlation | 0.9 | 0.9 | |
Level 3 [member] | Maximum [member] | Commodity volatility [member] | Other derivatives [member] | Option pricing model [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, percentage | 44.00% | 79.00% | |
Level 3 [member] | Maximum [member] | Com/com correlation [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs,correlation | 0.9 | 0.9 | |
Level 3 [member] | Maximum [member] | Com/com correlation [member] | Other derivatives [member] | Option pricing model [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs,correlation | 0.9 | 0.9 | |
Level 3 [member] | Maximum [member] | Com/FX correlation [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs,correlation | (0.2) | 0.5 | |
Level 3 [member] | Maximum [member] | Com/FX correlation [member] | Other derivatives [member] | Option pricing model [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs,correlation | (0.2) | ||
Level 3 [member] | Maximum [member] | Other [member] | Equity, at fair value through other comprehensive income [Member] | Present value techniques [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, credit spread | 0.80% | 0.80% | |
Level 3 [member] | Maximum [member] | Debt securities [member] | Price (%) [member] | Price based [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, percentage | 99.00% | 105.00% | |
Level 3 [member] | Maximum [member] | Debt securities [member] | Price (%) [member] | Net asset value [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, percentage | 0.00% | ||
Level 3 [member] | Maximum [member] | Debt securities [member] | Credit spread (BPS) [member] | Present value techniques [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs, credit spread | 1.31% | ||
Level 3 [member] | Maximum [member] | Equity securities [member] | Price based [member] | |||
Disclosure of significant unobservable inputs used in fair value measurement of assets [line items] | |||
Significant unobservable inputs,correlation | 5,475 | 5,475 |
Fair Value of Assets and Liab_8
Fair Value of Assets and Liabilities - Sensitivity analysis of Level 3 instruments (Detail) - Level 3 [member] - EUR (€) € in Millions | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Disclosure of fair value measurement of assets [line items] | ||
Positive fair value movements from using reasonable possible alternatives | € 106 | € 142 |
Negative fair value movements from using reasonable possible alternatives | 0 | 4 |
Financial assets at fair value through profit or loss [member] | Equity (equity derivatives, structured notes) [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Positive fair value movements from using reasonable possible alternatives | 45 | 60 |
Negative fair value movements from using reasonable possible alternatives | 0 | 4 |
Financial assets at fair value through profit or loss [member] | Interest rates (Rates derivatives, FX derivatives) [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Positive fair value movements from using reasonable possible alternatives | 45 | 43 |
Financial assets at fair value through profit or loss [member] | Credit (Debt securities, Loans, structured notes, credit derivatives) [member] | ||
Disclosure of fair value measurement of assets [line items] | ||
Positive fair value movements from using reasonable possible alternatives | € 16 | € 39 |
Fair Value of Assets and Liab_9
Fair Value of Assets and Liabilities - Additional Information (Detail) - EUR (€) € in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of fair value measurement of assets and liabilities [Line Items] | |||
Confidence range | If certain inputs in the model are unobservable, the instrument is still classified in this category, provided that the impact of those unobservable inputs on the overall valuation is insignificant. The notion of significant is particularly relevant for the distinction between Level 2 and Level 3 assets and liabilities. ING Group has chosen to align the definition of significant with the 90% confidence range as captured in the prudent value definition by EBA. Unobservable parameters are shifted down and upwards to reach this 90% confidence range. The same 90% confidence range is applied to model uncertainty. If the combined change in asset value resulting from the shift of the unobservable parameters and the model uncertainty exceeds the threshold, the asset is classified as Level 3. A value change below the threshold results in a Level 2 classification. | ||
Significant confidence range percentage | 90.00% | ||
Financial assets, at fair value | € 150,222,000 | € 151,709,000 | |
Financial liabilities measured at fair value | 99,448,000 | 92,693,000 | |
Financial assets classified as Level 3 based on quoted price | € 2,800,000 | € 3,400,000 | |
Percentage on financial asset based on unadjusted quoted price | 59.80% | 63.20% | |
Amount of risk neutral designed financial assets | € 1,100,000 | € 1,100,000 | |
Remaining financial assets classified as level 3 using valuation techniques | 800,000 | 800,000 | |
Financial Liabilities classified as Level 3 based on unadjusted quoted price | 700,000 | 700,000 | |
Financial Liabilities designed to be fully neutral in terms of market risk | 100,000 | 100,000 | |
Level 3 [member] | |||
Disclosure of fair value measurement of assets and liabilities [Line Items] | |||
Unrealised gains on (losses) recognised in the statement of profit or loss, for assets | (20,000) | ||
Unrealised gains and losses recognised in the statement of profit or loss, for liabilities | 35,000 | ||
Financial assets, at fair value | € 4,741,000 | € 5,387,000 | € 2,034,000 |
Percentage of financial assets classified as level 3 | 3.20% | 3.60% | |
Financial liabilities measured at fair value | € 973,000 | € 910,000 | |
Financial liabilities classified as Level 3 | € 900,000 | ||
Percentage of financial liabilities classified as level 3 | 1.00% | 1.00% | |
Percentage on financial asset based on unadjusted quoted price | 71.30% | 82.00% | |
Remaining financial liabilities classified as level 3 using valuation techniques | € 200,000 | € 100,000 | |
Percentage of valuation certainty | 90.00% |
Legal proceedings - Additional
Legal proceedings - Additional Information (Detail) | Jun. 30, 2019 |
Disclosure Of Legal Proceedings [Abstract] | |
Percentage of customers uniform recovery framework | 99.00% |
Subsequent Events - Additional
Subsequent Events - Additional Information (Detail) - EUR (€) € in Millions | Jun. 30, 2019 | Dec. 31, 2018 |
Disclosure of non-adjusting events after reporting period [line items] | ||
Assets held for sale | € 1,154 | € 1,262 |
Classification of Assets As Held For Sale [Member] | Part of ING Lease Italy business [member] | ||
Disclosure of non-adjusting events after reporting period [line items] | ||
Assets held for sale | € 1,154 |