ING Projects €5 Billion Fee Income by 2026 and €300 Million Cost Reduction by 2027
During the Q3 earnings call, ING Groep N.V. management outlined a strategic roadmap focused on fee income growth and operational efficiency. CEO Steven van Rijswijk highlighted strong customer acquisition trends, noting that the bank added 259,000 mobile primary customers recently, contributing to a total growth of over 1.1 million customers in the past year. The bank's long-term financial targets include reaching €5 billion in fee income by 2026. Additionally, ING is implementing cost-management measures aimed at reducing annual expenses by €300 million by 2027, signaling a commitment to improving margins through scale and digital customer growth.
Tickers: $ING