Update on adjustments of future regulatory capital requirements

ING notes the announcements made today by the Dutch Central Bank (DNB) regarding the adjustment per 31 May 2024 of two elements of the capital requirements.

The systemic importance buffer requirements for Other Systemically Important Institutions (O-SII buffers) were adjusted. For ING, the buffer requirement will be reduced from the current 2.5% to 2.0% effective 31 May 2024. For more information see www.dnb.nl

DNB also announced an increase of the Dutch countercyclical buffer (CCyB) from 1.0% to 2.0% effective 31 May 2024. Based on ING’s risk-weighted exposure in The Netherlands as of 1Q2023, this adjustment is estimated to increase our fully loaded CCyB requirement by 18 basis points to approximately 0.67%. For more information see www.dnb.nl

As a result of these two adjustments, based on financial data as of 1Q23, our fully loaded SREP requirement would decrease by approximately 32 basis points per 31 May 2024. Currently ING’s SREP requirement is 10.98%. Our actual CET1 ratio per 31 March 2023 was 14.8%. We maintain our CET1 ratio target of around 12.5%.