ING Belgium increased first-half profit before tax by 29% through strong topline growth
Strong customer activity and rising investment volumes support performance
Our strong commercial momentum continued in the first half of 2026 with customer growth accelerating across all segments and investment activity continuing to increase. More customers are choosing us as their primary banking partner and entrusting us with more of their banking and investment needs. This translated into continued growth in assets under management, increased fee income and a more diversified income base. Supported by this strong commercial momentum, profit before tax increased by 28.7% to €523 million.
Peter Adams, CEO ING Belgium: “Customer growth is the clearest proof that our ‘Together for Progress’-strategy is working. More customers are choosing us as their primary banking partner, supported for example by the successful launch of our new subscription Packs. Across all segments, we are strengthening our position and building deeper customer relationships. In a more uncertain economic and geopolitical environment, strong results are not an end goal in themselves. They give us the resilience to keep supporting families, entrepreneurs and businesses, to help customers make informed financial decisions and to finance investments that matter. That is how we want to grow: with our customers and with the Belgian economy.”
Income base further diversified thanks to continued investment activities
Total income grew by 8.1% to €1,813 million, confirming the strength of our franchise and the continued expansion of customer relationships across the business.
Assets under management reached €54.9 billion, up 14% year-on-year, fuelled by growing demand for investment solutions as customers increasingly seek alternatives to traditional savings products. More customers are choosing ING Belgium’s investment offering, driven by growing demand for investment funds, which offer financial and operational advantages in the context of the new Belgian capital gains tax, as well as by the introduction of recurring ETF investment plans. Continued net inflows despite market volatility drove growth in assets under management, contributing to an increase in fee and commission income to €533 million.
Compared to last year, net interest income increased by 4.6% to €1.18 billion, as we benefit from a more favorable rate environment for our core banking activities, and despite the drop in customer deposits which is fully attributable to lower balances in our franchise in Luxemburg. Against that backdrop, customer deposit growth in Belgium remained positive, underlining the continued strength of our franchise and customer activity across the Belgian market.
Profitability further supported by disciplined cost management
Compared to last year, result before risk costs and tax increased by 37.8% to €678 million, reflecting strong income growth and continued cost discipline. Year-on-year, total expenses fell by 4.2% to €1.11 billion, despite continued investments in our franchise (like the roll out of a new banking platform). Rising revenues and declining costs improve our cost/income ratio significantly from 70.7% to 62.6%, illustrating the continued strengthening of our operating model.
Our resilience remains important in the current environment. Risk costs were €155 million in the first half of 2026, compared with €86 million in the first half of 2025. They remain within the range we would expect for our €119 billion portfolio. The increase largely reflects ongoing economic and geopolitical uncertainty, and our continued prudent approach to provisioning.
Hans De Munck, CFO ING Belgium: "The first half of 2026 illustrates the benefits of a more diversified income base. As customer relationships continue to deepen, investment activity, assets under management and fee income are playing an increasingly important role in our performance. Combined with a strong operating model and disciplined execution, this gives us a resilient foundation in a more uncertain environment.”
Strong customer growth across all segments
The first half of 2026 demonstrates the strength of our customer propositions across all customer segments. Continued investments in innovation, advisory services and specialized expertise translated into strong commercial momentum.
- Private Individuals: Customer acquisition increased by 31% year-on-year. The launch of our new lifestyle-based subscription Packs was a key milestone, redefining everyday banking around what matters most to customers: simplicity, transparency and more value for money.
- Private Banking: New client inflows more than doubled year-on-year. At the same time, we strengthened our role as a trusted advisor through ING Financial Compass, a new wealth planning tool that helps clients gain a comprehensive overview of their assets and make informed decisions around investing, legacy and protection.
- Business Banking: We continued to deepen customer relationships. Alongside strong customer acquisition, the number of clients in the starters segment increased by 68%, while existing clients increasingly relied on us for a broader range of products and services.
- Wholesale Banking: In a mature and highly competitive market, we continued to deepen client relationships by bringing more of ING’s international network, sector expertise and specialist capabilities to Belgian corporates. This included a leading role in strategic financing and capital markets transactions, while continued digitalization made interactions with us faster and easier for clients.
Our strong commercial momentum shows that customers value our propositions, expertise and advice. The economic and geopolitical environment remains however uncertain, and we see that reflected across parts of the economy.
Supported by a strong operating model, dedicated commercial teams and a resilient balance sheet, we have the capital strength, profitability and risk profile required to continue supporting our customers and the real economy. This gives us confidence not only in our own future growth opportunities, but also in our ability to help customers achieve their ambitions in an ever-changing environment.
Peter Adams, CEO ING Belgium
Hans De Munck, CFO ING Belgium
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Daphne Poets
About ING
ING Belgium is a universal bank that provides financial services for private individuals, businesses and institutional customers. ING Belgium S.A./N.V. is a subsidiary of ING Group N.V. via ING Bank N.V. (www.ing.com).
ING is a global financial institution with a strong European base, offering banking services through its operating company ING Bank. The purpose of ING is: empowering people to stay a step ahead in life and in business. ING’s more than 60,000 employees offer retail and wholesale banking services to customers in over 100 countries.
ING Group shares are listed on the exchanges of Amsterdam (INGA NA, INGA.AS), Brussels and on the New York Stock Exchange (ADRs: ING US, ING.N).
ING aims to put sustainability at the heart of what we do. Our policies and actions are assessed by independent research and ratings providers, which give updates on them annually. ING’s ESG rating by MSCI has been upgraded from ‘AA’ to ‘AAA’ in October 2025. As of June 2025, in Sustainalytics’ view, ING’s management of ESG material risk is ‘Strong’ with an ESG risk rating of 18.0 (low risk). ING Group shares are included in major sustainability and ESG index products of leading providers. Here are some examples: Euronext, STOXX, Morningstar and FTSE Russell.