ING Group Raises 2027 Targets Following ECB Model Updates
What happened
ING Group updated its operational models to meet requirements set by the European Central Bank. The CEO stated the bank has raised its 2027 return on tangible equity target to more than 16%, up from the previous 14% goal. This outlook is supported by projected revenues exceeding €26 billion and costs around €13 billion by 2027. The company also expects additional fee income growth of €300 million to €500 million by 2027.
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Why it matters
The targets were raised following the successful implementation of significant risk transfers, which were required to align with European Central Bank standards. The successful model updates reflect the bank's ability to maintain profitability through revenue growth, cost scalability, and capital management.
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Who's involved
- ING GroupDutch multinational banking and financial services corporation
- European Central BankCentral bank of the European Union and the eurozone
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The entities involved
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ING Group
Dutch multinational banking and financial services corporation
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European Central Bank
central bank of the European Union and the eurozone
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