reports
Update on management changes
Update on management changes Update on management changes ING announced today that Ljiljana Čortan will be appointed head of ING Wholesale Banking, effective 24 February 2026. She is succeeding Andrew Bester, who, as announced last October, is returning to the UK to start the non-executive phase of his career. Having completed the handover of the Wholesale Banking activities, Andrew Bester will step down from the Management Board Banking on 24 February 2026. “I would like to thank Andrew for his contributions and leadership during the last five years, significantly strengthening the found...
Progress on share buyback programme
Progress on share buyback programme Progress on share buyback programme ING announced today that, as part of our €1.1 billion share buyback programme announced on 30 October 2025, in total 2,606,377 shares were repurchased during the week of 26 January up to and including 30 January 2026. The shares were repurchased at an average price of €24.76 for a total amount of €64,545,806.61. For detailed information on the daily repurchased shares, individual share purchase transactions and weekly reports, see the updates on the on our website. In line with the purpose of the programme to reduce...
- Bruno Cavalier
- Roy Külter
- Steven Boumans
BNP BNP PARIBAS SA CLASS A
MC LVMH MOET HENNESSY LOUIS VUITTON SE
LI KLEPIERRE SA
COV COVIVIO SA
GFC GECINA SA
NXI NEXITY SA CLASS A
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
GYC GRAND CITY PROPERTIES SA
KORI KORIAN SA
MERY MERCIALYS SA
RBI RAIFFEISEN BANK INTERNATIONAL AG
EL ESSILORLUXOTTICA SA
INEA FONCIERE INEA
BLC BASTIDE LE CONFORT MEDICAL SA
WHA WERELDHAVE N.V.
BLND BRITISH LAND COMPANY PLC
BRBY BURBERRY GROUP PLC
VIRP VIRBAC SA
VETO VETOQUINOL SA
VLS VALNEVA SE
LNA LNA SANTE SA
KOF KAUFMAN & BROAD SA
GBT GUERBET SA
KER KERING SA
ALTA ALTAREA SCA
VNA VONOVIA SE
XIOR XIOR STUDENT HOUSING N.V.
SAN SANOFI
FRE FRESENIUS SE & CO. KGAA
CAP CAPGEMINI SE
ICAD ICADE SA
01913 PRADA S.P.A.
BYG BIG YELLOW GROUP PLC
UTG UNITE GROUP PLC
COFB COFINIMMO SA
CAI CA IMMOBILIEN ANLAGEN AG
TEG TAG IMMOBILIEN AG
VASTB VASTNED RETAIL BELGIUM NV
PSPN PSP SWISS PROPERTY AG
UBS UBM DEVELOPMENT AG
SPSN SWISS PRIME SITE AG
PAT PATRIZIA AG
MONT MONTEA SCA
AED AEDIFICA SA
CARM CARMILA SAS
LEG LEG IMMOBILIEN AG
MONC MONCLER SPA
IRES IRISH RESIDENTIAL PROPERTIES REIT PLC
CPINV CARE PROPERTY INVEST SA
SAFE SAFESTORE HOLDINGS PLC
ARG ARGAN SA
CABK CAIXABANK SA
VGP VGP NV
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
COL INMOBILIARIA COLONIAL SOCIMI SA
DIC DIC ASSET AG
MERLIN MERLIN PROPERTIES SOCIMI S.A.
INGA ING GROEP NV
HOME NEINOR HOMES SA
AT1 AROUNDTOWN SA
BIM BIOMERIEUX SA
LAND LAND SECURITIES GROUP PLC
MVC METROVACESA SA
DWS DWS GROUP GMBH & CO. KGAA
NSI NSI N.V.
ULA UNIBAIL-RODAMCO-WESTFIELD SE STAPLED SECS CONS OF 1 SH UNIBAIL RODAMCO + 1 SH WFD UNIB ROD
INS INSTONE REAL ESTATE GROUP AG
AEDAS AEDAS HOMES SA
WDP WAREHOUSES DE PAUW SCA
ECMPA EUROCOMMERCIAL PROPERTIES NV
ZGN ERMENEGILDO ZEGNA NV
CTPNV CTP NV
EAPI EUROAPI
SHUR SHURGARD SELF STORAGE LIMITED
ORP ORPEA
ALIV SDB AUTOLIV INC.
- Bruno Cavalier
- Martial Descoutures
- Oliver Metzger
BNP BNP PARIBAS SA CLASS A
MC LVMH MOET HENNESSY LOUIS VUITTON SE
SSAB A SSAB AB CLASS A
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
KORI KORIAN SA
RBI RAIFFEISEN BANK INTERNATIONAL AG
EL ESSILORLUXOTTICA SA
BLC BASTIDE LE CONFORT MEDICAL SA
BRBY BURBERRY GROUP PLC
VIRP VIRBAC SA
VETO VETOQUINOL SA
VLS VALNEVA SE
LNA LNA SANTE SA
GBT GUERBET SA
KER KERING SA
SAN SANOFI
FRE FRESENIUS SE & CO. KGAA
CAP CAPGEMINI SE
01913 PRADA S.P.A.
MONC MONCLER SPA
CABK CAIXABANK SA
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
INGA ING GROEP NV
BIM BIOMERIEUX SA
DWS DWS GROUP GMBH & CO. KGAA
ZGN ERMENEGILDO ZEGNA NV
EAPI EUROAPI
ORP ORPEA
ALIV SDB AUTOLIV INC.
- Cor Kluis
- Stefano Toffano
ENGI ENGIE SA.
SU SCHNEIDER ELECTRIC SE
KNEBV KONE OYJ CLASS B
MC LVMH MOET HENNESSY LOUIS VUITTON SE
ROG ROCHE HOLDING LTD
VOLV B VOLVO AB CLASS B
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
ABB ABB LTD.
GIVN GIVAUDAN SA
SAND SANDVIK AB
RXL REXEL SA
NOKIA NOKIA OYJ
EL ESSILORLUXOTTICA SA
BRBY BURBERRY GROUP PLC
KER KERING SA
ALO ALSTOM SA
SCHP SCHINDLER HOLDING AG PREF
SAN SANOFI
EZJ EASYJET PLC
01913 PRADA S.P.A.
NEM NEMETSCHEK SE
HM B H&M HENNES & MAURITZ AB CLASS B
DOKA DORMAKABA HOLDING AG
LPP LPP S.A.
MOCORP METSO OUTOTEC OYJ
MONC MONCLER SPA
ASSA B ASSA ABLOY AB CLASS B
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
INGA ING GROEP NV
LDO BANCO SANTANDER S.A.
SAP LEONARDO SPA
SIE SAP SE
ASML SIEMENS AG
STM ASML HOLDING NV
VOS STMICROELECTRONICS NV
CAF VOSSLOH AG
KBX CONSTRUCCIONES Y AUXILIAR DE FERROCARRILES S.A.
SRAIL KNORR-BREMSE AG
ENR STADLER RAIL AG
ERF SIEMENS ENERGY AG
EPI A EUROFINS SCIENTIFIC SOCIETE EUROPEENNE
ZGN EPIROC AB
ATCO A ERMENEGILDO ZEGNA NV
ATLAS COPCO AB
- Stefano Toffano
ENGI ENGIE SA.
SU SCHNEIDER ELECTRIC SE
KNEBV KONE OYJ CLASS B
MC LVMH MOET HENNESSY LOUIS VUITTON SE
ROG ROCHE HOLDING LTD
VOLV B VOLVO AB CLASS B
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
ABB ABB LTD.
GIVN GIVAUDAN SA
SAND SANDVIK AB
RXL REXEL SA
NOKIA NOKIA OYJ
EL ESSILORLUXOTTICA SA
BRBY BURBERRY GROUP PLC
KER KERING SA
ALO ALSTOM SA
SCHP SCHINDLER HOLDING AG PREF
SAN SANOFI
EZJ EASYJET PLC
01913 PRADA S.P.A.
NEM NEMETSCHEK SE
HM B H&M HENNES & MAURITZ AB CLASS B
DOKA DORMAKABA HOLDING AG
LPP LPP S.A.
MOCORP METSO OUTOTEC OYJ
MONC MONCLER SPA
ASSA B ASSA ABLOY AB CLASS B
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
INGA ING GROEP NV
LDO BANCO SANTANDER S.A.
SAP LEONARDO SPA
SIE SAP SE
ASML SIEMENS AG
STM ASML HOLDING NV
VOS STMICROELECTRONICS NV
CAF VOSSLOH AG
KBX CONSTRUCCIONES Y AUXILIAR DE FERROCARRILES S.A.
SRAIL KNORR-BREMSE AG
ENR STADLER RAIL AG
ERF SIEMENS ENERGY AG
EPI A EUROFINS SCIENTIFIC SOCIETE EUROPEENNE
ZGN EPIROC AB
ATCO A ERMENEGILDO ZEGNA NV
ATLAS COPCO AB
- Cor Kluis
- Hilde Van Boxstael
- Lynn Hautekeete
- Thomas Couvreur
- Wim Hoste
ABN AMRO appoints Michiel Lap as Chair and nominates Jean-Pierre Musti...
ABN AMRO appoints Michiel Lap as Chair and nominates Jean-Pierre Mustier as new member of its Supervisory Board ABN AMRO appoints Michiel Lap as Chair and nominates Jean-Pierre Mustier as new member of its Supervisory Board 29 January 2026 Today, ABN AMRO announces that its Supervisory Board will appoint Michiel Lap as Chair of the Supervisory Board of ABN AMRO Bank N.V. with effect from the closure of the Annual General Meeting on 22 April 2026. Michiel Lap will succeed Tom de Swaan, who will retire as Chair after almost eight years. Furthermore, ABN AMRO is pleased to announce the nomin...
ABN AMRO benoemt Michiel Lap als voorzitter en draagt Jean-Pierre Must...
ABN AMRO benoemt Michiel Lap als voorzitter en draagt Jean-Pierre Mustier voor als nieuw lid van de Raad van Commissarissen ABN AMRO benoemt Michiel Lap als voorzitter en draagt Jean-Pierre Mustier voor als nieuw lid van de Raad van Commissarissen 29 januari 2026 Vandaag maakt ABN AMRO bekend dat de Raad van Commissarissen Michiel Lap benoemt als voorzitter van de Raad van Commissarissen van ABN AMRO Bank N.V., met ingang van het einde van de Algemene Vergadering op 22 april 2026. Michiel Lap volgt Tom de Swaan op, die na bijna acht jaar terugtreedt als voorzitter. Daarnaast kondigt ABN A...
ING posts FY2025 net result of €6,327 million, driven by continued gro...
ING posts FY2025 net result of €6,327 million, driven by continued growth in customer balances and fee income ING posts FY2025 net result of €6,327 million, driven by continued growth in customer balances and fee income Full-year profit before tax of €9,148 million and full-year return on equity of 13.2%•Mobile primary customer base rises by over 1.0 million in 2025 to 15.4 million•Net core lending growth of €57 billion, or 8%, and net core deposits growth of €38 billion, or 6%•Total income rises to €23.0 billion; fee income increases 15% to €4.6 billion•CET1 ratio of 13.1%; proposed final ...
Progress on share buyback programme
Progress on share buyback programme Progress on share buyback programme ING announced today that, as part of our €1.1 billion share buyback programme announced on 30 October 2025, in total 1,907,413 shares were repurchased during the week of 19 January up to and including 23 January 2026. The shares were repurchased at an average price of €24.33 for a total amount of €46,405,706.45. For detailed information on the daily repurchased shares, individual share purchase transactions and weekly reports, see the updates on the on our website. In line with the purpose of the programme to reduce...
- Hilde Van Boxstael
- Lynn Hautekeete
- Thomas Couvreur
- Wim Lewi
- Thomas Couvreur
ING Increased estimates, but sector re-rate as main driver
Over the last few quarters ING's share price has appreciated significantly, mainly on the back of multiple expansion in the European banking sector. While ING doubled in value over the past 2 years, it's share price performance and multiple expansion is in line with its European peers. We increased our FY25-FY27 estimates and land on a new SOTP valuation of €26. Without a further increase in sector valuations, additional upside for ING is limited. We reiterate our Accumulate rating.
Progress on share buyback programme
Progress on share buyback programme Progress on share buyback programme ING announced today that, as part of our €1.1 billion share buyback programme announced on 30 October 2025, in total 1,822,110 shares were repurchased during the week of 12 January up to and including 16 January 2026. The shares were repurchased at an average price of €24.87 for a total amount of €45,309,463.19. For detailed information on the daily repurchased shares, individual share purchase transactions and weekly reports, see the updates on the on our website. In line with the purpose of the programme to reduce...
- Oliver Metzger
- Stephane Houri
BMW BAYERISCHE MOTOREN WERKE AKTIENGESELLSCHAFT
FRA FRAPORT AG
IPN IPSEN SA
TKA THYSSENKRUPP AG
JMT JERONIMO MARTINS SGPS S.A.
DGE DIAGEO PLC
ADS ADIDAS AG
LISN CHOCOLADEFABRIKEN LINDT & SPRUENGLI AG
WTB WHITBREAD PLC
DAI DAIMLER AG
GXI GERRESHEIMER AG
KCO KLOECKNER & CO SE
VNA VONOVIA SE
EOAN E.ON SE
SDF K+S AG
ZAL ZALANDO SE
HEI HEIDELBERGCEMENT AG
BAYN BAYER AG
VOW3 VOLKSWAGEN AG PREF
HEN3 HENKEL AG & CO. KGAA PREF
DTE DEUTSCHE TELEKOM AG
SY1 SYMRISE AG
DEZ DEUTZ AG
KRN KRONES AG
LEG LEG IMMOBILIEN AG
BNR BRENNTAG SE
INGA ING GROEP NV
JUN3 JUNGHEINRICH AG PREF
DUE DURR AG
JEN JENOPTIK AG
KBX KNORR-BREMSE AG
HAG HENSOLDT AG
STM STABILUS SE
R3NK RENK GROUP AG
QGEN QIAGEN N.V.
SHA SCHAEFFLER AG
TKMS TKMS AG & CO. KGAA
- Oliver Metzger
- Stephane Houri
BMW BAYERISCHE MOTOREN WERKE AKTIENGESELLSCHAFT
FRA FRAPORT AG
IPN IPSEN SA
TKA THYSSENKRUPP AG
JMT JERONIMO MARTINS SGPS S.A.
DGE DIAGEO PLC
ADS ADIDAS AG
LISN CHOCOLADEFABRIKEN LINDT & SPRUENGLI AG
WTB WHITBREAD PLC
DAI DAIMLER AG
GXI GERRESHEIMER AG
KCO KLOECKNER & CO SE
VNA VONOVIA SE
EOAN E.ON SE
SDF K+S AG
ZAL ZALANDO SE
HEI HEIDELBERGCEMENT AG
BAYN BAYER AG
VOW3 VOLKSWAGEN AG PREF
HEN3 HENKEL AG & CO. KGAA PREF
DTE DEUTSCHE TELEKOM AG
SY1 SYMRISE AG
DEZ DEUTZ AG
KRN KRONES AG
LEG LEG IMMOBILIEN AG
BNR BRENNTAG SE
INGA ING GROEP NV
JUN3 JUNGHEINRICH AG PREF
DUE DURR AG
JEN JENOPTIK AG
KBX KNORR-BREMSE AG
HAG HENSOLDT AG
STM STABILUS SE
R3NK RENK GROUP AG
QGEN QIAGEN N.V.
SHA SCHAEFFLER AG
TKMS TKMS AG & CO. KGAA
- Cor Kluis
- ING Helpdesk
Benelux Morning Notes
ABN AMRO: Pre-close 4Q: positive read, but with recent CMD, no surprises on guidance / Ahold Delhaize: New US distribution centre to be leased from Blackstone / Kinepolis: Peer Cineplex December 2025 box office revenue at 89% of 2019 level, up 3% YoY / Randstad: Preview 4Q25F results due 11 February; consensus released / Staffing sector: Hays' 2Q26 trading update; miss vs consensus / Zabka: Peer Biedronka FY25 sales.
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