EBA reports on outcome of 2021 EU-wide stress test
EBA reports on outcome of 2021 EU-wide stress test
ING Group was subject to the 2021 EU-wide stress test conducted by the European Banking Authority (EBA), in cooperation with the European Central Bank (ECB), the European Systemic Risk Board (ESRB) and De Nederlandsche Bank. ING Group notes the announcements made today by the EBA on the stress test and fully acknowledges the outcomes of this exercise.
The 2021 EU-wide stress test does not contain a pass/fail threshold and instead is designed to be used as an important source of information for the purposes of the Supervisory Review and Evaluation Process. The results will assist competent authorities in assessing ING Group’s ability to meet applicable prudential requirements under stressed scenarios.
The adverse stress test scenario was set by the ECB/ESRB and covers a three-year time horizon (2020-2023). The stress test has been carried out applying a static balance sheet assumption as at December 2020, and therefore does not take into account future business strategies and management actions. It is not a forecast of ING Group’s profits.
Under the hypothetical baseline scenario and EBA’s methodological instructions, ING Group would have a fully loaded common equity Tier 1 capital ratio (CET1) of 16.06% in 2023. Under the hypothetical adverse scenario and EBA’s methodological instructions, ING Group would have a fully loaded CET1 ratio of 10.99% in 2023. ING Group published an actual fully loaded CET1 ratio of 15.41% per 31 December 2020. This number excluded €3,266 mln (corresponding to 1.07% CET1) for distributions, reserved outside of CET1 capital.
Note for editors
Detailed information on the outcome of the 2021 EU-wide stress test is provided by the EBA through disclosure templates available at eba.europa.eu.
For further information on ING, please visit www.ing.com. Frequent news updates can be found in the Newsroom or via the @ING_news Twitter feed. Photos of ING operations, buildings and its executives are available for download at Flickr. ING presentations are available at SlideShare.
|Press enquiries||Investor enquiries|
|Raymond Vermeulen||ING Group Investor Relations|
|+31 20 576 63 69||Investor.Relations@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 Bank is empowering people to stay a step ahead in life and in business. ING Bank’s more than 57,000 employees oﬀer retail and wholesale banking services to customers in over 40 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).
Sustainability forms an integral part of ING’s strategy, evidenced by ING’s leading position in sector benchmarks by Sustainalytics and MSCI. ING ranks ﬁrst in our market-cap group by Sustainalytics as of July 2020. ING's ESG rating by MSCI was upgraded to 'AA' in December 2020. ING Group shares are included in major sustainability and Environmental, Social and Governance (ESG) index products of leading providers STOXX, Morningstar and FTSE Russell. In January 2021, ING received an ESG evaluation score of 83 ('strong') from S&P Global Ratings.
Important legal information
Elements of this press release contain or may contain information about ING Groep N.V. and/ or ING Bank N.V. within the meaning of Article 7(1) to (4) of EU Regulation No 596/2014.
Certain of the statements contained herein are not historical facts, including, without limitation, certain statements made of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to diﬀ er materially from those expressed or implied in such statements. Actual results, performance or events may diﬀ er materially from those in such statements due to a number of factors, including, without limitation: (1) changes in general economic conditions and customer behaviour, in particular economic conditions in ING’s core markets, including changes aﬀecting currency exchange rates, (2) the eﬀects of the Covid-19 pandemic and related response measures, including lockdowns and travel restrictions, on economic conditions in countries in which ING operates, on ING’s business and operations and on ING’s employees, customers and counterparties, (3) changes aﬀecting interest rate levels, (4) any default of a major market participant and related market disruption, (5) changes in performance of ﬁnancial markets, including in Europe and developing markets, (6) political instability and ﬁscal uncertainty in Europe and the United States, (7) discontinuation of or changes in ‘benchmark’ indices, (8) inﬂation and deﬂation in our principal markets, (9) changes in conditions in the credit and capital markets generally, including changes in borrower and counterparty creditworthiness, (10) failures of banks falling under the scope of state compensation schemes, (11) non-compliance with or changes in laws and regulations, including those concerning ﬁnancial services, ﬁnancial economic crimes and tax laws, and the interpretation and application thereof, (12) geopolitical risks, political instabilities and policies and actions of governmental and regulatory authorities, (13) legal and regulatory risks in certain countries with less developed legal and regulatory frameworks, (14) prudential supervision and regulations, including in relation to stress tests and regulatory restrictions on dividends and distributions,, (also among members of the group), (15) regulatory consequences of the United Kingdom’s withdrawal from the European Union, including authorizations and equivalence decisions, (16) ING’s ability to meet minimum capital and other prudential regulatory requirements, (17) changes in regulation of US commodities and derivatives businesses of ING and its customers, (18) application of bank recovery and resolution regimes, including write-down and conversion powers in relation to our securities, (19) outcome of current and future litigation, enforcement proceedings, investigations or other regulatory actions, including claims by customers who feel mislead and other conduct issues, (20) changes in tax laws and regulations and risks of non-compliance or investigation in connection with tax laws, including FATCA, (21) operational risks, such as system disruptions or failures, breaches of security, cyber-attacks, human error, changes in operational practices or inadequate controls including in respect of third parties with which we do business, (22) risks and challenges related to cybercrime including the effects of cyber-attacks and changes in legislation and regulation related to cybersecurity and data privacy, (23) changes in general competitive factors, including ability to increase or maintain market share, (24) the inability to protect our intellectual property and infringement claims by third parties, (25) inability of counterparties to meet ﬁnancial obligations or ability to enforce rights against such counterparties, (26) changes in credit ratings, (27) business, operational, regulatory, reputation and other risks and challenges in connection with climate change, (28) inability to attract and retain key personnel, (29) future liabilities under deﬁned beneﬁt retirement plans, (30) failure to manage business risks, including in connection with use of models, use of derivatives, or maintaining appropriate policies and guidelines, (31) changes in capital and credit markets, including interbank funding, as well as customer deposits, which provide the liquidity and capital required to fund our operations and (32) the other risks and uncertainties detailed in the most recent annual report of ING Groep N.V., (including the Risk Factors contained therein) and ING’s more recent disclosures, including press releases, which are available on www.ING.com.
This document may contain inactive textual addresses to internet websites operated by us and third parties. Reference to such websites is made for information purposes only, and information found at such websites is not incorporated by reference into this document. ING does not make any representation or warranty with respect to the accuracy or completeness of, or take any responsibility for, any information found at any websites operated by third parties. ING speciﬁcally disclaims any liability with respect to any information found at websites operated by third parties. ING cannot guarantee that websites operated by third parties remain available following the publication of this document, or that any information found at such websites will not change following the ﬁling of this document. Many of those factors are beyond ING’s control.
Any forward looking statements made by or on behalf of ING speak only as of the date they are made, and ING assumes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or for any other reason.
This document does not constitute an oﬀ er to sell, or a solicitation of an oﬀ er to purchase, any securities in the United States or any other jurisdiction.
AttachmentTo view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
To view this piece of content from ml-eu.globenewswire.com, please give your consent at the top of this page.
One Liberty Plaza - 165 Broadway
NY 10006 New York
GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.
Subscribe to releases from GlobeNewswire
Subscribe to all the latest releases from GlobeNewswire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from GlobeNewswire
Nelson Labs® and Sterigenics® Open State-of-the-Art Laboratory and Expand Sterilization Facilities to Meet Growing Customer Demand in Europe28.9.2021 10:00:00 CEST | Press release
SALT LAKE CITY and OAK BROOK, Ill., Sept. 28, 2021 (GLOBE NEWSWIRE) -- Nelson Labs and Sterigenics Germany GmbH, global leaders in comprehensive laboratory testing and sterilization services, announced today the opening of a newly expanded, center of excellence for microbiological laboratory testing as well as increased sterilization capacity in their Wiesbaden, Germany facilities. This expansion will address the significantly increased demand for these services by the medical device and pharmaceutical industries. The Wiesbaden laboratory facility, part of the global Nelson Labs network since 2016, has significantly increased overall laboratory space and state-of-the-art capabilities to meet the increased global regulatory demands of medical and pharmaceutical customers. “With the continued growth and success of our laboratory in Wiesbaden, Nelson Labs had outgrown its current facility. To better serve our customers, we needed to expand,” said Joe Shrawder, President, Nelson Labs. This
CONDITIONS FOR SALE OF RIKSBANK CERTIFICATES28.9.2021 09:30:00 CEST | Press release
Bid date, 2021-09-28Auction date2021-09-28Settlement date2021-09-29Maturity Date2021-10-06Nominal amount533 billion SEKInterest rate, %0.00Bid times09.30-10.00 (CET/CEST) on the Bid dateConfirmation of bids to firstname.lastname@example.orgThe lowest accepted bid volume1 million SEKThe highest accepted bid volume533 billion SEKAllocation Time10.15 (CET/CEST) on the Bid dateProjected minimum liquidity surplus during the term1065 billion SEKExpected excess liquidity at full allotment532 billion SEK Stockholm, 2021-09-28
Another important step for dLab and Dala Energi28.9.2021 09:00:00 CEST | Press release
We are happy to announce that our journey with Dala Energi takes yet another important step! The product dAnalyzer Lite from cleantech company Dlaboratory Sweden AB (dLab), are being integrated to one more station, Lindan. Dala Energi's business concept is to offer solutions in energy and digital communication that help people and companies live and develop in our countryside in an easy, efficient, and sustainable way and dLab is happy to support Dala Energi in realizing their mission. dLab’s dInsight Analytics Platform provides a decision support system including a broad set of features and services. One of these features is dAnalyzer, collecting grid data from its minimal hardware, completely independent of age and make, including high-resolution sensors. The data is analyzed and put into meaningful context through a web-based interface; thereby enabling proactive fault detection as well as proactive maintenance. In modern substations equipped with digital protection relays including
DNO Updates North Sea Drilling28.9.2021 08:27:36 CEST | Press release
Oslo, 28 September 2021 – DNO ASA, the Norwegian oil and gas operator, today reported an oil discovery on the Gomez prospect in its operated PL006C license offshore Norway. The exploration well encountered hydrocarbons in the primary target in the Våle Formation of Paleocene Age. The reservoir is a 23 meters thick, homogeneous sandstone of poor to moderate quality. A small amount of oil was recovered during logging. The oil/water contact was not encountered. Based on preliminary assessments, there is uncertainty whether the reservoir can be commercially produced and no estimate of recoverable volumes has been established at this stage. DNO holds a 65 percent interest in the PL006C license and together with its partner Aker BP (35 percent) will study the extensive data collected during the operation before deciding next steps. In a separate announcement, Equinor as operator of license PL159B (DNO 32 percent) has reported that the recently completed Black Vulture exploration well did not
Statkraft sells Andershaw Wind Farm and retains long-term management role28.9.2021 08:10:13 CEST | Press release
- Greencoat UK Wind PLC has purchased 100% of Statkraft’s ownership in Andershaw Wind Farm - Statkraft to retain long-term operations and maintenance as well as asset management - The two companies have also signed an extension of the existing PPA agreement (UK and Norway, 28 Sept 2021) Statkraft, Europe’s largest generator of renewable energy, has today announced the sale of Andershaw Wind Farm in Scotland, to Greencoat UK Wind PLC for a purchase price of £121m (including cash and working capital). Statkraft, who together with Catamount Energy*, began joint development of the project in 2006 and operation in 2017, will maintain day-to-day operation and maintenance, as well as asset management responsibilities until 2037. The company has also negotiated an extension of its existing long-term market access power purchase agreement. * Andershaw Wind Farm (36 MW installed capacity), south of Glasgow, produces enough energy to meet the annual needs of about 26,000 homes. Eivind Torblaa, Vi
Statkraft selger Andershaw Wind Farm i Skottland og fortsetter å drifte vindparken28.9.2021 08:10:13 CEST | Pressemelding
- Greencoat UK Wind PLC har kjøpt hele Andershaw Wind Farm fra Statkraft - Statkraft vil levere alle drifts- og vedlikeholdstjenester for vindparken til Greencoat UK Wind - Partene har også forlenget en eksisterende kraftkjøpsavtale (Oslo/London, 28. september 2021) Statkraft, Europas største produsent av fornybar energi, har solgt Andershaw Wind Farm i Skottland til Greencoat UK Wind PLC for 121 millioner pund, inkludert kontanter og arbeidskapital. Statkraft startet utviklingen av prosjektet i 2006 og vindparken ble satt i drift i 2017. I forbindelse med salget er det avtalt at Statkraft skal fortsette å drifte anlegget, samt levere alle vedlikeholds- og eieroppfølgingstjenester til Greencoat fram til 2037. En forlengelse av den eksisterende kraftkjøpsavtalen er også avtalt. Vindparken som ligger sør for Glasgow har elleve turbiner, en samlet installert effekt på 36 MW og produserer nok fornybar energi til å dekke forbruket i rundt 26.000 britiske husstander. Eivind Torblaa, Vice Pre
Teledyne to showcase comprehensive portfolio of industrial and scientific imaging technology at Vision 202128.9.2021 08:00:00 CEST | Press release
MUNICH, Germany, Sept. 28, 2021 (GLOBE NEWSWIRE) -- Teledyne, a part of Teledyne Technologies [NYSE: TDY], and a global leader in machine vision technology, will exhibit their newest technologies at Vision 2021 taking place October 5-7, 2021 in Stuttgart, Germany. Teledyne will display the world’s most comprehensive, vertically integrated portfolio of industrial and scientific imaging technology including the latest from newly acquired Teledyne FLIR. Visit the Teledyne booth and explore the unmatched capabilities and products from Teledyne’s DALSA, e2v, FLIR, and Lumenera business units. Your one source for unlimited vision will be on display at Stand 8 B10. Teledyne will participate in the Industrial Vision Days with keynote and technology presentations taking place Wednesday, October 6, 2021: At 9:20 AM join Teledyne DALSA’s Matthias Sonder delivering his presentation entitled “Clarity at High Speed” At 4:20 PM be sure to attend Teledyne e2v’s Sergio Morillas speaking about “Highly r