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2019年度荷兰国际银行年度报告 - 荷兰国际银行（英文版）（449页）.pdf

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2019年度荷兰国际银行年度报告 - 荷兰国际银行（英文版）（449页）.pdf

2、e 3 CEO statement 8 The world around us 13 Our strategy and how we create value 21 Innovation and transformation 28 Our business 41 Our people 66 Developments in risk and capital management 73 Composition of the Executive Board and Management Board Banking 81 ING shares 83 About this report 86 Indep

3、endent auditors assurance report 89 Corporate governance Chairmans statement 92 Report of the Supervisory Board 96 Corporate governance 109 Dutch Corporate Governance Code Statement by the Executive Board 129 Report of the ING Continuity Foundation 131 Conformity statement 132 Remuneration report 13

4、3 Works councils 161 Risk Management Risk management 162 Consolidated financial statements Consolidated statement of financial position 252 Consolidated statement of profit or loss 253 Consolidated statement of comprehensive income 255 Consolidated statement of changes in equity 256 Consolidated sta

5、tement of cash flows 259 Notes to the consolidated financial statements 261 Parent company financial statements Parent company financial statements 385 Other information and appendices Independent auditors report 400 Articles of Association - Appropriation of results 407 Risk factors 408 Non-financi

8、r of countries with number one ranking, rolling average) Total number of Retail Banking primary relationships (year-end) Climate Finance2 (lending outstanding, year-end) Net result attributable to ING Groups shareholders Underlying net result Banking3 2018 7 2017 7 2018 12.5 2017 11.4 2018 16.5 2017

9、 14.6 2018 4,703 2017 4,905 2018 5,389 2017 4,957 7 13.3 18.7 4,781 4,781 million billion million million Social Impact Finance2 (lending outstanding, year-end) Sustainable Investment services (year-end) Number of customers that felt financially empowered1 Underlying result before taxation Banking3

10、of which underlying income3 2018 0.8 2017 0.5 2018 6.3 2017 4.8 2018 25.0 2017 25.4 2018 7,524 2017 7,199 2018 18,088 2017 17,704 0.7 9.3 25.9 6,834 18,306 billion billion million million million Underlying Human Capital Return on Investment indicator3 Retail Banking system availability in the Nethe

11、rlands and Belgium1 Wholesale Banking system availability1 of which underlying operating expenses3 of which addition to loan loss provision 2018 2.51 2017 2.51 2018 99.7 2017 99.7 2018 99.9 2017 100 2018 9,907 2017 9,829 2018 656 2017 676 2.38 99.7% 99.9% 10,353 1,120 million million Performance hig

13、reholders equity (year-end) Customer lending4 (year-end) Customer deposits (year-end) Risk-weighted assets (year-end) 2018 887 2017 846 2018 50,9 2017 50,42018 597 2017 5742018 556 2017 5402018 314 2017 310 892 53.8 616 574 326 billion billion billion billionbillion Our financial goals Common equity

14、 Tier 1 ratio ING Group Leverage ratio ING Group5 Underlying return on equity ING Group3 Underlying cost/ income ratio3 Dividend per share 2018 14.5 2017 14,7 2018 4.4 2017 4.72018 11.2 2017 10.22018 54.8 2017 55.52018 0.68 2017 0.67 14.6% 4.6% 9.4% 56.6% 0.69 13.5 % (Basel IV) 4% 10-12% 50-52% Prog

15、ressive dividend Share information Net result per shareShareholders equity per share (end of period) Price/earnings ratio Price/book ratio (end of period) 2018 1.21 2017 1.26 2018 13.09 2017 12.972018 7.8 2017 12.12018 0.72 2017 1.18 1.23 13.80 8.7 0.77 1 Subject to reasonable assurance by KPMG. Thr

16、oughout the report indicated with an . See Independent auditors assurance report, page 89. 2 A description of INGs Climate Finance and Social Impact Finance, see . 3 Underlying figures are non-GAAP measures. These are derived from figures according to IFRS-EU by excluding the impact from special ite

17、ms and Insurance Other. See page 446 for a reconciliation between GAAP and non-GAAP figures. 4 Customer lending is defined as: loans something to help people accomplish their personal and business goals, like buying a place to live, paying for education, or investing to grow their business. Winners

18、will be those with a superior digital experience, a strong trusted brand, and the ability to leverage a large customer base to attract partners to their platforms. The successful platforms take the effort out of managing finances, offering personalised, real-time advice and a suite of products and s

19、ervices to cover all financial and other relevant needs. At ING, our platform strategy starts with the ambition to create a uniform and borderless ING experience complemented by beyond banking and third-party offerings that add value for users. And a platform that is ready for open banking that can

20、be a go-to platform offering the best financial services, whether from ING or from competitors. In 2019, we took an important step to create this beyond banking platform when we launched the first protection products in a number of markets as part of our global insurance partnership with AXA. The op

21、en nature of platforms means they have the potential to facilitate the whole customer journey around major life events. In 2019, ING and partners launched real-estate marketplace Scoperty across Germany. This proposition based on high-quality data and machine learning connects buyers and sellers wit

22、h the aim to offer consumers more transparency and a broader range of offerings by showing 40 million real estate properties in Germany. Transforming for the future To achieve our platform ambition, were transforming ING. That means creating a uniform and modular technology foundation that helps us

23、share innovations quickly across our businesses and that can be scaled up easily to accommodate growth, as well as open architecture so we can connect to third-party platforms and they with us. Were implementing one set of processes and procedures, and were pursuing one approach to how we store and

24、analyse data, a key resource for understanding customers and anticipating their needs. And were uniting in one way of working across ING to increase effectiveness and reduce the time it takes to bring innovations to the customer. ING Group Annual Report 2019 10 Contents | Report of the Executive Boa

26、 bring disruptive ideas to market by combining INGs knowledge and network with the knowledge and skills of others. Im very proud of the major step in this direction that we took in 2019 with the opening of the Cumulus Park innovation district in Amsterdam Zuidoost, which is also where ING is located

27、. This initiative of ING together with the city of Amsterdam and locally based educational institutions offers businesses, academics and innovators workspaces designed to co-create, learn, research and inspire in a collaborative atmosphere around the themes of urbanisation and digital identity. And

28、through ING Labs in Amsterdam, Brussels, London and Singapore were also collaborating with fintechs and others on disruptive innovations in value spaces that best match the expertise and ecosystems in those locations. A safe and secure bank The easy, 24/7 access to financial services that digitalisa

29、tion makes possible also poses challenges. The number of digital contact moments with customers is rising exponentially in 2019 they came to four billion for ING alone. This requires banks, which traditionally focus on financial risk management, to sharpen non-financial risk management skills in ord

30、er to continue to play their crucial role as gatekeepers ensuring that the financial system is better protected from fraud and other criminal activities. At ING, this took the form of a continued focus in 2019 on our know your customer (KYC) enhancement programme. File enhancement and transaction mo

31、nitoring look-back activities resulted in improved reporting of suspicious activities to authorities in various countries. Across ING we made progress raising awareness, improving the skills and behaviour of our staff and resolving issues in executing KYC procedures. And we also started implementing

32、 structural solutions to build sustainable KYC operations and made promising strides in pilots where we apply artificial intelligence, machine learning and other technologies to increase the efficiency and effectiveness of compliance and anti-money laundering procedures. I am convinced that masterin

33、g these skills will be vital for maintaining trust in the digital bank of the future. At the same time we welcome steps by authorities to achieve wider cooperation between banks, law enforcement and regulators on national and European levels to strengthen the resilience of the whole financial system

34、 when it comes to fighting financial economic crime. And we view continued progress on the Banking Union in Europe as important to achieve this cooperation. Along with the challenge of financial economic crime, increasing digitalisation presents many other challenges as well as opportunities in area

35、s like digital identity, privacy, data exchange, code of conduct on data usage, and storage and protection of data. Many of these issues are addressed in various ways by regulators, governments and industry guidelines, but these are piecemeal measures and they struggle to keep up with the pace of de

36、velopments. I see an increasing urgency to develop a data framework encompassing all these areas, particularly at the European level. At a time when digiitalisation is dissolving the boundaries between sectors, such a framework would promote innovation by establishing common standards that apply to

37、all parties across industries. We stand ready to play our part in the discussions to develop this framework, which we believe would contribute significantly to a competitive digital environment in Europe. Performance Looking back at 2019, we see a year of solid commercial performance despite the cha

38、llenging rate environment, geopolitical uncertainties and an increasingly complex and demanding regulatory environment. ING recorded a full-year 2019 net profit of 4,781 million, an increase of 1.7 percent year-on-year. The underlying net result, which in 2018 is excluding the settlement impact with

39、 the Dutch authorities and the net result from Insurance Other, dropped 11.3 percent. Net growth in our core lending book came to 17.2 billion, or 2.9 percent, and net growth in customer deposits was 23.4 billion in 2019. The lending growth was mainly realised in our retail markets, whereas net core

41、creased 1.2 percent as pricing discipline and business growth, as well as higher net fee and commission income, helped counter the pressure of negative interest rates. We recorded a 4.5 percent rise in underlying expenses for 2019, which included a marked increase in regulatory costs, as well as hig

42、her costs related to our KYC enhancement programme. Risk costs increased, but remained below INGs through-the-cycle average. Based on the Stage 3 ratio and the total outstandings as earmarked at risk quality of the loan book improved in 2019. INGs full-year underlying return on equity declined to 9.

43、4 percent, from 11.2 percent in 2018. The CET1 ratio remained strong at 14.6 percent, despite our having already taken part of the expected supervisory impact on risk-weighted assets in the fourth quarter of 2019. The Board proposes to pay a full-year 2019 cash dividend of 0.69 per ordinary share, s

44、ubject to shareholder approval at the Annual General Meeting in April 2020. This is in line with our goal of paying a progressive dividend over time, while ING is committed to maintaining a CET1 ratio of around 13.5%, taking into account potential RWA inflation from regulatory developments. Going fo

45、rward, ultra-low and negative interest rates, particularly in Europe, are challenging banks to maintain profitability as they try to mitigate the effects of lower rates on margins while balancing this with the interests of customers, particularly retail savings customers. At the same time, the econo

46、mic stimulus effect is reversing as people save more to counter the impact of low rates on their savings and retirement goals. This makes it clear that new thinking is required from policymakers overseeing interest rate, spending and tax policies in order to keep the economy and financial sector on

47、a sustainable footing. FY2019 ING Group net profit 4,781 million FY2019 underlying return on equity 9.4 % FY2019 net core lending +17.2 billion FY2019 net customer deposits +23.4 billion Financing a sustainable future The issue of climate change acquired increased urgency in 2019. At ING we strongly

48、 believe that through our decisions in conjunction with customers about what we will or wont finance, banks can play a role in influencing the direction and pace of societys transition to a more sustainable, low-carbon economy. It was therefore important for me on behalf of ING as a founding signato

49、ry to join more than 130 other banks from around the world in commiting to the Principles for Responsible Banking at the UN Climate Action Summit in New York. The principles encourage banks to align their strategies ING Group Annual Report 2019 12 Contents | Report of the Executive Board | Corporate governance | Risk Management | Con

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2019年度荷兰国际银行年度报告 - 荷兰国际银行（英文版）（449页）.pdf

2019年度荷兰国际银行年度报告 - 荷兰国际银行（英文版）（449页）.pdf