Analyst Consensus ?
ConsensusBuy17 ratings
Bullish1164.7%
Neutral635.3%
Bearish00.0%
ING Groep N.V. · ING · FY2025 Q1 · Calendar Q2 2025
ING Q1 2025: strong deposits and fees, with an EPS shortfall
The supplied analysis points to continued commercial momentum from deposits, mortgages and fee-generating services, balanced by an EPS miss and sensitivity to interest-rate-driven margins. The evidence supports resilience, but does not remove execution and macroeconomic risks.
Reported Before market openNYSEFinancial Services
$89.46B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.53
Consensus $0.61
EPS surprise
-13.1%
Reported versus consensus
Reported revenue
$6.36B
Consensus $6.35B
Revenue surprise
+0.1%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+7.0%
Event window
SPY move
+1.5%
Same window
Abnormal move
+5.5%
Stock minus SPY
Volume
0.8×
Versus trailing sessions
Subsequent drift
+3.7%
Up to 20 sessions
INGSPY benchmark
Ask FN2 about ING FY2025 Q1
Transcript, numbers and history already loaded
Why did ING rise 7.0% after missing EPS estimates in FY2025 Q1?What changed in ING's guidance and outlook in FY2025 Q1?Give me the bull and bear case for ING after FY2025 Q1 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior-quarter analysis, the current analysis describes strong German deposit inflows, mortgage expansion and 10% year-over-year fee growth. ING maintained its outlook; EPS came in below consensus while revenue was marginally above it.
Guidance delta
Management maintained its outlook, according to the supplied transcript analysis; no guidance increase or reduction is identified.
Key takeaways
- The analysis reports €23bn of core deposit inflows from a targeted German campaign and €6bn mortgage-book expansion.
- Fee income rose 10% year over year, supported by insurance and investment product fees.
- EPS was below consensus, while revenue was marginally above consensus; management maintained its outlook.
Management priorities
- Continue digitisation of retail and business banking, including the European business-banking rollout.
- Pursue selective acquisitions to address product gaps, alongside the disclosed Van Lanschot Kempen stake.
- Expand sustainable finance and climate-target initiatives; execute the planned second-half 2025 risk-transfer trade.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$31.46Previous close
$22.5Low
$22.5Average
$22.5High
Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Nov 2, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Barclays | Overweight | Equal Weight | Upgrade | Jul 15, 2025 |
| RBC Capital | Sector Perform | Outperform | Downgrade | Dec 2, 2021 |
| Goldman Sachs | Neutral | Buy | Downgrade | Nov 26, 2021 |
| CFRA | Strong Buy | Strong Buy | Maintain | May 11, 2020 |
| Morgan Stanley | Equal Weight | Underweight | Upgrade | Nov 2, 2018 |
| Jefferies | Buy | Buy | Maintain | Apr 19, 2017 |
| Independent Research | Hold | Buy | Downgrade | Dec 7, 2016 |
| Bank of America | Buy | Buy | Maintain | Jun 30, 2015 |
| B of A Securities | Buy | Neutral | Upgrade | Jun 30, 2015 |
| Deutsche Bank | Hold | Buy | Downgrade | Apr 29, 2015 |
| Macquarie | Outperform | Neutral | Upgrade | Dec 17, 2014 |
| HSBC | Overweight | Neutral | Upgrade | Aug 11, 2014 |
| KBC Partners | Hold | Hold | Maintain | Jul 11, 2013 |
| UBS | Buy | Buy | Maintain | Jun 18, 2013 |
| Exane BNP Paribas | Outperform | Neutral | Upgrade | Apr 4, 2013 |
| JP Morgan | Overweight | Overweight | Maintain | Mar 19, 2013 |
| Citigroup | Buy | Neutral | Upgrade | Apr 18, 2012 |
Named analyst price targets
Upside is calculated against the persisted previous close $31.46. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Berenberg Bank | Hugh Moorhead | $22.5 | $17.89 | -28.5% | Aug 29, 2024 |
Track every rating change on ING the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationING Groep N.V. functions as a prominent global financial services institution, offering a comprehensive suite of banking products and solutions across a vast international footprint. Its operations extend throughout the Netherlands, Belgium, Germany, Poland, other European countries, North America, Latin America, Asia, and Australia. The company organizes its business into six distinct segments: Retail Banking focused on the Netherlands, Belgium, Germany, and other regions, in addition to its Wholesale Banking and Corporate Line Banking divisions. ING facilitates various client deposits, including checking and savings accounts, and extends credit options to both businesses and individual consumers.…
Historical context
All ING earningsFinancial Services peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| CBOE Cboe Global Markets, Inc. | FY2026 Q3 · Calendar Q4 2026 | +5.8% | +6.8% | Cboe posts strong Q3 as options growth and new products advance |
| NWG NatWest Group plc | FY2026 Q3 · Calendar Q4 2026 | +2.0% | -9.0% | NatWest maintains guidance as Q3 growth and capital remain strong |
| ERIE Erie Indemnity Company | FY2026 Q3 · Calendar Q4 2026 | +2.1% | +5.3% | Erie pairs resilient demand initiatives with thin underwriting margins |
| COIN Coinbase Global, Inc. | FY2026 Q3 · Calendar Q4 2026 | +1189.2% | -10.6% | Coinbase offsets lower spot trading with prediction markets and AI agents |
| TPG TPG Inc. | FY2026 Q3 · Calendar Q4 2026 | +4.3% | +7.5% | TPG raises FRE margin outlook as capital formation accelerates |
| AJG Arthur J. Gallagher & Co. | FY2026 Q3 · Calendar Q4 2026 | +0.3% | +2.9% | AJG: Q3 growth and AssuredPartners synergies support outlook |
Latest beats and misses
Who reports nextBeat on EPS
- CHDFY2026 Q3 · October 30, 2026+2.2% EPS+1.2% move
- AZNFY2026 Q3 · October 30, 2026+7.3% EPS+7.0% move
- FRTFY2026 Q3 · October 30, 2026+3.9% EPS-1.1% move
- CVXFY2026 Q3 · October 30, 2026+8.4% EPS+1.8% move
- BTSGFY2026 Q3 · October 30, 2026+14.2% EPS+11.1% move
- EXCFY2026 Q3 · October 30, 2026+10.4% EPS+0.5% move
Missed on EPS
- GLPIFY2026 Q3 · October 29, 2026-11.5% EPS-1.3% move
- LYBFY2026 Q3 · October 30, 2026-1.2% EPS+5.0% move
- CCJFY2026 Q3 · October 30, 2026-101.4% EPS-7.9% move
- VALEFY2026 Q3 · October 29, 2026-24.6% EPS+1.9% move
- DLR-PLFY2026 Q3 · October 29, 2026-8.4% EPS— move
- DLR-PKFY2026 Q3 · October 29, 2026-8.4% EPS— move
Get the ING recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2025-05-02T14:06:49.430363+00:00
- Polygon adjusted daily market bars · 2026-11-02T07:10:45.366384+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-11-02T07:10:45.363363+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-11-02. For educational purposes only; not investment advice.