ING Bank records 3Q14 underlying net profit of EUR 1,123 million

ING Bank 3Q14 underlying net profit of EUR 1,123 million, up from EUR 820 million in 3Q13 and EUR 923 million in 2Q14
-	3Q14 results reflect a strong increase in interest results and lower risk costs at 44 bps of average RWA
-	ING supported customers with EUR 3.3 billion in net lending, funded by EUR 4.3 billion of net funds entrusted
-	Year-to-date underlying return on IFRS-EU equity rises to 11.4%; 3Q14 fully-loaded CET 1 ratio strengthened further to 11.1%
ING Group 3Q14 net result EUR 928 million (EUR 0.24 per share), including special items and Insurance results
-	NN Group has been reclassified as 'held for sale' and 'discontinued operations' effective as of 30 September 2014
-	Change in NN Group classification triggers EUR 403 million write-down of goodwill and other non-current assets
ING accelerates repayment of final tranche of core Tier 1 securities after comfortably passing the AQR and stress test
-	EUR 7.9 billion combined market value of ING's stakes in NN Group and Voya provide substantial financial flexibility
-	Following the ECB's comprehensive assessment, ING accelerates its final payment of state aid to November 2014

CEO STATEMENT

"Since launching our 'Think Forward' strategy seven months ago, we have been working harder than ever to deliver on our customer promises and strategic purpose of empowerment," said Ralph Hamers, CEO of ING Group. "It is encouraging to see our efforts reflected so positively in our strong commercial and financial results for this quarter." "Innovation is happening every day at ING. During the third quarter, our drive to keep getting better led to a steady stream of improvements. In the Netherlands, we added voice recognition technology to our mobile banking app - an exciting new feature that is the first of its kind at any European bank. We introduced a digital wallet service in Italy, following the launch of similar services in Poland and Turkey earlier this year. A new digital platform was launched in Spain, which enhances the customer experience - it encourages clients to think about their future by helping them to analyse and manage their personal finances using customisable visuals. In Commercial Banking, we advanced our goals of making banking easier and enabling clients to stay a step ahead by streamlining our on-boarding process, without compromising on due diligence and regulatory requirements."