The decision to remunerate savings has allowed ING Spain to increase its customer base. At the end of June, the main clients exceeded 3 million, 5.7% more than a year ago, and the total fell to 4.13 million, after experiencing growth of 3.5%. The Salary Account, which pays 1.25%, exceeds 2.5 million, while the NoCuenta Account, 500,000 users.
The bank, which at the group level presented a profit of 3,746 million euros in the first half of 2023, which represents an increase of 133.3% compared to a year ago, has increased its deposit base to 46,345 million euros , 9% more than in the same period of the previous year, of which 33,567 million euros have been remunerated in savings and term deposit accounts. Precisely, ING entered the war for liabilities by remunerating 3 months at 2.5%.
Likewise, the entity has promoted investment products in Spain, especially those aimed at the most conservative savers and this has become a growth of 11% compared to the same quarter of 2022, reaching 14,760 million assets under management. On the other hand, ING’s financing activity has grown by 1% compared to the same period of the previous year to 25,328 million euros and reaching a market share of 7% in mortgages. By type of mortgage, 50% mixed, 43% variable and 7% fixed were signed.
At group level, the turnover of the Dutch bank improved by 22% up to June and reached 11,325 million euros. In the second quarter, ING Group obtained a net profit of 2,155 million euros, 82.9% more than between April and June 2022. As of June 30, the CET1 Tier 1 capital ratio was 14.9%, a tenth more than at the end of the first quarter and two above the level of a year earlier.
After the publication of the results, ING announced that it raised the dividend from 0.17 euros last year to 0.35 euros per share. The dividend will be paid on August 14.
