ING stock holds focus on capital and earnings

ING Group N.V. stock (NL0011821202) is framed by a 15.0% Common Equity Tier 1 ratio at 31 March 2026 and a EUR 2.37 billion net profit in Q1 2026, two figures that define the bank's current balance between capital strength and earnings power.

15.0% capital buffer

ING reported a CET1 ratio of 15.0% at the end of Q1 2026, while risk-weighted assets stood at EUR 348.1 billion on 31 March 2026. The ratio gives the market a clear read on how much room the bank has above regulatory minimums, and the asset base shows the scale behind that cushion.

Net profit came in at EUR 2.37 billion in Q1 2026, down from EUR 2.43 billion a year earlier. That is a decline of EUR 60 million, or about 2.5%, which makes the quarter a test of whether fee income and lending volume can offset pressure from a more demanding rate backdrop.

Profit and income mix

Total income reached EUR 5.64 billion in Q1 2026, compared with EUR 5.48 billion in Q1 2025, an increase of EUR 160 million or 2.9%. Operating expenses were EUR 2.71 billion, while the cost-income ratio was 48.1%, showing that the bank kept a tight grip on costs even as revenues moved higher.

Net interest income was EUR 3.74 billion in Q1 2026, while fees and commissions contributed EUR 1.06 billion. Those two lines matter because they show where ING is still generating core banking earnings, rather than relying on one-off items.

Revenue up 2.9%

For investors, the main question is whether a 2.9% rise in total income is enough to keep earnings stable when net profit slips 2.5% year on year. The answer depends on the mix: the bank's income base improved, but the profit line still narrowed slightly versus Q1 2025.

ING also reported a leverage ratio of 4.8% at 31 March 2026 and a fully loaded Liquidity Coverage Ratio of 144%. Together with the CET1 ratio, those figures indicate that the bank entered the second quarter of 2026 with substantial regulatory and liquidity headroom.

Retail banking scale

ING served 40.6 million customers at 31 March 2026, with retail balances and transaction activity still providing the backbone of the group. That customer scale matters because it supports fee generation, deposit gathering, and cross-selling across the bank's main markets.

The latest quarter also showed 14.0 million primary customers, a metric that helps explain why ING can keep spreading fixed costs across a broad base. A customer-led model is slower than a trading-driven model, but it is also more stable when rates and credit conditions shift.

Capital and liquidity

The 15.0% CET1 ratio and 144% liquidity coverage ratio leave ING with a conservative funding profile relative to minimum requirements. That is the kind of balance sheet detail the market tends to reward when earnings move only modestly from one quarter to the next.

The 4.8% leverage ratio adds another layer to that picture, because it shows the bank is not relying only on risk-weighted capital optics. In a period of uneven profit growth, that combination is often more relevant than a single headline earnings number.

Payments and deposits

ING's transaction-services and payments businesses remain important because they generate fee income that can offset softer margins in lending. In Q1 2026, fees and commissions at EUR 1.06 billion suggested that these lines still had enough volume to matter in the group mix.

Deposits also remain central to the bank's business model, since deposit gathering supports lending and limits reliance on wholesale funding. That makes the Q1 2026 balance sheet reading more than an accounting snapshot; it shows the operating base behind the quarter's EUR 5.64 billion in total income.

Second-quarter lens

The next market read-through will be whether ING can convert its 31 March 2026 capital position into steadier profit growth after the slight year-on-year decline in net profit. With EUR 2.37 billion in quarterly earnings and a 15.0% CET1 ratio already on record, the bank enters that phase with room to absorb a weaker rate or credit mix.

For stock-market readers, the question is not whether ING is well capitalized. It is whether a 2.9% rise in total income can eventually reaccelerate profits faster than the 2.5% decline seen in Q1 2026.

ING stock price snapshot

ING stock trades on Euronext Amsterdam under the main euro listing, and the latest published quarter leaves the shares tied to capital strength rather than a single catalyst. The article uses the Q1 2026 report as the current dated reference point, with the stock priced in EUR on its home market.