ING GROEP NV
For the period ended Dec 31, 2023. Filed Mar 8, 2024.
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The yearly report of a company based outside the US. It covers much of what a 10-K does, and may follow accounting rules other than US ones.
FY2023 · Filed Mar 8, 2024
ING$31.82-2.5%Stored close · as of Nov 6, 2026
Contents
Consolidated statement of changes in equity
| in EUR million | Share capital and share premium | Other reserves | Retained earnings | Shareholders' equity (parent) | Non-controlling interests | Total equity |
|---|---|---|---|---|---|---|
| Balance as at 31 December 2022 | 17,154 | -2,192 | 41,538 | 56,500 | 504 | 57,004 |
| Impact of changes in accounting policies 1 | -45 | -45 | -1 | -46 | ||
| Balance as at 1 January 2023 | 17,154 | -2,192 | 41,493 | 56,455 | 503 | 56,959 |
| Net change in fair value of equity instruments at fair value through other comprehensive income | -34 | -1 | -35 | 5 | -30 | |
| Net change in fair value of debt instruments at fair value through other comprehensive income | 53 | 53 | 15 | 67 | ||
| Realised gains/losses on debt instruments at fair value through other comprehensive income reclassified to the statement of profit or loss | 9 | 9 | 0 | 9 | ||
| Changes in cash flow hedge reserve | 997 | 997 | 141 | 1,138 | ||
| Realised and unrealised revaluations property in own use | 2 | 8 | 10 | 0 | 10 | |
| Remeasurement of the net defined benefit asset/liability 33 | -85 | -85 | 0 | -85 | ||
| Exchange rate differences | -132 | -132 | 47 | -85 | ||
| Share of other comprehensive income of associates and joint ventures and other income | -892 | 892 | 0 | 0 | ||
| Change in fair value of own credit risk of financial liabilities at fair value through profit or loss | -39 | 0 | -39 | -39 | ||
| Total amount recognised directly in other comprehensive income net of tax | -123 | 899 | 776 | 209 | 985 | |
| Net result | 336 | 3,804 | 4,140 | 235 | 4,374 | |
| Total comprehensive income net of tax | 213 | 4,703 | 4,916 | 444 | 5,360 | |
| Dividends and other cash distribution 29 | -2,668 | -2,668 | -3 | -2,671 | ||
| Share buyback programme | -2 | -781 | -3,217 | -4,000 | -4,000 | |
| Changes in treasury shares | -8 | -8 | -8 | |||
| Employee share plans | 0 | -7 | -7 | 0 | -7 | |
| Changes in the composition of the group and other changes | -5 | -5 | 0 | -5 | ||
| Balance as at 31 December 2023 | 17,151 | -2,767 | 40,299 | 54,684 | 944 | 55,628 |
1 Changes in policy following the adoption of IFRS 17 and change in policy for non-financial guarantees.
statements. Changes in individual Reserve components are presented in Note 19 'Equity'.
| Contents | Part I | Part II | Part III | Additional information | Financial statements |
|---|
ING Group Annual Report 2023 on Form 20-FF - 241
Consolidated statement of changes in equity - continued
| in EUR million | Share capital and share premium | Other reserves | Retained earnings | Shareholders' equity (parent) | Non-controlling interests | Total equity |
|---|---|---|---|---|---|---|
| Balance as at 31 December 2021 | 17,144 | -540 | 35,462 | 52,066 | 736 | 52,802 |
| Impact IAS 29 on opening balance | 627 | -563 | 64 | 64 | ||
| Balance as at 1 January 2022 | 17,144 | 87 | 34,899 | 52,130 | 736 | 52,866 |
| Net change in fair value of equity instruments at fair value through other comprehensive income | -95 | -23 | -118 | -7 | -126 | |
| Net change in fair value of debt instruments at fair value through other comprehensive income | -412 | -412 | -22 | -435 | ||
| Realised gains/losses on debt instruments at fair value through other comprehensive income reclassified to the statement of profit or loss | -25 | -25 | -1 | -26 | ||
| Changes in cash flow hedge reserve | -2,901 | -2,901 | -257 | -3,158 | ||
| Realised and unrealised revaluations property in own use | -12 | 26 | 15 | 0 | 15 | |
| Remeasurement of the net defined benefit asset/liability 33 | -19 | -19 | 1 | -19 | ||
| Exchange rate differences | 442 | 442 | -5 | 436 | ||
| Share of other comprehensive income of associates and joint ventures and other income | 26 | -26 | 0 | 0 | ||
| Change in fair value of own credit risk of financial liabilities at fair value through profit or loss | 150 | 15 | 165 | 165 | ||
| Total amount recognised directly in other comprehensive income net of tax | -2,847 | -8 | -2,855 | -292 | -3,147 | |
| Net result | 161 | 11,965 | 12,126 | 102 | 12,228 | |
| Total comprehensive income net of tax | -2,686 | 11,957 | 9,271 | -190 | 9,081 | |
| Dividends and other cash distribution 29 | -3,349 | -3,349 | -41 | -3,390 | ||
| Share buyback programme | -2 | 403 | -1,983 | -1,582 | -1,582 | |
| Changes in treasury shares | 4 | 4 | 4 | |||
| Employee share plans | 12 | 15 | 27 | 0 | 27 | |
| Changes in the composition of the group and other changes | -1 | -1 | 0 | -1 | ||
| Balance as at 31 December 2022 | 17,154 | -2,192 | 41,538 | 56,500 | 504 | 57,004 |
statements. Changes in individual Reserve components are presented in Note 19 'Equity'.
| Contents | Part I | Part II | Part III | Additional information | Financial statements |
|---|
ING Group Annual Report 2023 on Form 20-FF - 242
Consolidated statement of changes in equity - continued
| in EUR million | Share capital and share premium | Other reserves | Retained earnings | Shareholders' equity (parent) | Non-controlling interests | Total equity |
|---|---|---|---|---|---|---|
| Balance as at 31 December 2020 | 17,128 | 2,342 | 32,149 | 51,619 | 1,022 | 52,640 |
| Net change in fair value of equity instruments at fair value through other comprehensive income | 101 | -6 | 94 | 2 | 96 | |
| Net change in fair value of debt instruments at fair value through other comprehensive income | -173 | -173 | -13 | -186 | ||
| Realised gains/losses on debt instruments at fair value through other comprehensive income reclassified to the statement of profit or loss | -40 | -40 | -1 | -42 | ||
| Changes in cash flow hedge reserve | -1,603 | -1,603 | -352 | -1,955 | ||
| Realised and unrealised revaluations property in own use | -13 | 11 | -2 | -2 | ||
| Remeasurement of the net defined benefit asset/liability | 95 | 95 | 95 | |||
| Exchange rate differences | 153 | 153 | -10 | 143 | ||
| Share of other comprehensive income of associates and joint ventures and other income | -21 | 18 | -3 | -3 | ||
| Change in fair value of own credit risk of financial liabilities at fair value through profit or loss | 37 | 37 | 37 | |||
| Total amount recognised directly in other comprehensive income net of tax | -1,465 | 23 | -1,442 | -375 | -1,817 | |
| Net result | 191 | 5,760 | 5,951 | 128 | 6,079 | |
| Total comprehensive income net of tax | -1,274 | 5,782 | 4,509 | -247 | 4,262 | |
| Dividends | -2,342 | -2,342 | -40 | -2,382 | ||
| Share buyback programme | -1,604 | -140 | -1,744 | -1,744 | ||
| Changes in treasury shares | -4 | -4 | -4 | |||
| Employee share plans | 16 | 12 | 29 | 29 | ||
| Balance as at 31 December 2021 | 17,144 | -540 | 35,462 | 52,066 | 736 | 52,802 |
Changes in individual Reserve components are presented in Note 19 'Equity'.
| Contents | Part I | Part II | Part III | Additional information | Financial statements |
|---|
ING Group Annual Report 2023 on Form 20-FF - 243
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