Who Owns ING Groep Company?

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Who Owns ING Groep?

ING Groep N.V. was formed in 1991 by merging Nationale-Nederlanden and NMB Postbank Groep. This created a unique bancassurance model.

Headquartered in Amsterdam, ING is the largest financial services firm in the Netherlands. As of the close of 2024, the company managed substantial assets, with EUR 691.7 billion in current deposits and EUR 680.2 billion in current credits.

Understanding who owns ING Groep is key to grasping its strategic direction and governance. This analysis explores its ownership evolution and major shareholders.

The company's global presence spans over 40 countries, serving millions of customers with a focus on digital banking. For a deeper dive into the external factors influencing its operations, consider an ING Groep PESTEL Analysis.

ING Groep N.V. was formed in 1991 through the merger of Nationale-Nederlanden and NMB Postbank Groep. This strategic union aimed to create a robust, international financial entity leveraging the bancassurance model. The company's origins are rooted in the combined histories and assets of these established Dutch financial institutions, rather than individual founders.

Merger-Driven Formation

ING Groep's establishment in 1991 was a result of a significant merger, not individual founding efforts. This strategic move combined two major Dutch financial players.

Bancassurance Model Vision

The leadership of the merging entities envisioned a stronger, internationally competitive institution. The bancassurance model was central to this strategic direction.

Roots in Established Institutions

ING's lineage traces back to entities with long histories, including insurance operations from 1845 and a postal savings system from 1881.

Initial Capital Base

Unlike startups, ING began with a substantial combined asset base from its predecessors. It did not require initial venture funding.

Shareholder Structure

Early ownership reflected the combined equity of Nationale-Nederlanden and NMB Postbank Groep. Specific equity splits are not detailed as individual founder stakes.

No Individual Founders

The formation of ING was driven by the collective leadership of its merging parts. There are no singular 'founders' in the traditional sense.

The ownership structure immediately following the 1991 merger saw the shareholders of Nationale-Nederlanden and NMB Postbank Groep become the initial shareholders of the newly formed Internationale Nederlanden Groep. This meant that ING Groep N.V. began its existence as a publicly traded entity, with its ownership distributed among the existing investors of its predecessor companies. The concept of 'founding shares' or individual stakes held by specific individuals at the inception of ING is not applicable, as it was a consolidation of two large, established corporations.

Early Ownership Dynamics

ING Groep's initial ownership was a direct consequence of the merger between Nationale-Nederlanden and NMB Postbank Groep. The existing shareholders of these two entities became the foundational owners of ING.

• The formation was a merger of equals, not a startup with individual founders.
• Ownership was initially distributed among shareholders of the predecessor companies.
• The bancassurance model was a key strategic driver for the merger.
• ING Groep N.V. has always been a publicly traded company since its inception.

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ING Groep N.V.'s ownership structure has evolved significantly, particularly with its transition to a fully integrated public company. Key changes have impacted how its shares are held and how voting rights are exercised by its stakeholders.

ING Groep is a publicly traded entity, with its shares listed on major exchanges including Amsterdam, Brussels, and the New York Stock Exchange through American Depositary Receipts. This public status means that ownership is widely distributed among various investors, with institutional investors holding the largest stakes. The company's market capitalization stood at approximately $68.36 billion as of July 22, 2025, reflecting its significant presence in the financial sector. For the 2024 fiscal year, ING reported an annual revenue of $20.05 billion and a net profit of €7.78 billion. Understanding who owns ING Bank involves looking at these major institutional holders, which significantly influence its corporate governance and strategic direction. The top 25 shareholders collectively own a substantial portion, around 43.03%, of the company.

Key Ownership Shifts

A pivotal moment in ING Groep's ownership history was the formal abolition of its depositary receipt structure in 2016. This move significantly altered the exercise of voting rights.

• The Stichting Aandelen (ING Trust Office) previously controlled a large percentage of voting rights.
• In 2016, this structure, which held 42.88% of voting rights, was dissolved.
• This amendment to the Articles of Association enabled a more direct shareholder influence on company decisions.
• This change is a crucial aspect of ING Groep's corporate governance ownership evolution.

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ING Groep N.V. operates with a dual-board system, featuring an Executive Board and a Supervisory Board. The Executive Board is tasked with the day-to-day management and long-term strategic direction of the company. As of July 2025, Steven van Rijswijk serves as the CEO and Chairman of the Executive Board, supported by Tanate Phutrakul as CFO and Ljiljana Čortan as CRO.

The Supervisory Board's primary function is to oversee the Executive Board's activities and provide strategic guidance. This board is composed entirely of external directors. Current members include Karl Guha as Chairman and Mike Rees as Vice-Chairman, alongside Juan Colombás, Margarete Haase, Lodewijk Hijmans van den Bergh, Herman Hulst, Harold Naus, and Alexandra Reich. The proposed appointments of Petri Hofsté and Stuart Graham to the Supervisory Board were slated for consideration at the 2025 Annual General Meeting, reflecting the company's ongoing governance evolution.

ING Groep's Governance Structure

ING Groep N.V. adheres to a governance model where each ordinary share carries one vote. This structure ensures that voting power is directly tied to share ownership, a common practice for publicly traded companies. The company's approach to corporate governance emphasizes a modern strategy that considers the interests of all stakeholders, aligning with principles of transparency and accountability. Understanding this structure is key to comprehending ING Groep ownership and the dynamics of ING Group shareholders.

• Each ordinary share grants one vote.
• Shareholders appoint and dismiss board members.
• The Supervisory Board nominates board candidates.
• The company aims to balance stakeholder interests.
• This structure influences ING stock ownership dynamics.

The voting power within ING Groep N.V. is distributed based on share ownership, with each ordinary share entitling the holder to one vote. This means that the largest shareholders, whether they are institutional investors or individual investors, have a proportional say in company decisions. The general meeting of shareholders holds the authority to appoint and dismiss members of both the Executive Board and the Supervisory Board, a process typically initiated by a binding nomination from the Supervisory Board. Furthermore, shareholders have the final say on the approval of the annual accounts. There are no indications of special voting rights, dual-class share structures, or golden shares that would grant disproportionate control to any specific entity or individual beyond their equity stake. This straightforward voting mechanism is fundamental to understanding who owns ING Bank and the overall ING Groep ownership. For those interested in the strategic direction, exploring the Growth Strategy of ING Groep provides further context on how these governance principles are applied in practice.

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ING Groep N.V. has been actively managing its capital structure through significant share buyback programs over the past few years. These initiatives aim to enhance shareholder value and optimize the company's financial ratios, reflecting a dynamic approach to its ownership profile.

The company's Common Equity Tier 1 (CET1) ratio stood at 13.6% at the close of the first quarter of 2025, with ongoing buyback programs intended to bring this ratio closer to the target of approximately 12.5%. This strategic capital management is a key aspect of ING Groep ownership trends, alongside the consistent presence of major institutional investors. BlackRock, Inc. held 7.3% of ING's shares as of December 31, 2023, and Capital Research and Management Company, through Capital Research Global Investors, maintained a 6.5% stake as of September 30, 2024. These substantial holdings underscore the significant influence of institutional investors in the ING Groep ownership structure. Leadership transitions, such as the upcoming departure of CFO Tanate Phutrakul in April 2026 after a long tenure, also contribute to the evolving narrative of ING Groep company profile. Furthermore, ING's commitment to sustainability, evidenced by its reconfirmation as 'AA' by MSCI in August 2024 for the fifth consecutive year, aligns with broader industry trends and investor considerations regarding environmental, social, and governance (ESG) factors.

Share Buyback Impact on ING Groep Ownership

ING Groep's active share buyback programs, totaling billions of euros, directly influence its ownership structure by reducing the number of outstanding shares. This can increase the proportional ownership stake of remaining shareholders, including both institutional and individual investors.

Key Institutional Investors in ING Groep

Major institutional investors like BlackRock and Capital Research and Management Company hold substantial percentages of ING Groep shares. Their significant stakes highlight the importance of institutional ownership in the company's overall shareholder base and financial stability.

ESG Ratings and Investor Confidence

ING Groep's consistent 'AA' ESG rating from MSCI signifies a strong commitment to sustainable practices. This rating is crucial for attracting and retaining investors who prioritize environmental, social, and governance factors in their investment decisions.

Leadership Changes and Corporate Governance

Changes in key leadership positions, such as the CFO stepping down, are important considerations for understanding ING Groep's corporate governance. Such transitions can influence investor perception and the company's strategic direction.

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