Filing Flows › ING Groep NV (ING) › H2 2025
ING Groep NV (ING) H2 2025 earnings results (H2 2025)
20-F filed Feb 26, 2026
ING Groep NV (ING) reported revenue of $13.3B for the H2 2025 (H2 2025) and +7% from the quarter before. Operating margin was 100.0%, net earnings $4.4B (33.2% of revenue).
ING Groep NV, H2 2025: revenue $13.3B, operating margin 100.0%, net earnings $4.4B, operating cash flow −$16.9B. The chart follows the revenue to costs, profit and cash.
| H2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $13.3B | +7% | — |
| Operating profit | $13.3B | +7% | — |
| Net earnings | $4.4B | +13% | — |
| Operating cash flow | −$16.9B | -261% | — |
What changed
Revenue was €13.3B in H2 2025, up 7% from the previous half.
Operating profit was €13.3B, a 100.0% margin. Net earnings were €4.4B. The effective tax rate was 26.9%.
Operating cash flow was −€16.9B. Non-cash charges added back €0.34B of depreciation and amortization. Working capital and other items used €21.8B. Capital expenditures of €0.23B exceeded it, leaving free cash flow of −€17.1B.
Questions
What was ING Groep NV's revenue in the H2 2025?
ING Groep NV (ING) reported revenue of $13.3B for the H2 2025 (H2 2025) and +7% from the quarter before.
Was ING Groep NV profitable in the H2 2025?
Operating profit was $13.3B (100.0% of revenue) and net earnings $4.4B.
Source: ING Groep NV 20-F on SEC EDGAR.