The FINANCIAL -- Jan Hommen, CEO of ING Group, will address the Goldman Sachs European Financials Conference in Brussels, Belgium.

According to ING Groep, in his presentation Mr Hommen will demonstrate how ING is making progress on restructuring the company and the divestment programme notwithstanding the challenging economic environment and changing regulatory landscape.

Amidst these circumstances ING continues to focus on its core priorities of generating capital, maintaining its strong funding position and further improving its balance sheet in order to deliver competitive returns on a higher capital base. ING has delivered EUR 25 billion of balance sheet integration initiatives since 2011, targeting a further EUR 30 billion until 2015.

Mr Hommen will reiterate ING continues to selectively de-risk its investment portfolio as markets remain volatile, and risk costs are expected to remain elevated given the weakening economic environment in Europe.

On repayment of the Dutch State, Mr Hommen will reaffirm ING’s commitment to do so as soon as possible on terms acceptable to all stakeholders and provided that ING maintains strong capital ratios. ING aims to repay another tranche this year using the proceeds from the sale of ING Direct USA and last year’s liability management transaction.

Jan Hommen will conclude his presentation by focusing on ING Bank’s previously announced Ambition 2015 programme that should lead to an attractive ROE of 10-13% under Basel III regulation and a cost-income ratio of 50-53% by 2015.

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