ING Groep NV (LTS:0RIC)

€ 16.214 0.17 (1.06%) Market Cap: 54.09 Bil Enterprise Value: 118.25 Bil PE Ratio: 7.81 PB Ratio: 1.02 GF Score: 70/100

Q1 2019 ING Groep NV Earnings Press Conference Transcript

May 02, 2019 / 09:00AM GMT

Release Date Price: €11.31 (-0.46%)

Transcript

Operator

Welcome and thank you for joining the ING First Quarter 2019 Results Call. I'm happy to give the floor to the CEO of ING, Ralph Hamers.

Ralph A. J. G. Hamers

ING Groep N.V. - Chairman of the Executive Board, CEO & Member Management Board Banking

Yes. Thank you, operator. A warm welcome to all of you. Thank you for joining the call this morning. We'll give you an update on the developments and financial results. I'll give you an intro, and then we'll have plenty of time for Q&A. With me are Tanate Phutrakul, our CFO; and Steven van Rijswijk, our CRO.

So looking at the first quarter 2018 -- 2019, it's proven in our strategy delivery while we were hard on improving our processes. We continue to improve the way we manage nonfinancial risk, an important element is that our global Know Your Customer enhancements program is an important element of that in managing nonfinancial risk.

We currently have our 2,500 FTEs working on KYC across the bank in all client segments and all business units. We've rolled out an adverse media screening tool.

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