ING Takes Guidance Quarter by Quarter, Says CFO

The transcript discusses the challenges faced by a bank during Q1 2020, focusing on operational resilience and customer support. It highlights increased risk costs due to a bearish outlook and the suspension of the dividend policy. The bank is assessing various economic recovery scenarios and will provide guidance quarterly. Financial measures to maintain resilience include maintaining a strong capital ratio and liquidity. The bank also addresses its exposure to the oil and gas sector, taking provisions for potential credit impairments.

What measures did the bank take to support its retail customers during Q1 2020?

• Increased interest rates

• Provided payment holidays

• Closed several branches

• Reduced customer service hours

Why is the bank unable to provide full-year guidance on risk costs?

• Due to a lack of data

• Because of uncharted economic territory

• As a result of internal policy changes

• Owing to regulatory restrictions

When does the bank plan to reassess its dividend policy?

• End of Q1

• End of Q2

• End of Q3

• End of Q4

What is the bank's capital ratio cushion over the minimum regulatory requirement?

• 2%

• 3.5%

• 5%

• 4%

How much provision did the bank decide to take for its oil and gas portfolio?

• €75 million

• €41 million

• €20 million

• €60 million