ING’s Fourth-Quarter Results Were Quite Challenging, Says CFO

The transcript discusses the financial performance of a company in Q4, highlighting challenges such as increased costs due to anti-money laundering program enhancements. Despite these challenges, the company maintains strong commercial momentum with significant customer growth driven by digitization. Future cost management strategies are outlined, with expectations of cost reductions in Belgium and the Netherlands. The company also discusses its growth strategy, focusing on organic growth in Poland and potential acquisitions. The impact of the negative interest rate environment and regulatory changes, including Brexit, are also addressed.

What was the underlying pretax profit reported?

What challenges did the company face that affected their earnings?

How many new primary customers were added to the customer base?

What percentage of customers are now dealing with the company purely on mobile devices?

What are the ongoing efficiency programs expected to achieve in Belgium and the Netherlands?

How does the company plan to manage through the negative interest rate environment?

What is the company's stance on the effectiveness of the ECB's monetary policy?