ING Groep NV CEO Steven van Rijswijk expects the bank’s defense industry loan portfolio to double within the next few years. This expansion follows a surge in military spending across European nations. The bank aims to support European resilience and the right of sovereign countries to defend themselves through its financing activities.
The announcement coincided with strong second-quarter results and upgraded financial guidance for 2026 and 2027. ING raised its 2026 total income forecast to more than €24.5 billion. The bank projected its 2027 total income to exceed €26 billion.
Management also increased targets for return on tangible equity to over 15% for 2026. The return on tangible equity target for 2027 now stands above 16%. These revisions reflect the bank's confidence in its ongoing commercial momentum.