ING Australia hits $591 million profit as mortgages soar
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The news: ING Australia’s net profit soared 11% in 2025 to $591 million as the subsidiary of the global Dutch bank continues to make inroads into the Australian mortgage market.
The numbers: In its Australian annual report, published on Wednesday, ING reported operating income of $1.705 billion. Its total loan book grew 12% to $86.4 billion, including $72.3 billion in residential mortgages, up 14% on the previous year. Wholesale banking loans rose 3% to $10.1 billion.
Retail deposits increased 5% to $55.8 billion across ING’s 2.33 million active customers. Headcount fell 3.5% to just under 2,000 staff.
What they said: ING Australia chief executive Melanie Evans said it was a strong result as the bank managed costs and continued to invest in core technology.
“In a tough economic environment, our focus has been on delivering banking that genuinely helps people get ahead, through simple products, strong value and a reliable digital experience,” Evans said.
“This was underpinned by strong growth in our residential mortgage portfolio, growing at more than two times system, continued uplift in active customers, and the strong contribution of our Wholesale Bank, which was recognised as the number one European bank in Australia.”
The context: Since launching in Australia in 1999, ING has grown strongly and now has the country’s sixth-largest mortgage book, behind the big four banks and Macquarie.
The bank is now in the third year of a transformation strategy focused on stronger security, more automated processes and the rollout of its new mobile app.
The source: ING Australia
