ING 1Q2023 Financial Targets Update
Volatile income and expense items
Volatile items (in € mln)
1Q2022
2Q2022
3Q2022
4Q2022
1Q2023
WB/FM - valuation adjustments
-70
90
-15
-2
-10
Capital gains/losses
26
8
-3
0
15
Hedge ineffectiveness¹)
81
-31
-431
-71
45
35
Other items income²)
-68
-155
-218
-319
-69
Total volatile items - income
-31
-89
-668
-392
-29
Incidental items - expenses³)
0
-159
-85
-82
-4
Total volatile items
-31
-247
-753
-473
-34
1)
3Q2022: includes €-288 mln to unwind a macro fair value hedge of deposits in Belgium
2) 1Q2022: €82 mln TLTRO III benefit and a €-150 mln impairment on our equity stake in TTB
2Q2022: €76 mln TLTRO III benefit and €-231 mln due to hyperinflation accounting in Turkey
3Q2022: €71 mln TLTRO III benefit, €-343 mln impact Polish mortgage moratorium, €+100 mln from the transfer of our investment business in France, €-31 mln hyperinflation impact
and €-15 mln impairment on our equity stake in TTB
3)
4Q2022: €-315 mln net TLTRO III impact, €+14 mln from the transfer of our investment business in France and €-17 million hyperinflation impact
1Q2023: €-69 million hyperinflation impact
2Q2022: €97 mln restructuring costs in RB Belgium and €18 mln in Retail OC&GM and €43 mln hyperinflation impact (o.w. €32 mln impairment)
302022: €75 mln for adding interest-on-interest to compensation for certain Dutch consumer credit products and €10 mln hyperinflation impact
4Q2022: €43 mln restructuring costs, €30 mln energy allowances for employees and €9 mln hyperinflation impact
1Q2023: €4 mln hyperinflation impact
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