ING Australia has cemented its position as a challenger to the nation's traditional lending giants, unveiling an 11% rise in net profit to $591 million for the 2025 financial year.
The result underscores the Dutch subsidiary's expansion into the local housing market, where it now commands the sixth-largest mortgage book in the country.
The bank’s annual report reveals a robust operating income of $1.71 billion, fuelled by a total loan book that swelled 12% to $86.4 billion.
The primary engine of this growth remains residential lending; ING’s mortgage portfolio jumped 14% to $72.3 billion, a rate of expansion trending at more than double the industry average.
While wholesale banking loans saw a more modest 3% rise to $10.1 billion, the retail sector remained resilient, with deposits climbing 5% to $55.8 billion across a base of 2.33 million active customers.
CEO Melanie Evans attributed the performance to a disciplined focus on cost management and digital transformation, even as headcount was streamlined by 3.5% to just under 2,000 staff.
"In a tough economic environment, our focus has been on delivering simple products and a reliable digital experience," Evans stated, noting that the bank's wholesale division is now recognised as the leading European bank in Australia.