How much profit did ING Australia generate in the 2025 financial year?

ING Australia reported a net profit of $591 million for 2025, representing an 11% increase over the previous year. This growth was primarily driven by a surge in residential lending and disciplined cost management, resulting in a total operating income of $1.71 billion.

How fast is ING Australia’s mortgage book growing compared to the market?

ING’s residential mortgage portfolio grew by 14% to reach $72.3 billion, a pace that is more than double the Australian industry average (often referred to as "growth at two times system"). This aggressive expansion has secured its position as the sixth-largest mortgage lender in Australia, trailing only Macquarie and the "Big Four" banks.

What is the current size of ING Australia’s total loan book?

The bank's total loan book increased by 12% to $86.4 billion during the 2025 financial year. While residential mortgages make up the bulk of this figure ($72.3 billion), the total also includes a wholesale banking portfolio which rose 3% to $10.1 billion.

Is ING Australia gaining more retail customers and deposits?

Yes, ING Australia's retail deposit base grew 5% to $55.8 billion, supported by a growing pool of 2.33 million active customers. This suggests that despite high competition for liquidity in the Australian market, the bank is successfully retaining and attracting "sticky" retail funding to support its lending activities.

How is ING Australia managing its operating costs?

Under CEO Melanie Evans, the bank has prioritised "digital transformation" and automated processes to streamline operations. As a result, ING reduced its total headcount by 3.5% to just under 2,000 staff, allowing it to maintain profitability even while investing heavily in its core technology and mobile app.

What is ING Australia’s market position relative to the "Big Four" banks?

ING Australia is now the country's sixth-largest mortgage lender, effectively acting as a primary challenger to CBA, Westpac, ANZ, and NAB. While it lacks the physical branch network of the majors, its digital-first strategy has allowed it to capture significant market share in the residential housing sector.

What are the key bull points for ING Australia following the 2025 results?

The main "bull" case is the bank's ability to grow its mortgage book at twice the market rate while simultaneously increasing net profit by double digits.

What are the primary risks or "bear" points for ING Australia?

A key risk is the bank's heavy concentration in residential mortgages ($72.3 billion of its $86.4 billion book), making it highly sensitive to Australian housing price fluctuations and interest rate cycles.

Financial

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ING Australia profits hit $591M as mortgages soar

Written by Liezl GambePublished Apr 1, 2026, 2:16 AM

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.