Intense Customer Rivalry within ING Germany: CEO's Firm Stand - "Growth Not at Any Cost"
In a bid to stay competitive in retail banking and deepen relationships with customers, ING Germany has announced several changes and new offerings. The Dutch bank, which is focusing on competitors like N26, Trade Republic, and Revolut, aims to increase its "Mobile Primary Customers" by one million per year.
Starting August 2025, ING Germany will introduce a Junior Current Account for children aged 7 to 17. This move is part of a broader strategy to attract and retain younger customers and their families. The account, designed to foster financial literacy, will initially be available to parents whose children already have a deposit or savings account at ING Germany. From the beginning of next year, the junior checking account will be rolled out more broadly, also for new customers.
In 2026, ING Germany plans to roll out its own credit card product. This move is part of a broader product roadmap to unlock new revenue streams and increase customer loyalty. The bank is experiencing a 12% year-on-year increase in retail fee income in 2025, driven by digital investment platforms and wealth management tools that appeal to tech-savvy customers.
ING Germany continues to emphasize sustainability, digital innovation, and operational efficiency in its offerings, aligning with broader ESG goals and fostering long-term loyalty through green finance initiatives and mobile-first solutions. The bank's strategic focus on deepening relationships and fee diversification suggests enhancements in these areas are likely as part of the 2026 roadmap.
However, some customers are annoyed that ING Germany does not offer a real credit card for traveling abroad. Despite this, the bank aspires to stay one step ahead of its competitors and become less dependent on interest rates, shifting the balance towards fee income.
The decline in profits, which stood at €381 million in the second quarter of the year, down by about one-fifth from the previous year, is due to falling interest rates. The bank's stated goal is to always remain more of an interest income-driven institution. However, growth at any price is no longer a priority for ING Germany.
As of the end of June, ING Germany had 2.75 million "Mobile Primary Customers". Germany contributes around 30% to the growth of ING Germany's "Mobile Primary Customers". ING Germany exceeded the mark of ten million customers in March.
ING's CEO, Lars Stoy, aims to close gaps in the offer of Europe's largest direct bank with speed. Currently, over 80% of ING's results come from interest income, with the rest from fees. There will continue to be no first and second class customers at ING Germany.
In summary, ING Germany is set to expand its product portfolio with a junior checking account starting August 2025 and a new credit card in 2026, supported by a broader digital and sustainable growth strategy designed to enhance customer loyalty and diversify fee income. The bank's focus on sustainability, digital innovation, and operational efficiency, along with its commitment to financial education for younger customers, positions it well for the future of retail banking.
ING Germany's new product roadmap includes the introduction of a junior checking account for children and a credit card product, both aimed at diversifying fee income and enhancing customer loyalty in the business sector.
To attract and retain younger customers, ING Germany will introduce a junior checking account, part of a broader strategy that emphasizes digital innovation and sustainability in retail banking.
