ING vs Apollo
Large Dutch bank serving consumers and businesses across Europe vs Large alternative asset manager for private equity and credit. Which is the better buy for your portfolio in June 2026? Plain-English answer below.
ING is a large European retail and commercial bank with a digital-first retail platform spanning dozens of countries, while Apollo Global Management has built a sprawling alternative asset management empire across private credit, private equity, and insurance. Both operate in financial services and compete for global capital, but their business models, return drivers, and regulatory constraints look nothing alike. ING vs Apollo lays out how a traditional deposit-funded bank and an alternative asset manager pursue return on equity, fee generation, and balance sheet growth through fundamentally different financial architectures.
ING is a large European retail and commercial bank with a digital-first retail platform spanning dozens of countries, while Apollo Global Management has built a sprawling alternative asset management ...
Why It’s Moving
ING slips as analysts flag valuation pressure and weaker upside after a strong multi-year run.
- CFRA cut its view on ING to Sell and lowered its target, signaling that the stock’s recent gains may have outrun fundamentals and left less cushion if sentiment weakens.
- Analyst consensus remains mixed, but the latest coverage trends suggest expectations are being reset lower, which can weigh on shares even without a major earnings miss.
- Broader valuation concerns are feeding the move, as investors question whether ING can deliver enough upside from current levels to justify its recent performance.
Apollo draws fresh attention as analysts point to stronger 2026 earnings momentum and double-digit upside expectations.
- Analyst upgrades tied to faster 2026 earnings growth have sharpened attention on Apollo’s ability to convert higher assets under management into stronger fee and performance income, which can lift sentiment toward the stock.
- The latest forecast revisions suggest the market is rewarding Apollo’s scale in credit and private equity, with investors treating its diversified platform as a more resilient earnings engine than a single-strategy asset manager.
- Broader alternatives-sector optimism is supporting the name, as expectations for more stable financing conditions and healthier capital deployment improve the outlook for fundraising, asset inflows, and transaction fees.
ING slips as analysts flag valuation pressure and weaker upside after a strong multi-year run.
- CFRA cut its view on ING to Sell and lowered its target, signaling that the stock’s recent gains may have outrun fundamentals and left less cushion if sentiment weakens.
- Analyst consensus remains mixed, but the latest coverage trends suggest expectations are being reset lower, which can weigh on shares even without a major earnings miss.
- Broader valuation concerns are feeding the move, as investors question whether ING can deliver enough upside from current levels to justify its recent performance.
Apollo draws fresh attention as analysts point to stronger 2026 earnings momentum and double-digit upside expectations.
- Analyst upgrades tied to faster 2026 earnings growth have sharpened attention on Apollo’s ability to convert higher assets under management into stronger fee and performance income, which can lift sentiment toward the stock.
- The latest forecast revisions suggest the market is rewarding Apollo’s scale in credit and private equity, with investors treating its diversified platform as a more resilient earnings engine than a single-strategy asset manager.
- Broader alternatives-sector optimism is supporting the name, as expectations for more stable financing conditions and healthier capital deployment improve the outlook for fundraising, asset inflows, and transaction fees.
Investment Analysis
ING
ING
Pros
- ING showed strong Q3 2025 financial results with net profit of €1.787 billion and an upgraded full-year ROE outlook above 12.5%.
- The bank is advancing digital innovation by launching a generative AI chatbot across six markets, indicating technological leadership.
- ING has solid capital strength with a CET1 ratio of 13.4%, well above regulatory requirements, supporting resilience and growth.
Considerations
- Wholesale banking growth remains subdued, posing a challenge amid competitive and macroeconomic pressures in major European markets.
- Foreign exchange volatility could negatively impact reported profits over coming quarters, adding to earnings uncertainty.
- Ongoing macroeconomic and geopolitical uncertainties may affect loan growth momentum and fee income sustainability.
Apollo
APO
Pros
- Apollo Asset Management has diversified operations with segments in Asset Management, Retirement Services, and Principal Investing.
- The company serves multiple sectors including chemicals, manufacturing, natural resources, and financial services, reducing sector-specific risk.
- Apollo's large market capitalization (around $72 billion) reflects its established position in alternative asset management.
Considerations
- Alternative asset managers like Apollo are sensitive to market volatility which can impact asset valuations and fee income.
- Dependence on performance fees and capital markets activity exposes Apollo to cyclicality and macroeconomic headwinds.
- Regulatory changes in financial services and investment management could add compliance costs and operational challenges.
ING (ING) Next Earnings Date
ING Group’s next earnings date is July 30, 2026. The report is expected to cover Q2 2026 results, based on the company’s typical late-July reporting pattern. This date is still an estimate rather than a formally confirmed announcement date.
Apollo (APO) Next Earnings Date
Apollo Global Management’s next earnings date is August 4, 2026, according to the latest earnings calendar estimates. The report is expected to cover Q2 2026 results. This date is estimated rather than formally confirmed, but it aligns with the company’s typical early-August reporting pattern.
ING (ING) Next Earnings Date
ING Group’s next earnings date is July 30, 2026. The report is expected to cover Q2 2026 results, based on the company’s typical late-July reporting pattern. This date is still an estimate rather than a formally confirmed announcement date.
Apollo (APO) Next Earnings Date
Apollo Global Management’s next earnings date is August 4, 2026, according to the latest earnings calendar estimates. The report is expected to cover Q2 2026 results. This date is estimated rather than formally confirmed, but it aligns with the company’s typical early-August reporting pattern.
Buy ING or APO in Nemo
Zero Commission
Trade stocks, ETFs, and more with zero commission. Keep more of your returns.
Trusted & Regulated
Part of Exinity Group 2015, serving over a million customers globally.
6% Interest on Cash
Earn 6% AER on uninvested cash with daily interest payments.
