ING vs Apollo
Large Dutch bank serving European consumers and businesses vs Big investment company managing private companies, loans and property. Which is the better buy for your portfolio in November 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 Moves to Offload $500 Million in Data Center Loans Amid Rising Credit Risk Concerns
- The Dutch bank has put up for sale approximately $500 million worth of data-center loans all at once, according to reports citing sources familiar with the matter.
- This auction occurs against a backdrop of growing political and financial scrutiny regarding data center construction and the sustainability of associated debt.
- The transaction reflects wider industry trends where banks are actively distributing data center credit risk to mitigate potential downside from the AI boom.
Apollo Shares Dip on Earnings Miss Despite Record AI-Driven Originations and New European Credit Platform
- Record origination volume reached $114 billion, marking a 50% increase from the previous quarter, with $98 billion tied to new debt investments fueled by demand for AI infrastructure funding.
- The firm launched European Credit Company, a €10 billion private credit platform backed by Abu Dhabi Investment Company and other long-term investors, aiming to nearly double its credit AUM by 2029.
- Despite assets under management climbing to $1.07 trillion on $53 billion of inflows, Q3 earnings per share came in at $2.15, missing the Zacks Consensus Estimate of $2.21 due to higher operating costs.
ING Moves to Offload $500 Million in Data Center Loans Amid Rising Credit Risk Concerns
- The Dutch bank has put up for sale approximately $500 million worth of data-center loans all at once, according to reports citing sources familiar with the matter.
- This auction occurs against a backdrop of growing political and financial scrutiny regarding data center construction and the sustainability of associated debt.
- The transaction reflects wider industry trends where banks are actively distributing data center credit risk to mitigate potential downside from the AI boom.
Apollo Shares Dip on Earnings Miss Despite Record AI-Driven Originations and New European Credit Platform
- Record origination volume reached $114 billion, marking a 50% increase from the previous quarter, with $98 billion tied to new debt investments fueled by demand for AI infrastructure funding.
- The firm launched European Credit Company, a €10 billion private credit platform backed by Abu Dhabi Investment Company and other long-term investors, aiming to nearly double its credit AUM by 2029.
- Despite assets under management climbing to $1.07 trillion on $53 billion of inflows, Q3 earnings per share came in at $2.15, missing the Zacks Consensus Estimate of $2.21 due to higher operating costs.
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 Groep (ING) is scheduled to release its next earnings report on October 29, 2026. The report will cover the third quarter of fiscal 2026. This date is consistent with ING’s established quarterly reporting schedule following its second-quarter results in late July.
Apollo (APO) Next Earnings Date
The next confirmed earnings date for APO is November 3, 2026, scheduled to be released before market opens. This upcoming report will cover the company's third-quarter financial results for the period ending in September 2026. Investors should anticipate this release as it follows the historical pattern of reporting approximately three months after the previous quarter's announcement.
ING (ING) Next Earnings Date
ING Groep (ING) is scheduled to release its next earnings report on October 29, 2026. The report will cover the third quarter of fiscal 2026. This date is consistent with ING’s established quarterly reporting schedule following its second-quarter results in late July.
Apollo (APO) Next Earnings Date
The next confirmed earnings date for APO is November 3, 2026, scheduled to be released before market opens. This upcoming report will cover the company's third-quarter financial results for the period ending in September 2026. Investors should anticipate this release as it follows the historical pattern of reporting approximately three months after the previous quarter's announcement.
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