ING vs BNY
Large Dutch bank serving European consumers and businesses vs Established global custodian and asset administrator. Which is the better buy for your portfolio in October 2026? Plain-English answer below.
ING operates as a pan-European digital banking giant with retail, corporate, and investment banking arms, while BNY functions primarily as a custodian and asset servicer for institutional clients managing trillions of dollars in assets. Both are systemically important financial institutions operating under intense regulatory scrutiny, and both have restructured their business mixes over the past decade to sharpen returns. ING vs BNY dissects fee income growth, return on tangible equity, and which institution's business model is better insulated from the credit and rate cycle volatility that defines banking.
ING operates as a pan-European digital banking giant with retail, corporate, and investment banking arms, while BNY functions primarily as a custodian and asset servicer for institutional clients mana...
Why It’s Moving
ING Groep Analysts Eye Q3 Beat and Margin Strength Despite Downside Warnings
- Analysts anticipate a potential Q3 earnings beat that could serve as a key re-rating catalyst for the stock.
- The bank's core mortgage segment is gaining market share against competitors, supported by strong demand in the European housing sector.
- Pricing discipline and digital engagement are cited as primary drivers supporting future margins, even amid deposit rate hikes by Dutch rivals.
BK’s growth push gains momentum, but higher spending and rates keep the outlook volatile.
- At the September 14 Barclays conference, management highlighted stronger margins, 4.5% organic growth in the first half and a 39% pretax margin, reinforcing the case that the turnaround is moving toward expansion.
- BNY raised full-year expense-growth guidance to 6%-7% from 4%, citing revenue-linked spending, AI and data investment, Treasury accounts and regulatory work; that boosts growth capacity but creates near-term pressure on operating leverage.
- The company raised its prime lending rate by 25 basis points to 7.00%, effective September 17, a move that may support lending income while also increasing borrowing costs for customers; Barclays separately assigned the shares a Buy rating during the week.
ING Groep Analysts Eye Q3 Beat and Margin Strength Despite Downside Warnings
- Analysts anticipate a potential Q3 earnings beat that could serve as a key re-rating catalyst for the stock.
- The bank's core mortgage segment is gaining market share against competitors, supported by strong demand in the European housing sector.
- Pricing discipline and digital engagement are cited as primary drivers supporting future margins, even amid deposit rate hikes by Dutch rivals.
BK’s growth push gains momentum, but higher spending and rates keep the outlook volatile.
- At the September 14 Barclays conference, management highlighted stronger margins, 4.5% organic growth in the first half and a 39% pretax margin, reinforcing the case that the turnaround is moving toward expansion.
- BNY raised full-year expense-growth guidance to 6%-7% from 4%, citing revenue-linked spending, AI and data investment, Treasury accounts and regulatory work; that boosts growth capacity but creates near-term pressure on operating leverage.
- The company raised its prime lending rate by 25 basis points to 7.00%, effective September 17, a move that may support lending income while also increasing borrowing costs for customers; Barclays separately assigned the shares a Buy rating during the week.
Investment Analysis
ING
ING
Pros
- ING Groep demonstrated strong financial performance in Q3 2025, with significant growth in net interest income and fee income, lifting net profit to €6 billion over the past four quarters.
- The bank upgraded its full-year return on equity outlook to over 12.5%, reflecting improving profitability and operational efficiency.
- ING has launched an AI chatbot across six markets, showing its commitment to technological innovation and sustainable finance volumes increased by 29% year-on-year.
Considerations
- Despite strong performance, ING Groep scores only 2 out of 6 on valuation checks, indicating potential concerns regarding current share price sustainability or overvaluation.
- The European Central Bank’s 2025 Supervisory Review increased ING’s capital requirements, including a higher CET1 and leverage ratio, which may pressure capital allocation and future returns.
- Although the loan book is expanding, there is exposure to economic cyclicality and regulatory risks inherent in European banking regulation and macroeconomic conditions.
BNY
BK
Pros
- BNY Mellon benefits from a diversified business model focused on asset servicing, wealth management, and investment management, reducing reliance on interest rate fluctuations.
- The company holds a strong capital position with prudent risk management practices, enhancing its stability and resilience in volatile market conditions.
- BNY Mellon has consistent revenue streams from fee-based services and is positioned to benefit from growth in global asset management and custody markets.
Considerations
- BNY Mellon faces pressure from low interest rate environments, which can affect net interest income and overall profitability in certain segments.
- The company operates in a highly competitive industry with significant regulatory compliance costs and evolving technological demands.
- Exposure to market volatility and economic cycles can impact fee income and asset valuations, introducing variability in earnings and growth potential.
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.
BNY (BK) Next Earnings Date
Bank of New York Mellon has not yet confirmed its next earnings date, but based on the historical pattern of reporting approximately three months after the previous release, the expected timing is mid-January 2027. The upcoming report will cover the fourth quarter and full-year results for fiscal year 2026. Investors should monitor official announcements for the precise scheduling details as the date approaches.
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.
BNY (BK) Next Earnings Date
Bank of New York Mellon has not yet confirmed its next earnings date, but based on the historical pattern of reporting approximately three months after the previous release, the expected timing is mid-January 2027. The upcoming report will cover the fourth quarter and full-year results for fiscal year 2026. Investors should monitor official announcements for the precise scheduling details as the date approaches.
Buy ING or BK 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.
