Geopolitical risks intensify as ING prepares for Trump's tariff policy

Jin10 Data News November 26th, ING is preparing for the consequences of US President-elect Donald Trump’s promise to impose tariffs on foreign goods, highlighting the growing impact of geopolitical developments on banks around the world. Ljiljana Cortan, Chief Risk Officer of ING, said in an interview that before the election this month, the group weighed how the possible outcomes would change economic, monetary and fiscal policies, as well as their impact on the bank and its clients. With Trump’s secure victory, the Dutch largest bank will now incorporate this factor into its annual risk planning, which is crucial to guiding the bank. She said, ‘If tariffs become our new reality, their impact may not be felt until the end of 2025 or the beginning of 2026, as policy implementation takes time.’ Cortan refused to disclose how much impact ING may face, such as increasing credit loss provisions.