SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 6-K

Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934

ING Groep N.V.

Amstelveenseweg 500

1081-KL Amsterdam

The Netherlands

     Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F þ      Form 40-F o

     Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T rule 101(b)(1): o

     Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T rule 101(b)(7): o

     Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes o       No þ

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b).

 

 

This Report contains a copy of the following:

(1)

ING Condensed Consolidated Interim Accounts for the Nine Month Period ended September 30, 2007.

4. Introduction

This section includes the ING Group Condensed consolidated interim accounts, prepared in accordance with International Accounting Standard 34 Interim Financial Reporting (IAS 34) and including the review report of Ernst & Young. These condensed consolidated interim accounts are prepared in accordance with International Financial Reporting Standards as adopted by the European Union (‘IFRS-EU’). Other sections of this Group Statistical Supplement are presented on an underlying basis, i.e. excluding gains/losses on divestments, profit from divested units and certain special items. A reconciliation between Underlying net profit and Net profit (attributable to shareholders of parent) in accordance with IFRS-EU is provided in Section 1.1 ‘ING Group: Income Statement’ of this Group Statistical Supplement.

4.1 Condensed consolidated balance sheet* of ING Group as at

		30 September				31 December
(in €mln)		2007				2006
Assets
Cash and balances with central banks			13,397				14,326
Amounts due from banks			51,470				39,868
Financial assets at fair value through profit and loss			339,462				317,470
Investments			296,854				311,581
Loans and advances to customers			529,912				474,437
Reinsurance contracts			6,119				6,529
Property and equipment			6,120				6,031
Other assets			62,679				56,065
Total assets			1,306,013				1,226,307
Equity
Shareholders’ equity (parent)			38,859				38,266
Minority interests			2,176				2,949
Total equity			41,035				41,215
Liabilities
Preference shares			119				215
Subordinated loans			6,502				6,014
Debt securities in issue/other borrowed funds			98,383				107,772
Insurance and investment contracts			271,746				268,683
Amounts due to banks			148,133				120,839
Customer deposits and other funds on deposit			529,476				496,680
Financial liabilities at fair value through profit and loss			166,381				146,611
Other liabilities			44,238				38,278
Total liabilities			1,264,978				1,185,092
Total equity and liabilities			1,306,013				1,226,307

The accompanying notes referenced from 4.5.1 to 4.5.7 are an integral part of these condensed consolidated interim accounts

4.2 Condensed consolidated profit and loss account* of ING Group for

		3 month period								9 month period
		1 July to 30								1 January to 30
		September								September
(in € mln)		2007				2006				2007				2006
Interest income banking operations			20,005				14,606				55,468				43,342
Interest expense banking operations			-17,773				-12,321				-48,791				-36,495
Interest result banking operations			2,232				2,285				6,677				6,847
Gross premium income			11,397				10,992				34,604				35,569
Investment Income			3,136				2,616				9,592				8,060
Commission income			1,222				1,026				3,650				3,203
Other income			865				443				2,003				1,891
Total income			18,852				17,362				56,526				55,570
Underwriting expenditure			11,983				11,511				35,877				36,671
Addition to loan loss provision (release)			69				44				94				15
Other impairments (reversals)			—				4				-20				-1
Staff expenses			2,021				1,764				6,199				5,772
Other interest expenses			312				292				871				881
Other operating expenses			1,734				1,670				5,264				4,765
Total expenses			16,119				15,285				48,285				48,103
Profit before tax			2,733				2,077				8,241				7,467
Taxation			355				431				1,268				1,621
Net profit (before minority interests)			2,378				1,646				6,973				5,846
Attributable to:
Shareholders of the parent			2,306				1,571				6,759				5,590
Minority interests			72				75				214				256
			2,378				1,646				6,973				5,846

		30 September				30 September				30 September				30 September
(in Euro)		2007				2006				2007				2006
Earnings per ordinary share (attributable to shareholders of the parent)			1.08				0.73				3.14				2.59
Diluted earnings per ordinary share			1.07				0.72				3.11				2.56

The accompanying notes referenced from 4.5.1 to 4.5.7 are an integral part of these condensed consolidated interim accounts

4.3 Condensed consolidated statement of cash flows* of ING Group for the nine month period ended

		30 September				30 September
(in € mln)		2007				2006
Net cash flow from operating activities			22,662				8,302
Investments and advances:
Group companies			-875				-116
Associates			-548				-222
Available-for-sale investments			-210,263				-222,372
Real estate investments			-537				-420
Property and equipment			-498				-391
Assets subject to operating leases			-1,092				-553
Investments for risk of policyholders			-40,769				-32,284
Other investments			-158				-146
Disposals and redemptions:
Group companies			985				363
Associates			635				255
Available-for-sale investments			207,241				200,902
Held-to-maturity investments			784				1,220
Real estate investments			191				467
Property and equipment			127				77
Assets subject to operating leases			298				283
Investments for risk of policyholders			36,150				28,106
Other investments			8				23
Net cash flow from investing activities			-8,321				-24,808
Proceeds from issuance of subordinated loans			751				865
Repayments of subordinated loans			—				-600
Proceeds from borrowed funds and debt securities			322,171				219,289
Repayments of borrowed funds and debt securities			-330,784				-203,779
Issuance of ordinary shares			392				3
Payments to acquire treasury shares			-1,614				-839
Sales of treasury shares			10				373
Dividends paid			-3,022				-2,708
Net cash flow from financing activities			-12,096				12,604
Net cash flow			2,245				-3,902
Cash and cash equivalents at beginning of period			-1,795				3,335
Effect of exchange rate changes on cash and cash equivalents			198				-308
Cash and cash equivalents at end of period			648				-875
Cash and cash equivalents comprises the following items
Treasury bills and other eligible bills			6,437				4,427
Amounts due from/to banks			-19,186				-18,084
Cash and balances with central banks			13,397				12,782
Cash and cash equivalents at end of period			648				-875

The accompanying notes referenced from 4.5.1 to 4.5.7 are an integral part of these condensed consolidated interim accounts

 

4.5 Notes to the condensed consolidated interim accounts*

4.5.1 Basis of preparation

These condensed consolidated interim accounts have been prepared in accordance with International Accounting Standard 34 “Interim Financial Reporting”. The accounting principles used to prepare these condensed consolidated interim accounts comply with International Financial Reporting Standards as adopted by the European Union and are consistent with those set out in the notes to the 2006 Consolidated Annual Accounts of ING Group except that as of 1 January 2007, the level at which the adequacy test of the provision for insurance contracts is evaluated has been aligned to the business lines, which is the level at which performance is evaluated and segments are reported.

Previously, if it was determined using a best estimate (50%) confidence level that a shortfall existed in a business unit, then this shortfall was immediately recorded in the profit and loss account. Under the new policy, if it is determined using a best estimate (50%) confidence level that a shortfall exists in a business unit, and there are no offsetting amounts within other business units in the Business Line, then this shortfall is immediately recorded in the profit and loss account. This change in accounting policy has no effect on the financial information presented in these condensed consolidated interim accounts.

IFRS 7 “Financial Instruments: Disclosure” became effective as of 1 January 2007. Also in the first quarter of the year, IFRIC 11 Group and treasury share transactions became effective. None of these recent standards and interpretations have had a material effect on equity or profit for the period. No other new standards became effective in the first nine months of 2007 and recently issued standards that become effective after 30 September 2007 are not expected to have a material effect on equity or profit for the period. ING Group has not early adopted any new International Financial Reporting Standards in this quarter.

International Financial Reporting Standards as adopted by the EU provide several options in accounting principles. ING Group’s accounting principles under International Financial Reporting Standards as adopted by the EU and its decision on the options available are set out in the section “Principles of valuation and determination of results” in the 2006 Consolidated Annual Accounts of ING Group.

These condensed consolidated interim accounts should be read in conjunction with the 2006 Consolidated Annual Accounts of ING Group.

Certain amounts recorded in the condensed consolidated interim accounts reflect estimates and assumptions made by management. Actual results may differ from the estimates made. Interim results are not necessarily indicative of full-year results.

The presentation of, and certain terms used in, these condensed consolidated interim accounts have been changed from the 2006 Consolidated annual accounts of ING Group to provide more relevant information. Certain comparative amounts have been reclassified to conform with the current period presentation. None of the changes are significant in nature.

* Unaudited

4.5.2 Loans and advances to customers by insurance and banking operations

		30 September				31 December
(in € mln)		2007				2006
Insurance operations			28,366				37,606
Banking operations			503,349				440,375
			531,715				477,981
Eliminations			-1,803				-3,544
			529,912				474,437

4.5.3a Loans and advances to customers by type — banking operations

		30 September				31 December
(in € mln)		2007				2006
Loans to or guaranteed by public authorities			27,431				25,953
Loans secured by mortgages			245,126				208,211
Loans guaranteed by credit institutions			3,000				2,408
Other personal lending			24,789				22,906
Other corporate loans			205,056				183,535
			505,402				443,013
Provision for loan losses			-2,053				-2,638
			503,349				440,375

4.5.3b Changes in loan loss provision

		30 September				31 December
(in € mln)		2007				2006
Opening balance			2,642				3,313
Changes in the composition of the group			2				-101
Write-offs			-715				-691
Recoveries			48				86
Increase in loan loss provision			94				103
Exchange differences			-21				-67
Other changes			12				-1
Closing balance			2,062				2,642
The closing balance is included in
- amounts due from banks			9				4
- loan and advances to customers			2,053				2,638
			2,062				2,642

4.5.4 Investment income

3 month period		Insurance								Banking								Total
		1 July to 30 September								1 July to 30 September								1 July to 30 September
(in € mln)		2007				2006				2007				2006				2007				2006
Income from real estate investments			17				44				66				33				83				77
Dividend income			150				173				14				29				164				202
Income from investments in debt securities			1,739				1,471				—				—				1,739				1,471
Income from loans			466				713				—				—				466				713
Realised gains/losses on disposal of debt securities			49				21				—				4				49				25
Impairments of available-for-sale debt securities			-22				2				-5				—				-27				2
Realised gains/losses on disposal of equity securities			592				94				11				4				603				98
Reversals/impairments of available-for-sale equity securities			-1				-7				—				-4				-1				-11
Change in fair value of real estate investments			28				30				32				9				60				39
			3,018				2,541				118				75				3,136				2,616

9 month period		Insurance								Banking								Total
		1 January to 30 September								1 January to 30 September								1 January to 30 September
(in € mln)		2007				2006				2007				2006				2007				2006
Income from real estate investments			54				139				189				94				243				233
Dividend income			569				496				69				113				638				609
Income from investments in debt securities			4,971				4,790				—				—				4,971				4,790
Income from loans			1,620				1,768				—				—				1,620				1,768
Realised gains/losses on disposal of debt securities			-16				-73				133				62				117				-11
Impairments of available-for-sale debt securities			-22				6				-5				—				-27				6
Realised gains/losses on disposal of equity securities			1,682				540				222				56				1,904				596
Reversals/impairments of available-for-sale equity securities			-11				-17				-12				-12				-23				-29
Change in fair value of real estate investments			65				68				84				30				149				98
			8,912				7,717				680				343				9,592				8,060

4.5.5 Segment Reporting

3 month period		Insurance				Insurance				Insurance				Wholesale				Retail				ING												Total
(in € mln)		Europe				Americas				Asia/Pacific				Banking				Banking				Direct				Other				Eliminations				Group
1 July to 30 September 2007
Total income			3,706				7,245				4,036				1,288				1,602				536				908				-469				18,852
Underlying profit before tax			362				480				151				404				526				120				345								2,388
Divestments			418																32																450
Special items (1)															-45				-27								-33								-105
Profit before income tax			780				480				151				359				531				120				312				—				2,733
1 July to 30 September 2006
Total income			3,711				7,178				3,235				1,259				1,495				560				305				-381				17,362
Underlying profit before tax			511				512				168				527				469				177				-238								2,126
Divestments			29												-80								2												-49
Special items																																			—
Profit before income tax			540				512				168				447				469				179				-238				—				2,077

9 month period		Insurance				Insurance				Insurance				Wholesale				Retail				ING												Total
(in € mln)		Europe				Americas				Asia/Pacific				Banking				Banking				Direct				Other				Eliminations				Group
1 January to 30 September 2007
Total income			12,754				21,296				10,673				4,391				4,833				1,667				2,361				-1,449				56,526
Underlying profit before tax			1,483				1,606				463				1,808				1,620				456				670								8,106
Divestments			460																32																492
Special items (2)															-45				-280								-32								-357
Profit before income tax			1,943				1,606				463				1,763				1,372				456				638				—				8,241
1 January to 30 September 2006
Total income			12,203				22,425				10,238				4,292				4,565				1,733				1,099				-985				55,570
Underlying profit before tax			1,617				1,453				481				1,979				1,491				522				-163								7,380
Divestments			104								15				-44								12												87
Special items																																			—
Profit before income tax			1,721				1,453				496				1,935				1,491				534				-163				—				7,467

4.5.6 Acquisitions and Disposals

In the three months ending 30 September 2007

On 3 July 2007 ING announced that has completed the sale of its business unit ING Trust to management and Foreman Capital, an independent investment company based in the Netherlands. The disposal is part of ING’s strategy to focus on its core banking, insurance and asset management businesses. As of the 2 July 2007, ING Trust will operate under a new brand, Orangefield Trust. The transaction has no material impact on the results of ING Group or the Tier-1 ration of ING Bank.

On 27 July 2007 ING announced that it had reached agreement with Santander to acquire its Latin American pension businesses to further strengthen ING’s position in this fast growing market. The mandatory pension fund management companies (AFPs), which are located in certain Latin American countries, will make ING the second largest pension fund manager in Latin America. The purchase is subject to various national regulatory approvals in certain countries and is expected to be completed by early 2008.

On 28 September ING announced that it had completed the sale to P&V Verzekeringen of its Belgian Broker and Employee Benefits insurance business for EUR 750 million, resulting in a capital gain of EUR 418 million. ING will continue to sell life and non-life insurance products in Belgium by focusing on the distribution through its retails banking channels (ING Belgium and Record Bank).

On 30 September ING Group announced that it had reached final agreement with Piraeus Bank on a 10-year exclusive distribution partnership in Greece covering life, employee benefits and pension insurances. In addition, ING will acquire full ownership of ING Piraeus Life, the joint venture between ING and Piraeus Bank. The new distribution partnership fits into ING’s growth strategy in Central Europe of which extending and broadening of distribution is one of the spearheads. The distribution partnership will give ING exclusive access to Piraeus Bank’s network of 305 branch offices in Greece for the distribution of life insurance and pension products. Piraeus Bank is the 4th largest bank in Greece. Combined, ING Greece and ING Piraeus Life occupy the 3rd position in the Greek life insurance market.

Reported in the six month period 1 January to 30 June 2007

ING announced the completion of the acquisition of AZL, an independent Dutch provider of pension fund management services, for EUR 65 million. The acquisition has no material impact on the capital adequacy ratios of ING Group.

ING announced that it had reached a final agreement to sell Regio Bank to SNS REAAL for a purchase price of EUR 50.5 million. The profit on disposal is expected to be about EUR 25 million. On 2 July 2007 ING announced that the sale had been completed, with a profit on disposal of about EUR 25 million for ING Group and an increase of 3 basis points on the Tier-1 ratio of ING Bank.

ING announced that it completed the sale of Nationale Borg, a specialist provider of guarantee insurance. The disposal has no material impact on the capital adequacy ratios of ING Group.

ING announced that it had reached agreement to acquire full ownership of Landmark Investment Co Ltd, the twelfth largest asset manager in Korea. The purchase is subject to regulatory approval.

ING announced that it had reached an agreement to acquire Oyak Bank, a top-ten Turkish Bank, for an amount of EUR 2.0 billion. The acquisition is subject to approval of the relevant authorities and is expected to occur in the fourth quarter of 2007.

4.5.7 Issuances, repurchases and repayment of debt and equity securities in issue

Share buy-back

On 16 May 2007 ING announced a plan to adopt a buyback programme under which it plans to purchase ordinary shares (or depositary receipts for such shares), with a total value of EUR 5 billion over a period of 12 months, beginning in June 2007. In the third quarter the number of (depositary receipts for) ordinary shares repurchased under this program is 31,939,198 (and a total to date of 52,370,698) at an average price of EUR 30.90 (with an average price to date of EUR 31.66), and a consideration of EUR 987 million (Total consideration to date is EUR 1,658). Cumulatively this represents completion of approximately 33% of the repurchase programme.

Delta hedge portfolio for employee options

To rebalance the delta hedge portfolio for employee options ING sold 4,360,000 (depository receipt for) ordinary shares in the third quarter at an average price of EUR 28.98.

In the 9 months to 30 September 2007, ING Group sold 10,970,000 (depository receipt for) ordinary shares at an average price of EUR 31.64. Also in the first 9 months ING Group issued 5,215,790 (depositary receipts for) ordinary ING shares, of which they bought back 4,075,830 at the opening price of EUR 30.48.

As at 30 September 2007 the hedge book holds 44.8 million (depositary receipts for) ordinary ING shares representing 2.0% of the total 2,225 million shares outstanding.

Buy-back of preferences

In the second quarter 2007, ING announced that agreement had been reached with Fortis Insurance Netherlands to buy-back 28,172,583 ‘A’ preference shares of ING at a price of EUR 3.618175 per share or EUR 101,933,335.5 in total, representing approximately 5.5% of the share capital of ING Group.

On 15 October 2007, ING announced that agreement had been reached with ABN AMRO to purchase 28,843,989 depository receipts for “A” preference shares of ING Group. The transaction will be conducted in two tranches. The first tranche consists of 18,843,989 shares, to be purchased at a price of EUR 3.65 per share was completed on 15 October 2007. The second tranche of 10,000,000 shares will be purchased at a price of EUR 3.68 per share on 24 December 2007. The second tranche is subject to the condition that ING does not breach its 10 pct limit of its share capital on its own books, which condition has to be fulfilled before 15 January 2008. Following the repurchase of each tranche, the preference shares will be cancelled.

4.6 Review report

To the shareholders, Supervisory Board and Executive Board

Introduction

We have reviewed the accompanying condensed consolidated balance sheet of ING Groep N.V. (the ‘Company’), Amsterdam, as at 30 September 2007, the related condensed consolidated profit and loss account for the three-month period and the nine-month period then ended, and the related condensed consolidated statement of cash flows and statement of changes in equity for the nine-month period then ended and explanatory notes. Management of the Company is responsible for the preparation and presentation of these condensed consolidated interim accounts in accordance with International Financial Reporting Standards as adopted by the European Union (‘IAS 34’). Our responsibility is to express a conclusion on these condensed consolidated interim accounts based on our review.

Scope of Review

We conducted our review in accordance with Dutch law, including Standard 2410, ‘Review of Interim Financial Information Performed by the Independent Auditor of the Entity’. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the accompanying condensed consolidated interim accounts are not prepared, in all material respects, in accordance with IAS 34.

Amsterdam, 6 November 2007

for Ernst & Young Accountants

C.B. Boogaart

SIGNATURE

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Dated: November 7, 2007