Steven van Rijswijk: Sorry, the second question?
Benjamin Goy : Generative AI. Artificial intelligence.
Steven van Rijswijk: You want me to talk about AI. Okay. So let me start with the second one. So we currently do use AI in a number of our processes such as contact centers or collections or marketing propensity models, for example. That helps us. And that can also help better decision-making if you do it in a fair and transparent way. That’s the most important thing, especially with AI. When we talk about generative AI, yeah, that is new. Currently, in ING, we have forbidden people to use generative AI in the ING processes. And we will, in a sandbox, experiment with two initiatives just completely separate from anything else to better understand what the benefit is because it could have a benefit, but also how we can control it.
And before we are able to control it, we will not roll this out in the organization. We first will separately test it, as we always do with innovations, and then see to our extent we will roll it out in the organization. With regards to the capital, yes the — with regards to the RWA, there are two elements. I will answer one of them. If you ask, are you keeping a buffer in the RWA, I think what you could — you may mean is, to what extent are you taking countercyclical buffers into account in your capital levels, in this case, around 12.5%, and we have. So where all the capital levels and the buffers are all in the 12.5% so we’ve taken it into account. And then you also said something about Basel IV or regulatory impact on RWA. And for that, I give the floor to Ljiljana.
Ljiljana Cortan : Thank you, Benjamin. As we’ve informed you several times, we have through our models or through the overlays absorbed most of the expected regulatory RWA inflation ahead of 2025 base implementation. But as also said several times before and also seen this quarter, there are some quarterly adjustments that come from the regular life of the model life cycle, which can be related to methodology or policy update or calibration of existing models and these impacts or these volatility might come in or revert back. But through the cycle and as already the majority of the — already impact has been taken into account in existing numbers.
Benjamin Goy : Thank you. So I believe it’s 100% payout to get to decide it. Thank you.
Operator: The next question comes from Kiri Vijayarajah from HSBC.
Kiri Vijayarajah : Yes. Good morning, everyone. A couple of questions from my side. Firstly, coming back to the deposit campaign in Germany. Just a bit more color there on what the thinking was because was it about accelerating the primary customer number because it did feel like you’ve lost a little bit of momentum at the 1Q stage when I compare you to the run rate of last year? Or is it more about managing your overall deposit numbers because you may have had — I think you did have some outflows on the Wholesale side, so you wanted to sort of compensate there? And should we view that campaign as a one-off then — or could we see more of those deposit campaigns being repeated in some of your other geographies? And then secondly, turning to the loan growth side, all looks fairly robust and well balanced across different divisions and geographies.
Is the aim to put the deposits to work quite quickly into loan growth, in which case maybe you’re hoping to see a bit of a pickup? Or are you happy to let those — that cash flow into the replicating portfolio. I guess I’m ultimately asking how sticky you think those new deposits are in terms of how you’re going to redeploy that. Thank you.
