ING Group
ING Groep NV
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legal form | Naamloze Vennootschap |
ISIN | NL0011821202 |
founding | 1991 |
Seat | Amsterdam , Netherlands |
management | Hans Wijers, Chairman Ralph Hamers , Chief Executive Officer |
Number of employees | 54,804 |
sales | € 18.17 billion (2018) |
Branch | Financial services |
Website | www.ing.com |
As of December 31, 2018 |
The ING Groep NV is a Dutch bancassurance provider in the form of a joint stock company based in Amsterdam.
The bank is one of the 30 major banks that have been classified as a systemically important financial institution by the Financial Stability Board (FSB) . It is therefore subject to special monitoring and stricter requirements for the endowment with equity .
history
The group was formed in 1991 from a merger of the insurer Nationale-Nederlanden with the NMB Postbank Group and was called the Internationale Nederlanden Groep (ING) after the merger . However, the abbreviation ING became so popular that the name was changed accordingly.
ING Groep NV is a holding company that acts as the parent company for various banks and insurance companies, for example for the Dutch bank ING or the German subsidiary ING-DiBa . In terms of market capitalization , the company is the eighth largest financial services provider in the world and therefore the leader in the Netherlands.
On the Forbes list for the 2007 financial year, the ING Groep is the ninth largest company in the world by sales.
After Nick Leeson's speculation and the collapse of Barings Bank , it was taken over in 1995 for a symbolic pound . In 1999, the German BHF-Bank was also taken over for a few years.
2007/2008 financial crisis
Due to the financial crisis , the ING-Groep had to take ten billion euros in state aid on October 19, 2008 . This strengthened the equity ratio, and consequently the Group was able to obtain additional liquidity on the market more cheaply. In addition, according to the company's own information, it also supported the stock market price, which had slumped to its lowest level since the mid-1990s on October 17, 2008 after a loss of 500 million euros was announced in the third quarter of 2008. For the full year 2008 a net loss of 171 million euros was reported. ING-Bank is the first Dutch financial company to draw on funds from a Dutch government emergency fund to support banks. In February 2009, 80 percent of a nominally 28 billion euros real estate loan portfolio was taken over by the Dutch government. According to the European Union, the group should be broken into two parts by 2013. With this step the risk should be halved and the business of the group should be reduced. As part of the “Back to Basics” strategy presented in 2009, several business areas and investments have already been sold.
Divestments after the financial crisis
- ING Canada
- ING Insurance Australia / New Zealand
- ING Insurance Malaysia
- ING Private Banking Switzerland
- ING Private Banking Asia
- ING Reinsurance USA
- ING Summit Industrial Fund
- ING Real Estate Manager "REIM"
- ING Direct USA
- ING Insurance Latin America
- Sale of three US brokers
- 5% stake in Fuban Financial
- ING Direct Canada
- ING Direct UK Great Britain
Money laundering scandal
On September 4, 2018, the public prosecutor's office announced that ING was paying a fine of around 775 million euros to settle an extensive money laundering case . A week later ING Bank announced that it would terminate the contract with CFO Koos Timmermans.
Group companies
Branch banks
- ING (Netherlands)
- ING Bank Śląski (Poland)
- ING Bank Evrazija (Russia)
- ING Belgium SA / NV (Belgium)
- ING Romania (Romania)
- Record Bank (Belgium)
- ING Bank Türkiye (Turkey)
- ING Luxembourg SA (Luxembourg)
- TMB Bank (Thailand)
- ING Vysyabank (India)
Direct banks
- ING-DiBa (Germany, Austria)
- ING Direct Australia (Australia)
- ING Direct France (France)
- ING Direct Spain (Spain)
- ING Direct Italy (Italy)
Other financial services
Insurance
- Insurance Europe (Hungary, Poland, Czech Republic, Slovakia, Bulgaria, Romania, Russia, Spain, Greece and Turkey)
- Insurance Asia / Pacific (Japan, Hong Kong, South Korea, China, India and Thailand)
- Insurance Americas (USA)
Presence by country
ING Group is present in the following countries:
- Australia
- Belgium
- Brazil
- Bulgaria
- China
- Germany
- France
- Greece
- Great Britain
- Hong Kong
- India
- Indonesia
- Italy
- Japan
- Canada
- Kazakhstan
- Luxembourg
- Mexico
- Mongolia
- Netherlands
- Austria
- Philippines
- Poland
- Romania
- Russia
- Switzerland
- Singapore
- Slovakia
- Spain
- South Korea
- Taiwan
- Thailand
- Turkey
- Czech Republic
- Hungary
- Ukraine
- United Arab Emirates
- United States
- Belarus
Asset management
Web links
Individual evidence
- ↑ Corporate Action Announcement: ISIN change ING Group NV ( Memento of the original from September 16, 2016 in the Internet Archive ) Info: The archive link has been inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
- ↑ Members Supervisory Board , accessed April 23, 2019
- ↑ Members Executive Board ING Group
- ↑ a b Annual Report 2018. In: ING. Retrieved April 23, 2019 .
- ^ Policy Measures to Address Systemically Important Financial Institutions. In: Financial Stability Board (FSB) of November 4, 2011 (PDF file; 105 kB)
- ↑ Update of the group of global systemically important banks (G-SIBs) (PDF; 43 kB) from November 1, 2012
- ↑ https://www.ing.com/About-us/Profile/History.htm
- ^ "ING financial group will be smashed" ( Memento from December 29, 2013 in the Internet Archive ), boersennews.de, October 26, 2009.
- ↑ ING pays 775 million euros in money laundering proceedings. In: Reuters . September 4, 2018, accessed September 11, 2018 .
- ↑ Dutch bank ING dismisses CFO due to money laundering scandal. In: 24matins.de. September 11, 2018, accessed September 11, 2018 .
Coordinates: 52 ° 18 '55.4 " N , 4 ° 56" 59.7 " E