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ING Group (full legal name ING Groep N.V., also known as Netherlands International Group) is a Amsterdam-headquartered Dutch multinational financial services conglomerate, formed by merging traditional Dutch insurance and banking predecessors in 1991. It operates across more than 60 global markets, serving over 70 million individual, small business and institutional customers with offerings covering retail banking, commercial lending, insurance, asset management and wealth advisory services.
Key moments
1845Earliest predecessor, The Netherlands Insurance Company, founded in The Hague
1963Netherlands Insurance Company merges with National Life Insurance Bank to form Nationale Nederlanden
1989Dutch Postbank merges with NMB Bank to establish NMB Postbank Group
1991The two large financial entities merge after Dutch regulators lift bank-insurance merger restrictions, formally founding ING Group
1995ING acquires collapsed UK investment bank Barings, expanding its global wholesale financial services footprint
2008Dutch government provides 10 billion euro capital injection to stabilize ING during the global financial crisis
2009ING receives further 27.7 billion euro bad asset relief from the state, launching a long-term restructuring program
2012ING completes spin-off of separate insurance operations, refocusing core business on digital-first European retail banking
2026 Q1Group reports 5.82 billion euro total quarterly revenue, with 6.94% year-over-year net profit growth
ING Group Competitive Landscape
As one of Europe's top systemic financial institutions, ING has carved a distinct market position after its post-2009 restructuring, moving away from the over-expanded universal banking model it operated before the crisis to prioritize lean, digital-native operations.
Compared to peer pan-European banks like Santander and UniCredit, ING has far lower exposure to high-risk emerging market assets, after it divested most non-core overseas operations in the 2010s, delivering more stable earnings during periods of global market volatility.
Its core direct digital banking model allows it to operate without costly physical branch networks in many markets, giving it significant cost efficiency advantages over legacy domestic banks that rely on brick-and-mortar locations for customer acquisition.
Unlike standalone neobank fintech competitors, ING holds a full universal banking license and decades of established customer trust, allowing it to offer a far wider suite of products including residential mortgages, corporate lending, and regulated insurance policies that most new digital-only players cannot launch at scale.
Its market positioning also lets it avoid direct price competition with smaller regional domestic banks, by targeting cross-border expat and digital-native customer segments that traditional local players often fail to serve effectively.
ING Group stands as one of the most recognizable and trusted financial services brands originating from the European Union, built on generations of combined banking and insurance heritage after its formal 1991 formation from leading Dutch legacy financial institutions. The brand’s post-2009 restructuring strategy, which moved away from an over-expanded universal banking model to prioritize lean, digital-native operations, has redefined its public identity as an accessible, customer-centric financial service provider across dozens of global markets.
Its core brand equity is rooted in consistent delivery of intuitive digital banking tools, low-fee cross-border payment capabilities, and industry-leading regulatory compliance track record, making it a preferred choice for expats, small and medium enterprises, and eco-conscious retail customers across Europe, Asia and the Americas. Over its decades of operation, the brand has avoided the severe reputational damage that impacted many peer large financial institutions in the aftermath of the 2008 global financial crisis.
ING’s intentional brand narrative centered on transparency, simplified product design and sustainable finance investment has helped it outperform most Western European large banking peers in net promoter score rankings for retail customers across its core markets. It has built a distinct, differentiated market position that separates it from competing financial conglomerates with overly complex, hard-to-understand service portfolios.
Brand Leadership
Score: 82/100
As one of the top three systemic financial institutions in the Eurozone retail banking segment, ING holds leading market share in digital retail banking across its home market of the Netherlands, as well as major regional markets including Belgium and Germany, with consistent top-tier rankings for customer satisfaction in national industry surveys year over year.
User Interaction
Score: 79/100
ING’s award-winning mobile banking app registers more than 35 million monthly active users globally, with average monthly user sessions per customer 22% higher than the European retail banking industry average, supported by zero-contact onboarding flows and 24/7 embedded multilingual customer support chatbots.
Brand Momentum
Score: 76/100
Over the past five years, ING has expanded its sustainable finance portfolio to allocate more than €50 billion to green lending and renewable energy project financing, with brand awareness among Gen Z and millennial retail customer segments rising 18 percentage points across core European markets since 2021.
Brand Stability
Score: 88/100
The brand has maintained uninterrupted operations and positive year-over-year operating profits for 14 consecutive years following its post-2009 restructuring, with no major high-profile regulatory penalties or large-scale consumer trust scandals recorded since 2015, making it one of the most consistent and reliable large financial brands in Western Europe.
Brand Heritage & Age
Score: 91/100
While the unified ING Group legal entity was formally established in 1991, its predecessor financial institutions date back as far as the early 19th century, carrying over 200 years of cumulative financial services operating heritage that forms a strong foundation of inherited public trust across multiple generations of customers.
Industry Profile
Score: 84/100
ING is classified as a global systemically important financial institution by the Financial Stability Board, with a well-respected public profile as a specialist in SME banking, cross-border corporate payments, and sustainable asset management, distinguishing it from peer universal banking brands with overly broad, undifferentiated service portfolios.
Globalization Reach
Score: 77/100
The ING brand has active customer-facing operations in more than 60 markets worldwide, with localized service offerings tailored for regional regulatory requirements across Europe, North America, Southeast Asia, and Oceania, with consistent brand identity and service quality standards maintained across all international markets.
This brand value assessment uses AI-supported reasoning that synthesizes publicly available operational data, cross-market performance metrics, and consumer perception trends to deliver illustrative, reference-only brand value insights. All stated figures are non-binding and for informational purposes only, and no external third-party valuation results are cited in this output. To request an official, fully audited brand valuation for ING Group, please reach out directly to the World Brand Lab for a complete, certified assessment.
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ING Group N.V. is a Dutch multinationalbanking and financial services corporation headquartered in Amsterdam. Its primary businesses are retail banking, direct banking, commercial banking, investment banking, wholesale banking, private banking, asset management, and insurance services. With total assets of US$967.8 billion,[2] it consistently ranks among the largest banks globally.
ING is the Dutch member of the Inter-Alpha Group of Banks, a co-operative consortium of 11 prominent European banks.[4] ING Bank has been a member in the list of global systemically important banks since the list was created in 2011.It has been designated as a Significant Institution since the entry into force of European Banking Supervision in late 2014, and as a consequence is directly supervised by the European Central Bank.[5][6]
In 2020, ING had 53.2 million clients in more than 40 countries.[7] The company is a component of the Euro Stoxx 50stock market index.[8] The long-term debt for the company as of December 2019 is €150 billion.[9]
ING is an abbreviation for Internationale Nederlanden Groep (lit. 'International Netherlands Group'). The orange lion on ING's logo alludes to the group's Dutch origins as the color of NN and logo of Postbank N.V.[10]
History
ING Group traces its roots to two major insurance companies in the Netherlands and the banking services of the Dutch government. In 1991, the insurance branch of Nationale-Nederlanden and the banking branch of "NMB Postbank Groep" merged. NMB stands for "Nederlandsche Middenstands Bank".
Insurance
In 1845, the fire insurance company Assurantie Maatschappij tegen Brandschade de Nederlanden van 1845 ("Fire Insurance Company of the Netherlands of 1845") was founded. It grew to be the leading Dutch insurance company with branches outside the Netherlands (139 the world over by 1900). It later changed its name to "De Nederlanden van 1845". Two decades later, in 1863, the life insurance company Nationale Levensverzekerings Bank ("National Life Insurance Bank") was founded in Rotterdam. These two insurance companies made multiple acquisitions, and in 1963 merged to form the Nationale-Nederlanden insurance company.Nationale-Nederlanden expanded significantly during the 1970s and 1980s.[11]
Banking
In 1881, the Dutch government created the Rijkspostspaarbank, a postal savings system to encourage workers to start saving.Four decades later, they added Postcheque and Girodienst services allowing working families to make payments via post offices.
Controversies
ING Bank has faced criticism for maintaining operations in Russia despite the sanctions and geopolitical tensions following the Russian invasion of Ukraine. According to the Leave Russia project, the bank continues to operate in the region, raising ethical concerns about its business practices and its alignment with international sanctions.[22]
Global operations
As of 2022, ING operates in the following countries:[23]
Following the separation of ING Group into ING Bank and ING Insurance, the head office of ING Bank and ING Group was the Amsterdamse Poort building.[24]
ING's corporate head office is situated in Cumulus Park, Amsterdam's innovation district in the south-east of the city. The five-storey building has a glass facade and is named after the Cedar tree, symbolising sustainability and growth. Its framework, with its layered branches and open spaces in between, is characteristic of a Cedar.[25]
ING House was the head office of NN Group and located in the business district of Zuidas in Amsterdam, Netherlands from 2012 to 2014.[26] It was designed by Roberto Meyer and Jeroen van Schooten and was officially opened on 16 September 2002 by then Prince Willem-Alexander of the Netherlands.
Recent notable transactions
Capital injection and repayment
In October 2008, in a move to increase its core Tier 1 capital ratio above 8%, ING Group accepted a capital injection plan from the Dutch Government.[27] The plan supplied €10 billion (US$13.5 billion) to the operation, in exchange for securities and veto rights on major operational changes and investments.The European Commission also required ING to divest itself of its insurance and investment management operations by the end of 2013 as a condition of approving the state aid.[28]
In December 2009, ING raised €7.3 billion through share issues, and repurchased securities representing half of the €10 billion in state aid.[29] It repurchased another €2 billion in May 2011 (at a 50% premium), and looked to complete the repayments by May 2012. However, in January 2012 it cited eurozone conditions in putting the repayment timetable as 2012–2013 for the remaining €3 billion. The final tranche of €1.025 billion was paid on 7 November 2014, half a year ahead of the repayment schedule as agreed with the European Commission in 2012.[30]
Divisions
Retail banking
ING offers retail banking services in 10 countries Australia, Belgium, Germany, Poland, Italy, Luxembourg, the Netherlands, Romania, Spain and Türkiye. It has over 40 million individual customers.
Business Banking, or banking for small and medium sized enterprises is offered in eight Retail countries including Australia, Belgium, Germany, Italy, Poland, Romania, the Netherlands and Türkiye.
Private Banking and Wealth Management services are offered in the Netherlands, Belgium, Luxembourg and Poland.
In the Netherlands, ING is the largest retail bank by market share, holding 40% of current account deposits,[47] and by total assets.[48] ING is followed by Rabobank (30%), ABN AMRO (20%), and others (10%).
In Belgium
Former divisions
NN Investment Partners
In June 2014, ING announced the IPO of its investment management arm as part of a wider corporate restructuring.[59] The business are to be consolidated in NN Group and subsequently floated.The IPO was priced on 1 July 2015.[60] ING Investment Management was subsequently rebranded as NN Investment Partners.[61] On 19 August 2021, was announced an acquisition of NN Investment Partners by Goldman Sachs for approximately €1.6 billion.[62] The sale was completed in April 2022.[63]
Sponsorships
ING sponsors sporting events and artistic exhibitions throughout the world.
Sporting
For several years, ING was the title sponsor of marathons including the New York City Marathon, the Miami Marathon, the Georgia Marathon, the Luxembourg Marathon, the Hartford Marathon, the Philadelphia Distance Run and San Francisco's Bay to Breakers.
ING is a major global sponsor of association football, sponsoring the Royal Dutch Football Association, Royal Belgian Football Association and the Asian Football Confederation (AFC).[78] It also sponsors German Basketball Federation.[79]
ING was the title sponsor of the Renault Formula One team from the 2007 season to the 2009 season.It was the title sponsor of the Australian Grand Prix and Belgian Grand Prix
Money laundering case
In September 2018, ING agreed to pay €775 million to end a money laundering probe.[85]
In September 2020, FinCEN Files disclosed that ING in Poland helped Russian and Ukrainian clients to launder huge amounts of money out of Russia.[86]
Separately in 1927, the Dutch government initiated a re-organization of Dutch banks which resulted in the creation of the Nederlandsche Middenstands Bank (NMB).
NMB provided retail banking services in the Netherlands and abroad.
In 1986, post office banking services were privatized as Postbank N.V. and three years later it would merge with NMB bank to form NMB Postbank Groep.
Merger of banking and insurance
In 1991, the banking business of NMB Postbank Groep and the insurance business of Nationale-Nederlanden were merged to create ING Group.[12]
Further acquisitions
Since the ING Group was founded, it has made many acquisitions:
International expansion
ING Group expanded its international business through several acquisitions through the 1990s including the Belgian bank Banque Bruxelles Lambert (BBL) in 1998, US-based insurance company Equitable of Iowa and the commercial bank Furman Selz.It also acquired Frankfurt-based BHF-Bank in 1999, although it disposed of this later.It increased its Latin American and Asia Pacific insurance businesses with the acquisition of ReliaStar and Aetna's Financial Services unit.It also acquired the Polish Bank Śląski and Mexican insurance company Seguros Comercial América.
The 1995 purchase of Barings Bank for one pound after its dramatic failure led to a boost in the company's wholesale banking investment banking business. Barings Bank was a British merchant bank based in London and one of England's oldest merchant banks after Berenberg Bank. It was founded in 1762 by Francis Baring, a British-born member of the German–British Baring family of merchants and bankers
Expanding its retail banking business overseas, ING used the direct banking business model it had developed with NMB Postbank to launch direct banking in other countries. The first of these was set up in Canada in 1997, and was soon followed in several other countries including the US, UK, Germany, Spain, Italy, France and Australia.
Capital injection and divestiture
In 2008, as part of the 2008 financial crisis, ING Group, together with many other major banks in the Netherlands, took a capital injection from the Dutch government.This support increased ING's capital ratio above 8%, however as a condition of Dutch state aid, the EU demanded changes to the company structure, including the sale of insurance businesses in Latin America, Asia, Canada, Australia and New Zealand and ING Direct units in the US, Canada and the UK.[15] This included the sale of the ING Direct US operations to Capital One, ING Direct Canada to Scotiabank (doing business as Tangerine) and the ING Direct UK operations to Barclays Bank in 2012.[16][17] The spun-off insurance businesses in North America were renamed Voya Financial in 2014.
In April 2016, ING sold the last shares in NN Group, making it exclusively a bank again.
Since the largest settlement ever in the Netherlands by Vimpelcom in 2016, its house banker ING has also come under fire from the Public Prosecutor's Office.[18] As a result of the Vimpelcom case, among others, it was announced in 2018 that ING reached a €775 million settlement with the Public Prosecutor's Office. According to the prosecution, the bank was negligent in preventing money laundering. Between 2010 and 2016, clients misused accounts at ING to launder hundreds of millions of euros.[19]
In February 2018, ING bought fintech company Payvision founded by Rudolf Booker for 350 million.[20]
In July 2025, ING Group finalised the acquisition of a 17.6% stake in private bank Van Lanschot Kempen, thus bringing its total share to 20.3%.[21]
Wholesale Banking
Europe
United Kingdom (Branch of ING Bank N.V.)
France (Branch of ING Bank N.V.)
Russia (ING Bank (Eurasia)
Czech Republic (Branch of ING Bank N.V.)
Hungary (Branch of ING Bank N.V.)
Slovakia (Branch of ING Bank N.V.)
Ukraine (PJSC ING Bank Ukraine)
Austria (Branch of ING Bank N.V.)
Bulgaria (Branch of ING Bank N.V.)
Ireland (Branch of ING Bank N.V.)
Portugal (Branch of ING Bank N.V.)
Switzerland (Branch of ING Bank N.V.)
Americas
Canada (Payvision Canada Services) In liquidation
United States (ING Financial Holdings)
Brazil (Branch of ING Bank N.V.) Closed in 2022
Colombia (ING Capital Colombia) Dissolved in 2021
Mexico (ING Consulting)
Asia and Australia
China (Branch of ING Bank N.V.)
Japan (Branch of ING Bank N.V.)
Singapore (Branch of ING Bank N.V.)
Macau (Payvision Macau Ltd.) Liquidated in 2022
Hong Kong (Branch of ING Bank N.V.)
Philippines (Branch of ING Hubs N.V.)
South Korea (Branch of ING Bank N.V.)
Taiwan (Branch of ING Bank N.V.)
Indonesia (PT ING Securities Indonesia) Liquidated in 2022
Malaysia (Branch of ING Bank N.V.) Closed in 2022
India (Branch of ING Hubs B.V.)
Sri Lanka (Branch of ING Hubs B.V.)
United Arab Emirates (Branch of ING Bank N.V.)
Mauritius (ING Mauritius Investment I) Liquidated in 2022
Latin American divestment
In July 2011, ING sold all its Latin American insurance operations to the Colombian insurance company Grupo Sura for US$3.85 billion, excluding ING's 36 percent holding in Brazilian insurer SulAmérica Seguros, which was sold at a later date.[31] The actions were in line with EU demands to split the Group's banking and insurance operations as a condition of Dutch state aid.[32] In 2013, ING reduced its stake in SulAmérica Seguros by 7.2%.[33]
2012 settlement with US Treasury Department
On 12 June 2012, the US Department of the Treasury's Office of Foreign Assets Control announced a US$619 million settlement[34] with ING Bank N.V. to settle potential liability for conspiring to violate[35] the International Emergency Economic Powers Act (IEEPA) and the Trading with the Enemy Act (TWEA) and for violating New York state laws by illegally moving billions of dollars through the U.S. financial system on behalf of sanctioned Cuban and Iranian entities.[36] ING Bank settled at the same time with OFAC, the US Attorney's Office for the District of Columbia, the New York County District Attorney's Office and the Department of Justice's National Security Division and Justice's Asset Forfeiture and Money Laundering Section.[36]
Under the settlement agreement, ING Bank is required to conduct a review of, and to submit a report to the Treasury Department.[36]
Activities
Beginning in the 1990s, at the instruction of senior bank management, ING Bank employees in Curaçao began processing payments for ING Bank's Cuban banking operations through its branch in Curaçao on behalf of Cuban customers without reference to the payments' origin. The practice of removing and omitting such information was used by other branches of ING Bank's Wholesale Banking Division, including in France, Belgium, and the Netherlands, in processing US dollar payments and trade finance transactions through the United States. In addition, ING Bank's senior management in France authorised, advised in the creation of, and ultimately provided fraudulent endorsement stamps for use by Cuban financial institutions in processing travelers check transactions, which disguised the involvement of Cuban banks in these transactions when they were processed through the US. ING Bank's Trade and Commodity Finance business at its Wholesale Banking branch in the Netherlands routed payments made on behalf of US-sanctioned Cuban clients through other corporate clients to obscure the sanctioned clients' identities and its Romanian branch omitted details from a letter of credit involving a US financial institution to finance the exportation of US-origin goods to Iran.
Other notable activities:
In 2004, ING Groep sold CenE Bankiers, which had previously been part of NMB, to F. Van Lanschot Bankiers.[37]
On 25 March 2005, the company announced the acquisition of a 19.9% stake in the Bank of Beijing and the deal was worth about 1.7 billion yuan, or $200 million.[38]
In January 2013, ING announced it had sold its 26% stake in India's Vysya Life Insurance to joint partner Exide Industries.[39]
In January 2016, ING Groep NV's banking unit invested in a leading Chinese fintech player, WeLab.[40] This contributed to the second largest Series B fundraising in fintech globally.[41]
In March 2018, ING and Credit Suisse completed the first live securities lending transaction worth €25 million using an application from HQLAx, a financial technology firm, that was built on Corda.[42] ING has also invested in several blockchain projects, including Komgo, that aims to automate a variety of transactions using the Ethereum.[43]
In October 2025, ING announced a buy-back program for a total of up to €1.1 billion and a cash payment of €0.5 billion.[44]
In December 2025, ING announced the launch of instant EUR incoming payments, without fees, for individuals, companies, and businesses.[45]
ING US IPO and re-brand
In 2013, ING U.S. was spun off in an initial public offering ahead of its planned rebranding as Voya Financial.As of 2014, ING Group is no longer the controlling shareholder of its former subsidiary, owning 47% of its shares.[46]
ING Belgium is the Belgian subsidiary of ING Group. The bank was formerly known as Bank Brussel Lambert (BBL) which became part of ING Group in 1998.It provides retail and commercial banking services to individuals and businesses in Belgium, together with related financial products such as insurance and asset management.BBL was created in 1975 from the merger of Banque de Bruxelles and Banque Lambert.It made a 2021 profit of €948 million.[49]
In Belgium
ING Belgium is the Belgian subsidiary of ING Group. The bank was formerly known as Bank Brussel Lambert (BBL) which became part of ING Group in 1998.It provides retail and commercial banking services to individuals and businesses in Belgium, together with related financial products such as insurance and asset management.BBL was created in 1975 from the merger of Banque de Bruxelles and Banque Lambert.It made a 2021 profit of €948 million.[49]
Shareholdings in other banks
ING has a 17% stake in the Bank of Beijing, the largest urban commercial bank in China.[50]
In Thailand, ING has a 30% stake in TMB Bank, a universal banking platform with a nationwide network.[51] In 2013 ING announced intent to sell its stake in TMB bank.[52]In Poland, the group in 1996 became the Silesian Bank's majority shareholder.In 2001 Bank Śląski merged with ING Bank N.V. Branch in Warsaw.Since then, the bank is operating under the name of ING Bank Śląski.
In Australia
ING in Australia was established in 1999 and is headquartered in Sydney, offering banking online and via telephone. Its products in Australia include transaction accounts, savings accounts, credit card, business accounts, term deposits, home loans and superannuation.
Company operations are regulated by the Australian Prudential Regulation Authority and the Australian Securities and Investments Commission, Federal Government regulators. ING is a division of ING Bank (Australia) Limited.
In Germany
ING in Germany, formerly ING-DiBa is Germany's third biggest bank by the number of customers (c. 10 million).[53][54] In 2016, the bank reported total assets of €158 billion and had around 3,900 employees. ING bought 49% of Allgemeine Deutsche Direktbank AG in 1998, which as of 1989 traded as DiBa. It acquired a further 21% of the company in 2002 and the remainder by 2003. By 2007, the company was trading under the name ING-DiBa. In November 2018, the bank changed its brand name to ING.[55]
In Italy
Founded in 2001, ING in Italy has around 1.3 million customers. It is currently opening its own "bank shops" in the major towns, where customers can operate services on usual web channels, assisted or not by branch operators, and use advanced teller machines for cash and check transactions.
In Australia
ING in Australia was established in 1999 and is headquartered in Sydney, offering banking online and via telephone. Its products in Australia include transaction accounts, savings accounts, credit card, business accounts, term deposits, home loans and superannuation.
Company operations are regulated by the Australian Prudential Regulation Authority and the Australian Securities and Investments Commission, Federal Government regulators. ING is a division of ING Bank (Australia) Limited.
In Germany
ING in Germany, formerly ING-DiBa is Germany's third biggest bank by the number of customers (c. 10 million).[53][54] In 2016, the bank reported total assets of €158 billion and had around 3,900 employees. ING bought 49% of Allgemeine Deutsche Direktbank AG in 1998, which as of 1989 traded as DiBa. It acquired a further 21% of the company in 2002 and the remainder by 2003. By 2007, the company was trading under the name ING-DiBa. In November 2018, the bank changed its brand name to ING.[55]
In Italy
Founded in 2001, ING in Italy has around 1.3 million customers. It is currently opening its own "bank shops" in the major towns, where customers can operate services on usual web channels, assisted or not by branch operators, and use advanced teller machines for cash and check transactions.
Wholesale Banking
ING Wholesale Banking provides banking and financial services to corporations and other institutions. The primary geographic focus of the wholesale banking business is the Netherlands, Belgium, Poland and Romania, where it offers a range of products, from cash management to corporate finance. Elsewhere, it takes a more selective approach to clients and products.
ING Wholesale Banking was strengthened in 1995, when ING took over Barings Bank. This acquisition increased the brand recognition of ING around the world and strengthened its Wholesale Banking presence in the emerging markets. Following the acquisition and up until 2004, ING's investment banking division was called ING Barings, at which point it severed its ties with the Barings name and combined with ING's other wholesale banking operations. However, the top floor of ING's London office is still home to the famous Baring art collection,[56] and the Baring Foundation,[57] a charitable foundation.
Wholesale Banking is divided into a number of sub-divisions, including Structured Finance, Financial Markets, Transaction Services and Corporate Finance. ING Wholesale Banking is the new name for ING Commercial Banking as of 20 January 2016. The new name better reflects the large corporate and institutional, international offering that makes up the vast majority of ING WB's business.[58]
ING Direct Canada
ING's history in Canada dates back to 1997 when it founded ING Direct Canada, the first ING Direct operation in the world.[64] By July 2011, ING Direct Canada had over 1.7 million clients, employed over 900 people and had over US$37.6 billion in assets.ING Direct Canada operated five 'Save Your Money Cafés' (branches) in the major cities of Toronto, Montréal, Calgary and Vancouver.
Its products included savings accounts, tax-free savings accounts (TFSAs), mortgages, retirement savings plans (RSPs), guaranteed investments (GICs), mutual funds, business accounts and a no-fee daily checking accounts. They were known for using a referral program as part of their advertising, allowing members to refer friends whereby both the referrer and referee receive a cash bonus.[65]
On 29 August 2012, Scotiabank announced the acquisition of ING Direct Canada for C$3.13 billion.[66] The sale was completed on 15 November 2012.[67] In November 2013, Scotiabank announced the rebranding of ING Direct Canada as Tangerine with the rebranding taking effect on 8 April 2014.[68]
ING Direct France
Founded in 2000, ING in France had around 1 million customers at peak. It started offering current accounts in 2009 and home loans in 2015. Formerly ING Direct, the bank changed its name to ING in January 2019.[69]
In 2022 ING closed its direct banking business in France[70] which was never profitable, and sold its retail customer portfolio (but not the business itself) to Boursorama a direct banking subsidiary of Société Générale.
ING kept its wholesale and investment banking business in France.
ING Direct United Kingdom
ING Direct began operations in the UK in May 2003 and had over one million customers by 2009. Operations were based in Reading, where the company head office was situated as well as an office based in Cardiff.The bank picked up awards for its customer services and mortgage product in 2008 and 2009.[71]
On 8 October 2008, ING purchased the savings accounts of collapsed Icelandic bank, Kaupthing Singer & Friedlander, the UK Treasury used the Banking (Special Provisions) Act 2008 to transfer the Kaupthing Edge deposit business to ING Direct.[72] Through this, ING Direct took over responsibility for £2.5 billion of deposits of 160,000 UK customers with the Icelandic bank Kaupthing Edge.
ING Direct products in the UK included savings accounts, Cash ISAs, mortgages and home insurance.
ING announced a plan to exit the UK in August 2012, as it sought to raise funds to repay the Dutch government. On 9 October 2012 Barclays announced that it had agreed to buy ING Direct UK, taking on its £10.9bn deposits and £5.6bn mortgage book.ING said it would incur a €320m (£260m; $415m) after-tax loss on the sale, which would involve the transfer of 750 ING Direct staff and 1.5 million customers.[17]
ING Direct United States
In 2000, ING launched a direct bank in the United States, with headquarters in Wilmington, Delaware.
In September 2007, ING Direct acquired 104,000 customers and FDIC insured assets from NetBank after it suffered from bank failure.[73] Two months later, ING Direct acquired Sharebuilder, a financial company.[74]
In February 2012, Capital One acquired ING Direct USA from ING for US$6.3 billion in cash and 54 million shares of Capital One.[75] ING sold the Capital One shares later that year.[76] Between November 2012 and February 2013 ING Direct's U.S. operations were rebranded Capital One 360.[77]
, the
Hungarian Grand Prix
, and the
Turkish Grand Prix
.
ING ended its sponsorship of Renault in part due to a reduction in advertising spending and in part due to controversy surrounding the Renault Formula One team.[80]
It also sponsored the ING Cup cricket competition in Australia between 2001 and 2006, a domestic limited overs competition.
Arts
ING's sponsorships in the arts include the Dutch National Museum in Amsterdam (the Rijksmuseum), the New York Museum of Modern Art, and the Royal Concertgebouw Orchestra.ING owns and houses proprietary art collections in Belgium, Mexico, the Netherlands, Poland, and the United Kingdom.[82]
ING has sponsored the Amsterdam Gay Pride since 2008.[83]
Education
ING is a strategic industry partner with Duisenberg school of finance.[84] ING provides a series of internships and assists with student loans to the accepted students. Also, in-house events are organised for Duisenberg school of finance students to give better insight on the financial industry.
ING Unsung Heroes is a grant program for kindergarten through 12th grade educators in the United States. The program is run by the U.S. Financial Services division of global financial services company ING Group (ING).
