ING reviews position of ING Direct in Canada and UK
(Thomson Reuters ONE) -
ING continuously evaluates its portfolio of businesses, in line with its stated
objective of sharpening its focus. Within this context, ING today announced that
it is currently reviewing strategic options for ING Direct Canada and ING Direct
UK.
These reviews may or may not lead to transactions, and no decisions have yet
been made in this regard. ING is committed to conduct these processes with the
utmost diligence in the interests of its stakeholders, including customers,
employees and shareholders.
ING Direct is the leading direct bank in Canada, launched in April 1997. Since
that date, it has served its customers with excellent service, offering savings,
chequing, mutual fund and mortgage products through its call centres, the
internet and its ING Direct cafés. At 31 March 2012, ING Direct Canada's over
1100 employees served 1.8 million clients.
ING Direct UK is a leading UK direct banking platform which offers a focused
range of savings and mortgages products to over 1.5 million customers in the UK
through secure online and mobile internet channels, supported by two UK-based
call centres. At 31 March 2012 ING Direct UK had approximately 750 employees.
Any further announcement on the reviews will be made if and when appropriate.
The ING Direct businesses in Australia, Austria, France, Germany, Italy and
Spain are not affected by today's announcement.
Press enquiries Investor enquiries
Carolien van der Giessen ING Group Investor relations
+31 20 576 6386 +31 20 576 6396
Carolien Investor.relations(at)ing.com
ING PROFILE
ING is a global financial institution of Dutch origin, offering banking,
investments, life insurance and retirement services to meet the needs of a
broad customer base. Going forward, we will concentrate on our position as an
international retail, direct and commercial bank, while creating an optimal
base for an independent future for our insurance and investment management
operations
ING Direct Canada is a wholly-owned subsidiary of ING Groep, operating on a
stand-alone basis and governed by the same rules and regulations as other
Canadian banks under OSFI (Office of the Superintendent of Financial
Institutions). ING Direct Canadian dollar savings and chequing products are
eligible for Canada Deposit Insurance Corporation (CDIC) insurance.
ING Direct UK is a branch of ING Direct N.V. a wholly owned subsidiary of ING
Groep and operates in the UK under a European passport. As such, ING Direct UK
is authorised and regulated by De Nederlandsche Bank and eligible deposits
fall under the Dutch deposit guarantee scheme. In addition, the UK Financial
Services Authority regulates ING Direct UK for the purposes of liquidity,
conduct and anti-money laundering.
IMPORTANT LEGAL INFORMATION
Certain of the statements contained in this document are not historical facts,
including, without limitation, certain statements made of future expectations
and other forward-looking statements that are based on management's current
views and assumptions and involve known and unknown risks and uncertainties
that could cause actual results, performance or events to differ materially
from those expressed or implied in such statements. Actual results,
performance or events may differ materially from those in such statements due
to, without limitation: (1) changes in general economic conditions, in
particular economic conditions in ING's core markets, (2) changes in
performance of financial markets, including developing markets, (3)
consequences of a potential (partial) break-up of the euro, (4) the
implementation of ING's restructuring plan to separate banking and insurance
operations, (5) changes in the availability of, and costs associated with,
sources of liquidity such as interbank funding, as well as conditions in the
credit markets generally, including changes in borrower and counterparty
creditworthiness, (6) the frequency and severity of insured loss events, (7)
changes affecting mortality and morbidity levels and trends, (8) changes
affecting persistency levels, (9) changes affecting interest rate levels, (10)
changes affecting currency exchange rates, (11) changes in investor, customer
and policyholder behaviour, (12) changes in general competitive factors, (13)
changes in laws and regulations, (14) changes in the policies of governments
and/or regulatory authorities, (15) conclusions with regard to purchase
accounting assumptions and methodologies, (16) changes in ownership that could
affect the future availability to us of net operating loss, net capital and
built-in loss carry forwards, (17) changes in credit-ratings, (18) ING's
ability to achieve projected operational synergies and (19) the other risks
and uncertainties detailed in the risk factors section contained in the most
recent annual report of ING Groep N.V.
Any forward-looking statements made by or on behalf of ING speak only as of
the date they are made, and, ING assumes no obligation to publicly update or
revise any forward-looking statements, whether as a result of new information
or for any other reason. This document does not constitute an offer to sell,
or a solicitation of an offer to buy, any securities.
PDF version of press release:
http://hugin.info/130668/R/1631330/522966.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: ING Group via Thomson Reuters ONE
[HUG#1631330]
Unternehmensinformation / Kurzprofil:
Datum: 02.08.2012 - 08:02 Uhr
Sprache: Deutsch
News-ID 171049
Anzahl Zeichen: 6534
contact information:
Town:
Amsterdam
Kategorie:
Business News
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"ING reviews position of ING Direct in Canada and UK"
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