ING to sell Mexican mortgage business to Santander
(Thomson Reuters ONE) -
ING announced today it has reached an agreement to sell ING Hipotecaria, its
mortgage business in Mexico, to Banco Santander (México) S.A..
The transaction is part of ING's earlier announced process to divest its
insurance and investment management businesses. ING Hipotecaria is a domestic
Mexican mortgage business serving approximately 28,000 customers through its 20
branches, which remained with ING following the divestment of ING's Latin
American pensions, life insurance and investment management operations in 2011.
Today's announcement does not affect ING's Commercial Banking activities in
Mexico.
The transaction announced today is not expected to have a material impact on ING
Group results. Subject to regulatory approvals, it is expected to close in the
second half of 2013.
Banco Santander (México), one of Mexico's leading financial services holding
companies, provides a wide range of financial and related services, including
retail and commercial banking, securities brokerage, financial advisory and
other related investment activities.
Press enquiries Investor enquiries
Raymond Vermeulen Investor Relations
+31 20 57 66369 +31 20 57 66396
Raymond.Vermeulen(at)ing.com 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
IMPORTANT LEGAL INFORMATION
Certain of the statements contained or referenced herein 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/1709407/566695.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#1709407]
Unternehmensinformation / Kurzprofil:
Datum: 14.06.2013 - 22:03 Uhr
Sprache: Deutsch
News-ID 269972
Anzahl Zeichen: 5280
contact information:
Town:
Amsterdam
Kategorie:
Business News
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