ING Group :ING Wholesale Banking shapes future to support clients
(Thomson Reuters ONE) -
· Strengthening sector focus, international network and advisory functions
including Debt Capital Markets, Corporate Finance and daily banking
propositions
· Investing in innovation and data analytics to deliver differentiating client
experience
· Realigning organisation to further enhance client centricity
ING Wholesale Banking today announced a number of initiatives aimed at further
enhancing client centricity, addressing clients' daily challenges and their
strategic needs. The international network, currently spanning more than 40
countries will be strengthened, as we put more resources into Asia and the
Americas. We are also investing in our advisory functions including core banking
services such as the Debt Capital Markets and Corporate Finance franchises.
"ING Wholesale Banking is an important contributor to the success of ING's Think
Forward strategy," said Isabel Fernandez, head of ING Wholesale Banking. "We've
seen wholesale lending assets grown by more than thirty percent over the past
five years and pre-tax results have grown by more than 70 percent. We expect
lending growth to continue, as we support our clients in their business needs.
But our key assets are our people and the trust of our clients, which we need to
earn every day. The measures we are announcing today aim to make us even more
relevant to our clients and to earn the primary relationship in line with ING's
Think Forward strategy."
"We will enhance and further integrate our daily banking service offering, which
includes payments- and cash management, working capital solutions, trade
finance, overdrafts and FX transactions. We will focus on providing clients
uniform services across our extensive network, offering relevant and proven
solutions through their preferred channel, while also moving to open banking
platforms. In support of these changes, we will roll out the agile way of
working across the product and client service delivery departments."
"In order to better understand and anticipate our clients' needs, we will
increase our investments in data analytics capabilities and enhanced data
management. We will strengthen our sector expertise and research coverage to put
our knowledge to work for our clients and help them stay ahead of competition.
We will reinforce our focus on Sustainable Finance initiatives, further
supporting our clients in becoming more sustainable."
"We will continue to prioritise innovation, developing new services to improve
the client experience and reimagine what we do today. Recent examples include
the use of blockchain technology to disrupt areas like Trade and Commodity
Finance. At the same time we look at solutions that go beyond banking. In line
with the launch of our EUR 300 million fintech fund, ING Ventures, we will
expand our efforts to partner with and invest in start-up or scale-up companies
to benefit our clients."
"In past years ING Wholesale Banking has grown into a sector specialist in
lending areas such as Metals and Mining, Trade and Commodity Finance and
Technology, Media and Telecom. To help deliver a global, consistent client
approach across the Americas, Asia and Europe, ING Wholesale Banking will move
from the current, largely product-based orientation to a stronger sector
organisation while putting more emphasis on the regions. To reflect these
changes and the increased focus on innovation, the regions, sector organisation
and innovation function will report directly into the Head of Wholesale
Banking."
The organisational changes are expected to come into force in January 2018. The
growth initiatives announced today will lead to hires in selected areas. The
measures and related investments will be fully funded by increased revenues and
cost benefits that stem from these initiatives and from business growth.
Note for editors
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Press enquiries Investor enquiries
Carolien van der Giessen ING Group Investor Relations
+31 20 576 6386 +31 20 576 6396
Carolien.van.der.Giessen(at)ing.com Investor.Relations(at)ing.com
ING PROFILE
ING is a global financial institution with a strong European base, offering
banking services through its operating company ING Bank. The purpose of ING Bank
is empowering people to stay a step ahead in life and in business. ING Bank's
51,000 employees offer retail and wholesale banking services to customers in
over 40 countries.
ING Group shares are listed on the exchanges of Amsterdam (INGA AS, INGA.AS),
Brussels and on the New York Stock Exchange (ADRs: ING US, ING.N).
Sustainability forms an integral part of ING's strategy, which is evidenced by
the number one position among 395 banks ranked by Sustainalytics. ING Group
shares are being included in the FTSE4Good index and in the Dow Jones
Sustainability Index (Europe and World) where ING is among the leaders in the
Banks industry group.
IMPORTANT LEGAL INFORMATION
Elements of this press release contain or may contain information about ING
Groep N.V. and/ or ING Bank N.V. within the meaning of Article 7(1) to (4) of EU
Regulation No 596/ 2014.
Projects may be subject to regulatory approvals.
Certain of the statements contained 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 a number of factors,
including, 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) potential consequences
of European Union countries leaving the European Union or a break-up of the
euro, (4) changes in the availability of, and costs associated with, sources of
liquidity such as interbank funding, as well as conditions in the credit and
capital markets generally, including changes in borrower and counterparty
creditworthiness, (5) changes affecting interest rate levels, (6) changes
affecting currency exchange rates, (7) changes in investor and customer
behaviour, (8) changes in general competitive factors, (9) changes in laws and
regulations and the interpretation and application thereof, (10) geopolitical
risks and policies and actions of governmental and regulatory authorities,
(11) changes in standards and interpretations under International Financial
Reporting Standards (IFRS) and the application thereof, (12) conclusions with
regard to purchase accounting assumptions and methodologies, and other changes
in accounting assumptions and methodologies including changes in valuation of
issued securities and credit market exposure, (13) changes in ownership that
could affect the future availability to us of net operating loss, net capital
and built-in loss carry forwards, (14) changes in credit ratings, (15) the
outcome of current and future legal and regulatory proceedings, (16) ING's
ability to achieve its strategy, including projected operational synergies and
cost-saving programmes and (17) the other risks and uncertainties detailed in
the most recent annual report of ING Groep N.V. (including the Risk Factors
contained therein) and ING's more recent disclosures, including press releases,
which are available on www.ING.com. Many of those factors are beyond ING's
control.
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 purchase, any securities in the United States or any other
jurisdiction.
pdf version of press release:
http://hugin.info/130668/R/2151069/825771.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: ING Group via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 21.11.2017 - 11:11 Uhr
Sprache: Deutsch
News-ID 568894
Anzahl Zeichen: 9937
contact information:
Town:
Amsterdam
Kategorie:
Business News
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