ING Group :ING Wholesale Banking shapes future to support clients
21 November 2017 - 9:12PM
· |
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.
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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@ing.com |
|
Investor.Relations@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
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purchase accounting assumptions and methodologies, and other
changes in accounting assumptions and methodologies including
changes in valuation of issued securities and credit market
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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
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