ING Group

ING Group N.V.

ING Groep N.V. logo
Company type	Public (Euronext: INGA, NYSE: ING)
Industry	Financial services
Founded	1991
Headquarters	Amsterdam, the Netherlands
Key people	Michel Tilmant, Chairman of the Executive Board Cornelius Herkströter, Chairman of the Supervisory Board John Hele, Chief Financial Officer
Products	Banking Insurance Asset management
Revenue	€ 76.587 billion (2007)
Operating income	€ 11.043 billion (2007)
Net income	€ 9.241 billion (2007)
Total assets	845,000,000,000 United States dollar (2016)
Number of employees	115,218
Website	www.ing.com

ING House, ING headquarters in Amsterdam

ING Groep N.V. (NYSE: ING, Euronext: INGA) (known as ING Group) is a financial institution of Dutch origin offering banking, insurance and asset management services. ING stands for Internationale Nederlanden Groep.

As of 2003, ING covers 60 million private, corporate and institutional clients in 50 countries with a workforce of over 115,000 people. It has offices in Australia, Austria, Belgium, Bulgaria, Canada, Chile, France, Germany, India, Italy, Mexico, Peru, Poland, Romania, Spain, Taiwan, Turkey, UK and United States. It owns ING Direct, a virtual bank with operations in Australia, Canada, India, Spain, UK, USA and elsewhere. In the 2007 Forbes Global 2000, ING was the tenth-largest company in the world.

ING's headquarters in Amsterdam is somewhat renowned as an autonomous building.

Advertising and sponsorship

ING's Canadian commercials feature Dutch actor Frederik de Groot. In Australia, they feature Scottish comedian Billy Connolly.

From 2007, ING became the title sponsor of the Renault Formula One team. This will continue until at least 2009. In November 2006, ING was announced as the naming rights sponsor of the Australian Grand Prix and Belgian Grand Prix in a three-year deal; The "ING Australian Grand Prix" and "2007 ING Belgian Grand Prix" will be the first of the 2007 season.

In recent years, ING has been the title sponsor of the New York City Marathon. This sponsorship deal will continue until 2010.

History

The company was created from the 1990 merger of Nationale-Nederlanden and NMB Postbank Groep.

• 1995: ING acquired investment bank and investment management firm Barings
• 1997: ING acquired insurer Equitable of Iowa Companies
• 1997: ING opened ING Direct Canada www.ingdirect.ca
• 1998: ING acquired Banque Bruxelles Lambert (BBL) of Belgium
• 1999: ING acquired BHF-Bank of Germany
• 2000: ING acquired US insurers ReliaStar, Aetna Financial Services and Aetna International
• 2000: ING opened ING Direct USA
• 2001: ING acquired Bank Śląski of Poland, and insurer Seguros Comercial America of Mexico
• 2002: ING acquired DiBa bank of Germany
• 2004: ING Insurance Company of Canada acquired Allianz Canada
• 2004: ING sold BHF-Bank of Germany to Sal. Oppenheim
• 2006: ING opened ING Life Bulgaria, a branch of ING Life Hungary
• 2007: ING acquired Oyak bank of Turkey www.oyak.com.tr
• 2007: ING launched its first variable annuities product for the European market in Spain
• 2007: ING acquired US web-based stock brokerage firm ShareBuilder
• 2007: ING acquired Landmark Asset Management Company of South Korea
• 2007: ING acquired TMB bank of Thailand
• 2008: ING sold ING Seguros in Mexico

Investigations into investment and business practices

Over the past several years, the ING Group has come under considerable scrutiny over the ethics of some of their business practices. In October of 2005, the National Association of Securities Dealers (NASD), the leading private-sector provider of financial regulatory services, ordered ING Funds Distributor (IFD) to pay fines of $1.5 million for permitting improper market timing in ING funds and related violations, $1.4 million in restitution to affected mutual funds, and $25,000 fine and 30-day supervisory suspension on an IFD supervisor.

See also

• European Financial Services Roundtable
• Inter-Alpha Group of Banks
• ING Direct
• Renault F1 Team

External links

• ING.com ING Group mobile
• Pictures of the ING Group Headquarters, Amsterdam
• ING Direct U.S. rate history (2001-present)
• ING Bulgaria