View source for ING Group

{{short description|Dutch multinational banking and financial services corporation}}
{{redirect|ING}}
{{Use dmy dates|date=January 2020}}
{{Infobox company
| name = ING Groep N.V.
| logo = ING Group N.V. Logo.svg
| image = 2020 ING Bijlmerdreef 106 (1).jpg
| image_size = 250px
| image_caption = ING's headquarters in [[Amsterdam]], Netherlands
| type = [[Public company|Public]]
| traded_as = {{EuronextAmsterdam|INGA|NL0011821202|XAMS}}<br />{{NYSE|ING}}<br />[[AEX index|AEX]] component
| ISIN = {{ISIN|sl=n|pl=y|NL0011821202}}
| foundation = 1991 through merger<ref>[https://www.ing.com/About-us/History.htm ING: About us: History]. Ing.com. Retrieved on 27 July 2024.</ref><br /><small>(est. 1743 as ''Kooger Doodenbos'')</small>
| location = [[Amsterdam]], Netherlands
| area_served = Europe, Asia, [[Oceania]], North America, South America
| key_people = {{unbulleted list|Steven van Rijswijk ([[chief executive officer|CEO]])|Tanate Phutrakul ([[chief financial officer|CFO]])|[[Hans Wijers]] ([[chairman]] of the [[supervisory board]])}}
| industry = [[Financial services]]
| products = {{ubl | [[Asset management]] | [[Banking]] | [[Commodities]] | [[Credit card]]s | [[Equities trading]] | [[Insurance]] | [[Investment management]] | [[Mortgage loan]]s | [[Mutual funds]] | [[Exchange-traded fund]]s | [[Index fund]]s | [[Private equity]] | [[Risk management]] | [[Wealth management]] }}
| revenue = [[Euro|€]]18.561 billion <small>(2022)</small><ref name="AR2022">{{Cite web |url =https://www.ing.com/Investor-relations/Financial-performance/Annual-reports.htm|title = 2022 ING Group Annual Report}}</ref>
| operating_income = €5.5 billion <small>(2022)</small><ref name="AR2022" />
| net_income = €3.78 billion <small>(2022)</small><ref name="AR2022" />
| assets = €1.1 trillion <small>(Q3 2025)</small><ref name="AR2022" />
| equity = €50.4 billion <small>(2022)</small><ref name="AR2022" />
| num_employees = 60,778 <small>(2022)</small><ref name="AR2022" />
| subsid = AFP Capital<br />[[Bank Mendes Gans]]<br />Makelaarsland and The Baring Archive<ref>{{Cite web |url=https://www.baringarchive.org.uk/ |title=The Baring Archive}}</ref>
| homepage = {{URL|ing.com}}
}}

'''ING Group N.V.''' ({{langx|nl|ING Groep}}) is a Dutch [[multinational corporation|multinational]] [[banking]] and [[financial service]]s corporation headquartered in [[Amsterdam]]. Its primary businesses are retail banking, direct banking, commercial banking, investment banking, wholesale banking, private banking, asset management, and insurance services. With total assets of US$967.8 billion,<ref name="AR2022"/> it consistently ranks among the [[List of largest banks|largest banks globally]].

ING is the Dutch member of the [[Inter-Alpha Group of Banks]], a co-operative [[consortium]] of 11 prominent European banks.<ref>{{cite news|title=500 euro lenen? Bekijk alle mogelijkheden – 500eurolenen.nl|url=https://500eurolenen.nl/|access-date=15 May 2017|work=500 Euro Lenen|archive-date=2 June 2021|archive-url=https://web.archive.org/web/20210602212846/https://500eurolenen.nl/|url-status=dead}}</ref> Since {{clarify|text=the creation |reason=What creation?|date=May 2025}} in 2012, ING Bank is a member in the [[list of systemically important banks|list of global systemically important banks]]. It has been designated as a Significant Institution since the entry into force of [[European Banking Supervision]] in late 2014, and as a consequence is directly supervised by the [[European Central Bank]].<ref>{{cite web |website=European Central Bank |title=The list of significant supervised entities and the list of less significant institutions |url=https://www.bankingsupervision.europa.eu/ecb/pub/pdf/ssm-listofsupervisedentities1409en.pdf |date={{date|2014/09/04}} }}</ref><ref>{{cite web |website=European Central Bank |title=List of supervised entities |date={{date|2023/01/01}} |url=https://www.bankingsupervision.europa.eu/ecb/pub/pdf/ssm.listofsupervisedentities202302.en.pdf }}</ref>

In 2020, ING had 53.2 million clients in more than 40 countries.<ref>{{Cite web |url = https://www.ing.com/Newsroom/News/Press-releases/ING-posts-4Q2020-net-result-of-727-million-FY2020-net-result-of-2485-million.htm |title = ING posts 4Q2020 net result of €727 million, FY2020 net result of €2,485 million |date = 12 February 2021 }}</ref> The company is a component of the [[Euro Stoxx 50]] [[stock market index]].<ref>{{Cite web|url=http://www.boerse-frankfurt.de/en/equities/indices/euro+stoxx+50+EU0009658145/constituents|archive-url=https://web.archive.org/web/20190208093448/http://www.boerse-frankfurt.de/en/equities/indices/euro%20stoxx%2050%20EU0009658145/constituents|url-status=dead|title=Frankfurt Stock Exchange|archive-date=8 February 2019}}</ref> The long-term debt for the company as of December 2019 is €150 billion.<ref>{{Cite web|url=https://www.gurufocus.com/term/LongTermDebt/NYSE:ING/Long-Term-Debt/ING+Groep+NV|title=ING Long-Term Debt &#124; ING Groep NV - GuruFocus.com|website=www.gurufocus.com}}</ref>

ING is an abbreviation for ''{{lang|nl|Internationale Nederlanden Groep}}'' ({{lit|International Netherlands Group}}). The orange lion on ING's logo alludes to the group's Dutch origins as the color of [[Nationale-Nederlanden|NN]] and logo of [[Postbank N.V.]]<ref>{{cite web|url=http://www.ing.com/About-us/Our-stories/History-of-ING/History-of-ING-lion.htm|title=The history of the ING lion|publisher=ING|archive-url=https://web.archive.org/web/20151122000119/http://www.ing.com/About-us/Our-stories/History-of-ING/History-of-ING-lion.htm|archive-date=22 November 2015|url-status=dead}}</ref>

==History==
[[File:Roofoverval op bijkantoor Nederlandse Middenstands Bank Beethovenstraat, Amsterd, Bestanddeelnr 924-0492.jpg|left|thumb|NMB Bank in Amsterdam, 1970]]
ING Group traces its roots to two major insurance companies in the Netherlands and the banking services of the Dutch government. In 1991, the insurance branch of ''[[Nationale-Nederlanden]]'' and the banking branch of "NMB Postbank Groep" merged. NMB stands for "Nederlandsche Middenstands Bank".[[File:Detail Schrijvende Hand Marte Röling Postbank Tesselschadestraat Leeuwarden.JPG|left|thumb|[[Postbank N.V.|Postbank]] in [[Leeuwarden]], 2008]]

===Insurance===
In 1845, the fire insurance company ''Assurantie Maatschappij tegen Brandschade de Nederlanden van 1845'' ("Fire Insurance Company of the Netherlands of 1845") was founded. It grew to be the leading Dutch insurance company with branches outside the Netherlands (139 the world over by 1900). It later changed its name to "De Nederlanden van 1845". Two decades later, in 1863, the life insurance company ''Nationale Levensverzekerings Bank'' ("National Life Insurance Bank") was founded in Rotterdam. These two insurance companies made multiple acquisitions, and in 1963 merged to form the ''[[Nationale-Nederlanden]]'' insurance company. ''Nationale-Nederlanden'' expanded significantly during the 1970s and 1980s.<ref>{{cite web|url=http://www.ing.com/Our-Company/About-us/History-of-ING.htm|title=The history of ING|publisher=ING Group|date=29 March 2011|url-status=dead|archive-url=https://web.archive.org/web/20120101065813/http://www.ing.com/Our-Company/About-us/History-of-ING.htm|archive-date=1 January 2012}}</ref>

===Banking===
In 1881, the Dutch government created the ''Rijkspostspaarbank'', a [[postal savings system]] to encourage workers to start saving. Four decades later, they added ''Postcheque'' and ''[[Giro (banking)|Giro]]dienst'' services allowing working families to make payments via post offices. Separately in 1927, the Dutch government initiated a re-organization of Dutch banks which resulted in the creation of the ''Nederlandsche Middenstands Bank (NMB)''. NMB provided [[retail banking]] services in the Netherlands and abroad.

In 1986, post office banking services were privatized as [[Postbank N.V.]] and three years later it would merge with NMB bank to form ''NMB Postbank Groep''.

On 28 January 2025, ING has reached an agreement to sell its Russian operations to Global Development JSC, reducing its exposure to 1 billion euros, with the deal expected to close in 2025 and result in a 700-million-euro loss. The bank has been progressively scaling down its Russian business since 2022.<ref>{{cite news |title= Dutch bank ING to exit Russia after striking deal with investor|date=28 January 2025| work=Reuters|url= https://www.reuters.com/markets/deals/ing-groep-sell-russian-business-global-development-jsc-2025-01-28/|access-date=28 January 2025}}</ref>

===Merger of banking and insurance===
In 1991, the banking business of NMB Postbank Groep and the insurance business of Nationale-Nederlanden were merged to create '''ING Group'''.<ref>{{Cite news|date=2009-07-01|title=UPDATE 3-ING to overhaul Dutch insurance business|language=en|work=Reuters|url=https://www.reuters.com/article/ing-idUSL157374020090701|access-date=2020-09-08}}</ref>

===Further acquisitions===
[[File:ING Group structure.svg|300px|right]]
[[File:Belgique - Bruxelles - Siège de la Banque Lambert - 02.jpg|thumb|Former [[Banque Bruxelles Lambert]] headquarters in Brussels]]
Since the ING Group was founded, it has made many acquisitions:
{| class="wikitable sortable"
!Organization
!Year
!Core business
|-
|Parcom
|1994
|Asset Management
|-
|Wellington
|1995
|Insurance
|-
|[[Barings Bank]]
|1995
|Investment banking
|-
|Equitable of Iowa
|1997
|Insurance
|-
|Furman Selz
|1997
|Banking
|-
|Bank Mendes Gans
|1997
|Banking
|-
|Guardian
|1998
|Insurance
|-
|Clarion
|1998
|Asset Management
|-
|[[Bank Brussels Lambert]]
|1998
|Banking
|-
|Canadian Group Underwriters
|1999
|Insurance
|-
|[[Aetna]]
|2000
|Financial services and International units<ref>{{Cite web |date=2000-12-14 |title=Aetna/ING Sale Completed |url=https://www.insurancejournal.com/news/international/2000/12/14/10707.htm |access-date=2021-10-21 |website=Insurance Journal |language=en-US}}</ref>
|-
|ReliaStar{{efn|ReliaStar Life Insurance Company was founded in 1885 in Minneapolis, Minnesota as '''Northwestern National Life Insurance Company'''. It purchased the '''North Atlantic Life Insurance Company''' of Jericho, New York in 1967 and the '''Northern Life Insurance Company''' of Seattle in 1977. These companies were unified under the ReliaStar brand in 1995.<ref>{{Cite web|url=https://www.annuityadvantage.com/insurance-companies/reliastar-life-insurance-company/|title = ReliaStar Life Insurance Company - Profile and Review}}</ref>}}
|2000
|Insurance
|-
|Seguros Comercial América
|2001
|Insurance
|-
|[[Bank Śląski]]
|2001
|Banking
|-
|DiBa
|2002
|Banking
|-
|Allianc of Canada
|2004
|Insurance
|-
|Rodamco Asia
|2004
|Asset Management
|-
|Johnson Insurance of Canada
|2021
|Insurance
|}

===International expansion===
ING Group expanded its international business through several acquisitions through the 1990s including the Belgian bank [[Banque Bruxelles Lambert]] (BBL) in 1998, US-based insurance company ''Equitable of Iowa'' and the commercial bank ''Furman Selz''. It also acquired Frankfurt-based ''[[BHF-Bank]]'' in 1999, although it disposed of this later. It increased its [[Latin American]] and Asia Pacific insurance businesses with the acquisition of [[ReliaStar]] and [[Aetna]]'s ''Financial Services'' unit. It also acquired the Polish ''[[Bank Śląski]]'' and Mexican insurance company ''Seguros Comercial América''.

The 1995 purchase of [[Barings Bank]] for one pound after its dramatic failure led to a boost in the company's [[investment banking]] business.

Expanding its retail banking business overseas, ING used the [[direct bank]]ing business model it had developed with NMB Postbank to launch direct banking in other countries. The first of these was set up in Canada in 1997, and was soon followed in several other countries including the US, UK, Germany, Spain, Italy, France and Australia.[[File:Nationale Nederlanden, Rotterdam.jpg|thumb|[[Nationale Nederlanden]] in Rotterdam, 2014]]

===Capital injection and divestiture===
In 2008, as part of the [[2008 financial crisis]], ING Group, together with many other major banks in the Netherlands, took a capital injection from the Dutch government. This support increased ING's [[capital ratio]] above 8%, however as a condition of Dutch state aid, the EU demanded changes to the company structure, including the sale of insurance businesses in Latin America, Asia, Canada, Australia and New Zealand and ING Direct units in the US, Canada and the UK.<ref>{{cite news |title=Barclays to acquire ING Direct UK |url=https://www.bbc.co.uk/news/business-19880659|publisher=BBC News|access-date=9 October 2012|date=9 October 2012}}</ref> This included the sale of the ING Direct US operations to [[Capital One]], ING Direct Canada to [[Scotiabank]] (doing business as [[Tangerine Bank|Tangerine]]) and the ING Direct UK operations to [[Barclays Bank]] in 2012.<ref>{{cite web|title=ING Direct Has Merged with Capital One-May Affect Your FDIC Insurance|url=http://www.nerdwallet.com/blog/2012/ing-direct-capital-one|publisher=NerdWallet.com|access-date=26 September 2012|url-status=dead|archive-url=https://web.archive.org/web/20121117013148/http://www.nerdwallet.com/blog/2012/ing-direct-capital-one/|archive-date=17 November 2012}}</ref><ref name="Barclays to acquire ING Direct UK">{{cite news|url=https://www.bbc.co.uk/news/business-19880659|title=Barclays to acquire ING Direct UK|publisher=BBC News|date=9 October 2012|access-date=9 October 2012}}</ref> The spun-off insurance businesses in North America were renamed [[Voya Financial]] in 2014.

In April 2016, ING sold the last shares in NN Group, making it exclusively a bank again.

Since the largest settlement ever in the Netherlands by Vimpelcom in 2016, its house banker ING has also come under fire from the Public Prosecutor's Office.<ref>{{Cite web |date=2018-06-25 |title=Onderzoek OM naar betrokkenheid ING bij witwassen duurt langer |url=https://www.rtlnieuws.nl/economie/artikel/4255106/onderzoek-om-naar-betrokkenheid-ing-bij-witwassen-duurt-langer |access-date=2023-05-18 |website=RTL Nieuws |language=nl}}</ref> As a result of the Vimpelcom case, among others, it was announced in 2018 that ING reached a €775 million settlement with the Public Prosecutor's Office. According to the prosecution, the bank was negligent in preventing money laundering. Between 2010 and 2016, clients misused accounts at ING to launder hundreds of millions of euros.<ref>{{Cite web |date=2018-09-04 |title=ING schikt voor honderden miljoenen wegens faciliteren witwassen |url=https://nos.nl/artikel/2248874-ing-schikt-voor-honderden-miljoenen-wegens-faciliteren-witwassen.html |access-date=2023-05-18 |website=nos.nl |language=nl}}</ref>

In February 2018, ING bought fintech company Payvision founded by Rudolf Booker for 350 million.<ref>{{Cite web |title=Verdachte oprichter Payvision: 'Ik rijd al jaren geen Ferrari meer' |url=https://fd.nl/financiele-markten/1456506/ik-rijd-al-jaren-geen-ferrari-meer |access-date=2023-05-18 |website=FD.nl |language=nl}}</ref>

In July 2025, ING Group finalised the acquisition of a 17.6% stake in private bank [[Van Lanschot Kempen]], thus bringing its total share to 20.3%.<ref>{{Cite web |date=24 July 2025 |title=ING completes acquisition of Van Lanschot Kempen stake |url=https://www.ing.com/Newsroom/News/Press-releases/ING-completes-acquisition-of-Van-Lanschot-Kempen-stake.htm |access-date=9 October 2025}}</ref>

== Controversies ==
ING Bank has faced criticism for maintaining operations in Russia despite the sanctions and geopolitical tensions following the Russian invasion of Ukraine. According to the [[Leave Russia]] project, the bank continues to operate in the region, raising ethical concerns about its business practices and its alignment with international sanctions.<ref>{{Cite web |title=ING Bank |url=https://leave-russia.org/ing-bank |access-date=2025-01-23 |publisher=Leave Russia}}</ref>

==Global operations==
<!--as of March 2014 the map is out of date... [[File:Map of ING.svg|thumb|ING Group global locations]]-->

As of 2022, ING operates in the following countries:<ref>{{Cite web |last=ING.com |title=An extraordinary year |url=https://www.ing.com/Investor-relations/Financial-performance/Annual-reports.htm |access-date=2023-08-07 |website=ING.com |language=en-US}}</ref>

* Core markets:
** [[Netherlands]] (ING Bank N.V)
** [[Belgium]] (ING in Belgium)
** [[Luxembourg]] (ING in Luxembourg)
* Challengers markets:
** [[Australia]] ([[ING Australia]])
** [[Germany]] (ING-DiBa AG)
** [[Italy]] (Branch of ING Bank N.V.)
** [[Spain]] (Branch of ING Bank N.V.)
* Growth markets:
** [[Poland]]  ([[ING Bank Śląski]])
** [[Romania]] (Branch of ING Bank N.V.)
** [[Turkey]] ([[ING (Turkey)|ING Turkey]])
{{Div col|colwidth=30em}}
* Wholesale Banking
** Europe
*** [[United Kingdom]] (Branch of ING Bank N.V.)
*** [[France]] (Branch of ING Bank N.V.)
*** [[Russia]] (ING Bank (Eurasia)
*** [[Czech Republic]] (Branch of ING Bank N.V.)
*** [[Hungary]] (Branch of ING Bank N.V.)
*** [[Slovakia]] (Branch of ING Bank N.V.)
*** [[Ukraine]] (PJSC ING Bank Ukraine)
*** [[Austria]] (Branch of ING Bank N.V.)
*** [[Bulgaria]] (Branch of ING Bank N.V.)
*** [[Ireland]] (Branch of ING Bank N.V.)
*** [[Portugal]] (Branch of ING Bank N.V.)
*** [[Switzerland]] (Branch of ING Bank N.V.)
** Americas
*** [[Canada]] (Payvision Canada Services) <small>In liquidation</small>
*** [[United States]] (ING Financial Holdings)
*** [[Brazil]] (Branch of ING Bank N.V.) <small>Closed in 2022</small>
*** [[Colombia]] (ING Capital Colombia) <small>Dissolved in 2021</small>
*** [[Mexico]] (ING Consulting)
** Asia and Australia
*** [[China]] (Branch of ING Bank N.V.)
*** [[Japan]] (Branch of ING Bank N.V.)
*** [[Singapore]] (Branch of ING Bank N.V.)
*** [[Macau]] (Payvision Macau Ltd.) <small>Liquidated in 2022</small>
*** [[Hong Kong]] (Branch of ING Bank N.V.)
*** [[Philippines]] (Branch of ING Hubs N.V.)
*** [[South Korea]] (Branch of ING Bank N.V.)
*** [[Taiwan]] (Branch of ING Bank N.V.)
*** [[Indonesia]] (PT ING Securities Indonesia) <small>Liquidated in 2022</small>
*** [[Malaysia]] (Branch of ING Bank N.V.) <small>Closed in 2022</small>
*** [[India]] (Branch of ING Hubs B.V.)
*** [[Sri Lanka]] (Branch of ING Hubs B.V.)
*** [[United Arab Emirates]] (Branch of ING Bank N.V.)
*** [[Mauritius]] (ING Mauritius Investment I) <small>Liquidated in 2022</small>
{{div col end}}

==Global headquarters==
[[File:Lexence Building (208568017).jpeg|thumb|[[ING House]], former HQ in Amsterdam]]
Following the separation of ING Group into ING Bank and ING Insurance, the head office of ING Bank and ING Group was the Amsterdamse Poort building.<ref>{{Cite web |last=ING.com |date=2015-07-01 |title=On the move |url=https://www.ing.com/Newsroom/News/On-the-move.htm |access-date=2024-10-10 |website=ING.com |language=en-US}}</ref>

ING's corporate head office is situated in Cumulus Park, Amsterdam's innovation district in the south-east of the city. The five-storey building has a glass facade and is named after the Cedar tree, symbolising sustainability and growth. Its framework, with its layered branches and open spaces in between, is characteristic of a Cedar.<ref>{{cite web|title=ING Head office|url=https://www.ing.com/About-us/Profile/Head-office-1.htm|publisher=ING.com|url-status=dead|archive-url=https://web.archive.org/web/20140318033751/http://www.ing.com/About-us/Our-stories/ING-Head-office.htm|archive-date=18 March 2014|access-date=1 September 2012}}</ref>

[[ING House]] was the head office of NN Group and located in the business district of [[Zuidas]] in [[Amsterdam]], Netherlands from 2012 to 2014.<ref>[http://nos.nl/artikel/634200-ing-verlaat-de-schoen.html ING verlaat 'de schoen'] (in Dutch), [[Nederlandse Omroep Stichting|NOS]], 2014. Retrieved 22 November 2015.</ref> It was designed by Roberto Meyer and Jeroen van Schooten ({{Interlanguage link|Meyer en Van Schooten|nl}}) and was officially opened on 16 September 2002 by then Prince [[Willem-Alexander of the Netherlands]].

==Recent notable transactions==

===Capital injection and repayment===
In October 2008, in a move to increase its core [[Tier 1 capital]] ratio above 8%, ING Group accepted a capital injection plan from the Dutch Government.<ref>{{Cite news|last=Jolly|first=David|date=2008-10-19|title=ING receives €10 billion from Dutch government|language=en-US|work=The New York Times|url=https://www.nytimes.com/2008/10/19/business/worldbusiness/19iht-ing.4.17084433.html|access-date=2020-09-08|issn=0362-4331}}</ref> The plan supplied €10&nbsp;billion (US$13.5&nbsp;billion) to the operation, in exchange for securities and veto rights on major operational changes and investments. The European Commission also required ING to divest itself of its insurance and investment management operations by the end of 2013 as a condition of approving the state aid.<ref>{{Cite news|last1=JOLLY|first1=DAVID|last2=DASH|first2=ERIC|date=2009-10-26|title=ING to Split in Two Amid $11.3 Billion Rights Issue|language=en-US|work=The New York Times|url=https://www.nytimes.com/2009/10/27/business/global/27iht-ing.html|access-date=2020-09-08|issn=0362-4331}}</ref>

In December 2009, ING raised €7.3&nbsp;billion through share issues, and repurchased securities representing half of the €10&nbsp;billion in state aid.<ref>{{Cite news|last=Saltmarsh|first=Matthew|date=2009-12-11|title=Dutch Bank ING to Repay Half of Its Bailout Debt|language=en-US|work=The New York Times|url=https://www.nytimes.com/2009/12/12/business/global/12ing.html|access-date=2020-09-08|issn=0362-4331}}</ref> It repurchased another €2&nbsp;billion in May 2011 (at a 50% premium), and looked to complete the repayments by May 2012. However, in January 2012 it cited eurozone conditions in putting the repayment timetable as 2012–2013 for the remaining €3&nbsp;billion. The final tranche of €1.025&nbsp;billion was paid on 7 November 2014, half a year ahead of the repayment schedule as agreed with the European Commission in 2012.<ref>{{Cite web|date=2 April 2015|title=State aid for ING: the facts and figures|url=https://www.ing.com/Newsroom/News/Features/Feature/State-aid-for-ING-the-facts-and-figures.htm|website=ING.com}}</ref>

===Latin American divestment===
In July 2011, ING sold all its Latin American insurance operations to the [[Colombia]]n insurance company [[Grupo Sura]] for US$3.85&nbsp;billion, excluding ING's 36 percent holding in Brazilian insurer [[SulAmérica Seguros]], which was sold at a later date.<ref>{{Cite news|date=2011-07-25|title=UPDATE 6-ING sells LatAm ops to Colombia's GrupoSura|language=en|work=Reuters|url=https://www.reuters.com/article/ing-idUSLDE76O03R20110725|access-date=2020-09-08}}</ref> The actions were in line with EU demands to split the Group's banking and insurance operations as a condition of [[Netherlands|Dutch]] state aid.<ref>{{cite news|date=25 July 2011|title=ING sells Latin American insurance operations|work=[[The Globe and Mail]]|location=Toronto|url=https://www.theglobeandmail.com/report-on-business/international-news/ing-sells-latin-american-insurance-operations/article2108509/}}</ref> In 2013, ING reduced its stake in SulAmérica Seguros by 7.2%.<ref>{{Cite news|date=2013-02-28|title=ING cuts stake in Brazil's SulAmérica in effort to shed assets|language=en|work=Reuters|url=https://uk.reuters.com/article/sulamerica-ing-stake-idUKL1N0BS6Q120130228|access-date=2020-09-08}}{{dead link|date=September 2024|bot=medic}}{{cbignore|bot=medic}}</ref>

===2012 settlement with US Treasury Department===
On 12 June 2012, the US Department of the Treasury's [[Office of Foreign Assets Control]] announced a US$619&nbsp;million settlement<ref>{{cite web|title=U.S. Treasury Department Announces $619 Million Settlement with ING Bank, N.V.|url=http://www.treasury.gov/press-center/press-releases/Pages/tg1612.aspx|publisher=[[U.S. Department of the Treasury]]|access-date=13 June 2012}}</ref> with ING Bank N.V. to settle potential liability for conspiring to violate<ref>{{cite web|title=ING Bank N.V. Agrees to Forfeit $619 Million for Illegal Transactions with Cuban and Iranian Entities|date=12 June 2012|url=https://www.justice.gov/opa/pr/2012/June/12-crm-742.html|publisher=[[U.S. Department of Justice]]|access-date=14 September 2012}}</ref> the [[International Emergency Economic Powers Act]] (IEEPA) and the [[Trading with the Enemy Act]] (TWEA) and for violating New York state laws by illegally moving billions of dollars through the U.S. financial system on behalf of sanctioned Cuban and Iranian entities.<ref name=":0">{{Cite news|last=Lowrey|first=Annie|date=2012-06-12|title=ING Bank to Pay $619 Million to Settle Inquiry Into Sanctions Violations|language=en-US|work=The New York Times|url=https://www.nytimes.com/2012/06/13/business/ing-bank-to-pay-619-million-over-sanctions-violations.html|access-date=2020-09-08|issn=0362-4331}}</ref> ING Bank settled at the same time with OFAC, the US Attorney's Office for the District of Columbia, the New York County District Attorney's Office and the Department of Justice's National Security Division and Justice's Asset Forfeiture and Money Laundering Section.<ref name=":0" />

Under the settlement agreement, ING Bank is required to conduct a review of, and to submit a report to the Treasury Department.<ref name=":0" />

=== Activities ===
Beginning in the 1990s, at the instruction of senior bank management, ING Bank employees in [[Curaçao]] began processing payments for ING Bank's [[Cuba]]n banking operations through its branch in Curaçao on behalf of Cuban customers without reference to the payments' origin. The practice of removing and omitting such information was used by other branches of ING Bank's Wholesale Banking Division, including in France, Belgium, and the Netherlands, in processing US dollar payments and trade finance transactions through the United States. In addition, ING Bank's senior management in France authorised, advised in the creation of, and ultimately provided fraudulent endorsement stamps for use by Cuban financial institutions in processing travelers check transactions, which disguised the involvement of Cuban banks in these transactions when they were processed through the US. ING Bank's Trade and Commodity Finance business at its Wholesale Banking branch in the Netherlands routed payments made on behalf of US-sanctioned Cuban clients through other corporate clients to obscure the sanctioned clients' identities and its [[Romania]]n branch omitted details from a letter of credit involving a US financial institution to finance the exportation of US-origin goods to Iran.{{citation needed|date=November 2013}}

Other notable activities:
*In 2004, ING Groep sold CenE Bankiers, which had previously been part of NMB, to F. [[Van Lanschot]] Bankiers.<ref>{{cite web |url=http://www.researchandmarkets.com/reports/1856602/f_van_lanschot_bankiers_and_ing_groep_ratings |title=F. Van Lanschot Bankiers and ING GROEP Ratings Affirmed on CenE Bankiers Sale Agreement Jul 04 |date=July 2004 |access-date=1 July 2013 |archive-date=12 June 2015 |archive-url=https://web.archive.org/web/20150612055103/http://www.researchandmarkets.com/reports/1856602/f_van_lanschot_bankiers_and_ing_groep_ratings |url-status=dead }}</ref>
*On 25 March 2005, the company announced the acquisition of a 19.9% stake in the Bank of Beijing and the deal was worth about 1.7 billion yuan, or $200 million.<ref>{{cite journal |title=ING to Acquire Stake in Bank of Beijing |journal=American Banker |date=25 March 2005 |volume=170 |issue=58 |page=20 |url=https://www.americanbanker.com/news/ing-to-acquire-stake-in-bank-of-beijing }}</ref>
*In January 2013, ING announced it had sold its 26% stake in India's Vysya Life Insurance to joint partner [[Exide Industries]].<ref>{{cite news| url=http://uk.reuters.com/article/us-ing-vysyalife-sale-idUKBRE90M0IQ20130123| title=ING sells stake in India's Vysya Life Insurance| work=Reuters | date=23 January 2013}}{{dead link|date=September 2024|bot=medic}}{{cbignore|bot=medic}}</ref>
*In January 2016, ING Groep NV's banking unit invested in a leading Chinese [[fintech]] player, [[WeLab]].<ref>{{cite web|url=https://www.bloomberg.com/news/articles/2016-01-20/ing-khazanah-invest-in-fintech-firm-backed-by-billionaire-li-ijmg9rru|title=ING, Khazanah Invest in Firm Backed by Billionaire Li|date=20 January 2016|publisher=Bloomberg News}}</ref> This contributed to the second largest Series B fundraising in [[fintech]] globally.<ref>{{cite web |url=https://assets.kpmg.com/content/dam/kpmg/pdf/2016/05/the-pulse-of-fintech.pdf |title= The Pulse of Fintech, Q1 2016 |date=May 26, 2016 |website=assets.kpmg.com |access-date=2020-04-14}}</ref>
*In March 2018, ING and Credit Suisse completed the first live [[securities lending]] transaction worth €25 million using an application from HQLAx, a financial technology firm, that was built on Corda.<ref>{{Cite news|url=https://uk.reuters.com/article/uk-blockchain-securities-idUKKCN1GD4DW|archive-url=https://web.archive.org/web/20181207123622/https://uk.reuters.com/article/uk-blockchain-securities-idUKKCN1GD4DW|url-status=dead|archive-date=7 December 2018|title=Banks complete 25 million euros securities transaction on blockchain platform|date=1 March 2018|work=Reuters|access-date=5 December 2019|language=en}}</ref> ING has also invested in several blockchain projects, including Komgo, that aims to automate a variety of transactions using the [[Ethereum]].<ref>{{Cite web|url=https://www.forbes.com/sites/michaeldelcastillo/2019/04/16/blockchain-50-billion-dollar-babies/|title=Blockchain 50: Billion Dollar Babies|last=Castillo|first=Michael del|date=16 April 2019|website=Forbes|language=en|access-date=5 December 2019}}</ref>
*In December 2025, ING announced the launch of instant EUR incoming payments, without fees, for individuals, companies, and businesses.<ref>{{Cite web |title=ING Bank to launch instant EUR incoming payments {{!}} The Paypers |url=https://thepaypers.com/fintech/news/ing-bank-launches-instant-eur-incoming-payments |access-date=2025-12-15 |website=thepaypers.com |language=en}}</ref>

===ING US IPO and re-brand===
In 2013, [[ING U.S.]] was spun off in an [[initial public offering]] ahead of its planned rebranding as '''Voya Financial'''. As of 2014, ING Group is no longer the controlling shareholder of its former subsidiary, owning 47% of its shares.<ref>{{cite web |url=http://www.desmoinesregister.com/article/20140325/BUSINESS08/303250070/ING-U-S-to-get-new-name-along-with-corporate-ethics-honor |title=ING U.S. To get new name along with corporate ethics honor &#124; the des Moines Register &#124; desmoinesregister.com |website=[[The Des Moines Register]] |access-date=25 March 2014 |url-status=dead |archive-url=https://archive.today/20140325194600/http://www.desmoinesregister.com/article/20140325/BUSINESS08/303250070/ING-U-S-to-get-new-name-along-with-corporate-ethics-honor |archive-date=25 March 2014 }}</ref>

==Divisions==
[[File:ING Bank Nieuw-Vennep.jpg|thumb|An ING Bank in [[Nieuw-Vennep]], the Netherlands]]

=== Retail banking ===
Separate to ING Direct businesses, ING offers retail banking services in Australia, Austria, Belgium, Czech Republic, Germany, Poland, Italy, Luxembourg, Netherlands, Romania, Spain, Turkey and Philippines. Non-retail private banking services are offered in Netherlands, Belgium, Luxembourg, Switzerland and various countries in Asia and Central Europe.

In the Netherlands, ING is the largest retail bank by market share, holding 40% of current account deposits,{{when|date=July 2022}} <ref>{{cite web|url=http://www.oecd.org/dataoecd/16/54/39347699.pdf |title=OECD.org |access-date=14 October 2013}}</ref> and by total assets.<ref>{{Cite web|url=https://thebanks.eu/articles/major-banks-in-the-Netherlands|title=Major Banks in the Netherlands|website=thebanks.eu|date=2 October 2016}}</ref> ING is followed by [[Rabobank]] (30%), [[ABN AMRO]] (20%), and others (10%).

====In Belgium====
'''ING Belgium''' is the Belgian subsidiary of ING Group. The bank was formerly known as [[Bank Brussel Lambert]] (BBL) which became part of ING Group in 1998.  It provides [[retail banking|retail]] and [[commercial bank]]ing services to individuals and businesses in Belgium, together with related financial products such as insurance and asset management. BBL was created in 1975 from the merger of [[Banque de Bruxelles]] and [[Banque Lambert]]. It made a 2021 profit of €948 million.<ref name=2021-annual-report>{{cite web |title=annual results belgium 2021 |url=https://newsroom.ing.be/2021-full-year-results-ing-in-belgium-sees-revenues-rise-above-3-billion-and-posts-nearly-950-million-profit |website=ing.be |date=3 February 2022 |publisher=ING.COM |access-date=2022-04-27}}</ref>

===Shareholdings in other banks===
ING has a 17% stake in the [[Bank of Beijing]], the largest urban commercial bank in China.<ref>{{Cite news|url=https://www.ing.com/Newsroom/All-news/Features/Feature/Bank-of-Beijing-and-ING-sign-MoUs.htm|title=Bank of Beijing and ING sign MoUs|last=ING.com|date=9 September 2011|work=ING.com|access-date=7 April 2017|language=en}}</ref>

In Thailand, ING has a 30% stake in [[TMB Bank]], a universal banking platform with a nationwide network.<ref>{{Cite news|url=https://www.theglobeandmail.com/report-on-business/ing-to-buy-30-stake-in-thai-bank-tmb/article697416/|title=ING to buy 30% stake in Thai bank TMB|access-date=9 March 2018}}</ref> In 2013 ING announced intent to sell its stake in TMB bank.<ref>{{Cite news|url=https://www.reuters.com/article/us-ing-tmb/ing-puts-775-million-thailand-bank-stake-on-block-sources-idUSBRE82M05520120323|title=ING puts $775 million Thailand bank stake on block: sources|date=23 March 2012|work=Reuters|access-date=9 March 2018}}</ref>
[[File:Katowice - BSKING.JPG|thumb|ING Bank Śląski headquarters in[[Katowice]], Poland]]
In Poland, the group in 1996 became the [[Silesian Bank]]'s majority [[shareholder]]. In 2001 Bank Śląski merged with ING Bank N.V. Branch in [[Warsaw]]. Since then, the bank is operating under the name of [[ING Bank Śląski]].

===Direct Banking===
ING offers [[virtual bank|branchless banking]] with operations in Australia, Italy, Spain, Germany and Austria. It offers services over the counter, web, phone, ATM or by mail. The service concentrates on simple interest-bearing savings accounts for retail customers. Originally created as ''ING Direct'', these branches were renamed<ref>{{Cite web|url=https://www.ing.com/Newsroom/All-news/From-ING-Direct-to-just-ING.htm|title=From ING Direct to 'just' ING|last=ING.com|date=18 August 2017|website=ING.com|language=en-US|access-date=11 January 2019|archive-date=10 September 2018|archive-url=https://web.archive.org/web/20180910061251/https://www.ing.com/Newsroom/All-news/From-ING-Direct-to-just-ING.htm|url-status=dead}}</ref> to ''ING'' between 2017 and 2019.

====In Australia====
{{main|ING Australia}}

ING in Australia was established in 1999 and is headquartered in Sydney, offering banking online and via telephone. Its products in Australia include transaction accounts, savings accounts, credit card, business accounts, term deposits, home loans and superannuation.

Company operations are regulated by the [[Australian Prudential Regulation Authority]] and the [[Australian Securities and Investments Commission]], Federal Government regulators. ING is a division of ING Bank (Australia) Limited.

====In Germany====
ING-DiBa is Germany's third biggest bank by the number of customers (c. 9 million).<ref>{{Cite journal|url=https://www.economist.com/finance-and-economics/2017/11/09/ing-a-dutch-bank-finds-a-winning-digital-strategy|title=ING, a Dutch bank, finds a winning digital strategy|last=Economist|date=9 November 2017|journal=Economist|access-date=26 May 2018}}</ref><ref>{{Cite web|url=https://www.ing-diba.de/ueber-uns/unternehmen/|title=ING-DiBa Overview|last=ING-DiBa|website=ING-DiBa|access-date=26 May 2018}}</ref> In 2016, the bank reported total assets of €158 billion and had around 3,900 employees. ING bought 49% of Allgemeine Deutsche Direktbank AG in 1998, which as of 1989 traded as DiBa. It acquired a further 21% of the company in 2002 and the remainder by 2003. By 2007, the company was trading under the name ING-DiBa. In November 2018, the bank changed its brand name to ING.<ref>{{Cite web|url=https://www.ing-diba.de/ueber-uns/wissenswert/ing/|title=Neues ING-DiBa Logo|website=ING|language=de|access-date=3 January 2019}}</ref>

==== In Italy ====
Founded in 2001, ING in Italy has around 1.3 million customers. It is currently opening its own "bank shops" in the major towns, where customers can operate services on usual web channels, assisted or not by branch operators, and use advanced teller machines for cash and check transactions.

==== In Philippines ====
{{see also|Digital Banks in the Philippines}}
Operates exclusively through mobile app. ING has two offices in Taguig, Metro Manila; World Plaza Building and Arthaland Century Pacific Tower. 
Mobile system started in 2019 prior to the pandemic, and offered one of the highest interest rates for the first few months of operations. It was one of the first banks that allowed check deposits via image capture using a mobile phone. 
<ref>{{cite web | url=https://ing.com.ph/our-story | title=ING Philippines &#124; Bank with High Interest & No Fees }}</ref>

===Wholesale Banking===
[[File:8-10 Moorgate London EC2R 6DA.jpg|thumb|ING Wholesale Banking, [[London]] office]]

ING Wholesale Banking provides banking and financial services to corporations and other institutions. The primary geographic focus of the wholesale banking business is the Netherlands, Belgium, Poland and Romania, where it offers a range of products, from cash management to corporate finance. Elsewhere, it takes a more selective approach to clients and products.{{citation needed|date=June 2019}}

ING Wholesale Banking was strengthened in 1995, when ING took over [[Barings Bank]]. This acquisition increased the brand recognition of ING around the world and strengthened its Wholesale Banking presence in the emerging markets. Following the acquisition and up until 2004, ING's investment banking division was called ING Barings, at which point it severed its ties with the Barings name and combined with ING's other wholesale banking operations. However, the top floor of ING's London office is still home to the famous Baring art collection,<ref>{{cite web|url=http://www.baringarchive.org.uk/ |title=Baringarchive.org.uk |access-date=14 October 2013}}</ref> and the Baring Foundation,<ref>{{cite web|url=http://www.baringfoundation.org.uk/ |title=Baringfoundation.org.uk |publisher=Baringfoundation.org.uk |access-date=14 October 2013}}</ref> a charitable foundation.

Wholesale Banking is divided into a number of sub-divisions, including Structured Finance, Financial Markets, Transaction Services and Corporate Finance. ING Wholesale Banking is the new name for ING Commercial Banking as of 20 January 2016. The new name better reflects the large corporate and institutional, international offering that makes up the vast majority of ING WB's business.<ref>{{Cite web|last=ING.com|date=2016-01-20|title=ING Commercial Banking renamed ING Wholesale Banking|url=https://www.ing.com/Newsroom/News/ING-Commercial-Banking-renamed-ING-Wholesale-Banking.htm|access-date=2020-07-27|website=ING.com|language=en-US}}</ref>

====Corporate finance====
ING's Corporate Finance department advises businesses on important corporate transactions, including mergers and acquisitions, initial public offerings, secondary offerings, share buy-backs and management buy-outs. The division is headed by Rob van Veldhuizen (Global Head Corporate Finance).

ING Corporate Finance has a strong presence in Russia and Central and Eastern Europe.{{Citation needed|date=April 2018}}

===Insurance===
{{Update|section|date=June 2021}}
ING's insurance business operates throughout America, Asia and Europe.

In 2009, ING announced plans to separate its insurance business from its main banking operations through two IPO's, one for Europe and Asia and another one for the US. The EuroAsia IPO has been delayed while the US IPO is supposed to be completed by the end of 2012. Analysts estimate that the insurance arm is worth up to €16&nbsp;billion.<ref>{{cite web |last=Steen |first=Michael |url=http://cachef.ft.com/cms/s/0/aa675a66-ce92-11de-8812-00144feabdc0.html |archive-url=https://web.archive.org/web/20160303195933/http://cachef.ft.com/cms/s/0/aa675a66-ce92-11de-8812-00144feabdc0.html |url-status=dead |archive-date=3 March 2016 |title=Cachef.ft.com |publisher=Cachef.ft.com |date=11 November 2009 |access-date=14 October 2013 }}</ref>

As of February 2009, ING Canada (the insurance arm) is no longer a subsidiary of ING Group. ING Group's 70% equity interest was spun off for US$2.2&nbsp;billion. The company (which has an 11% share of Canada's property and casualty insurance market) was then renamed [[Intact Financial|Intact Financial Corporation]] in May 2009. ING Group continued to operate ING Bank of Canada, also known as ING Direct Canada.<ref>{{cite web|url=http://www.newswire.ca/en/releases/archive/February2009/23/c2918.html|title=ING Canada to rebrand its ING Insurance subsidiary|date=23 February 2009}}</ref>

ING sold its Malaysian insurance business to [[American International Assurance]] in October 2012 for a total of €1.3 billion.<ref>{{cite news| url=https://www.bloomberg.com/news/2012-10-10/ing-agrees-to-sell-malaysia-unit-to-aia-group.html| title=ING Agrees to Sell Malaysia Unit to AIA Group | author=Cathy Chan and Maud van Gaal  | publisher=Bloomberg | date=11 October 2012}}</ref>

====ING Australia====
{{main|ING Australia}}

ING Insurance Australia was purchased by [[Australia and New Zealand Banking Group|ANZ]] in 2009, and rebranded as "OnePath" in 2010.<ref>{{cite web|url=http://www.onepath.com.au/aboutOnePath/9890.aspx|title=Our brand history|publisher=[[OnePath]]|access-date=5 January 2012|archive-date=7 January 2012|archive-url=https://web.archive.org/web/20120107233118/http://www.onepath.com.au/aboutOnePath/9890.aspx|url-status=dead}}</ref> [[ING Australia]] remains a subsidiary of ING group.

==Former divisions==
===NN Investment Partners===
In June 2014, ING announced the IPO of its investment management arm as part of a wider corporate restructuring.<ref>{{Cite news|url=https://www.ing.com/Newsroom/All-news/Press-releases/PR/ING-announces-intention-to-launch-Initial-Public-Offering-of-NN-Group-and-listing-on-Euronext-Amsterdam.htm|title=ING announces intention to launch Initial Public Offering of NN Group and listing on Euronext Amsterdam|last=ING.com|date=5 June 2014|work=ING.com|access-date=5 July 2017|language=en}}</ref> The business are to be consolidated in [[NN Group]] and subsequently floated. The IPO was priced on 1 July 2015.<ref>{{Cite news|url=https://www.ing.com/Newsroom/All-news/Press-releases/PR/ING-prices-NN-Group-shares-at-EUR-20.00-in-IPO.htm|title=ING prices NN Group shares at EUR 20.00 in IPO|last=ING.com|date=1 July 2014|work=ING.com|access-date=5 July 2017|language=en}}</ref> ING Investment Management was subsequently rebranded as [[NN Investment Partners]].<ref>{{Cite news|url=http://citywireselector.com/news/ing-investment-management-rebrands-as-nn-investment-partners/a808058|title=ING Investment Management rebrands as NN Investment Partners|work=Citywire Global|access-date=5 July 2017|language=en}}</ref> On 19 August 2021, was announced an acquisition of NN Investment Partners by Goldman Sachs for approximately €1.6 billion.<ref>{{cite web | url=https://www.goldmansachs.com/pressroom/press-releases/2021/announcement-19-aug-2021 | title=Goldman Sachs to Acquire NN Investment Partners }}</ref> The sale was completed in April 2022.<ref>{{cite web | url=https://www.nn-group.com/news/nn-group-completes-sale-of-nn-investment-partners_20220902115040626/ | title=NN Group completes sale of NN Investment Partners }}</ref>

===ING Direct Canada===

{{See also|Tangerine Bank}}
ING's history in Canada dates back to 1997 when it founded '''ING Direct Canada''', the first ING Direct operation in the world.<ref>{{cite web|title=About Us|url=http://www.tangerine.ca/en/about-us/|work=Tangerine|access-date=17 April 2014}}</ref> By July 2011, ING Direct Canada had over 1.7 million clients, employed over 900 people and had over US$37.6 billion in assets. ING Direct Canada operated five 'Save Your Money Cafés' ([[Branch (banking)|branches]]) in the major cities of Toronto, Montréal, Calgary and Vancouver.

Its products included savings accounts, tax-free savings accounts (TFSAs), mortgages, retirement savings plans (RSPs), guaranteed investments (GICs), mutual funds, business accounts and a no-fee daily checking accounts. They were known for using a referral program as part of their advertising, allowing members to refer friends whereby both the referrer and referee receive a cash bonus.<ref>{{cite web|url=http://houseoforangekeys.blogspot.com|title=House of Orange Keys: A list of working Orange Keys for ING House of Orange Keys|publisher=House of Orange Keys|access-date=18 July 2012}}</ref>

On 29 August 2012, [[Scotiabank]] announced the acquisition of ING Direct Canada for [[Canadian dollar|C$]]3.13 billion.<ref>{{cite web|title=Scotiabank to buy ING Bank of Canada for $3.13 billion in cash|url=http://www.ctvnews.ca/business/scotiabank-to-buy-ing-bank-of-canada-for-3-13-billion-in-cash-1.935199|archive-url=https://archive.today/20130110112404/http://www.ctvnews.ca/business/scotiabank-to-buy-ing-bank-of-canada-for-3-13-billion-in-cash-1.935199|url-status=dead|archive-date=10 January 2013|publisher=[[The Canadian Press]]|date=29 August 2012|access-date=29 August 2012}}</ref> The sale was completed on 15 November 2012.<ref>{{cite news|title=ING completes sale of ING Direct Canada|url=https://www.reuters.com/article/2012/11/15/idUS140860+15-Nov-2012+HUG20121115|publisher=Reuters|date=15 November 2012|url-status=dead|archive-url=https://web.archive.org/web/20150924172026/http://www.reuters.com/article/2012/11/15/idUS140860+15-Nov-2012+HUG20121115|archive-date=24 September 2015}}</ref> In November 2013, Scotiabank announced the rebranding of ING Direct Canada as [[Tangerine (Bank)|Tangerine]] with the rebranding taking effect on 8 April 2014.<ref name=torstar-tangerine>{{cite news|title=ING Direct renames itself Tangerine|url=https://www.thestar.com/business/personal_finance/2013/11/05/ing_direct_renames_itself_tangerine.html|work=Toronto Star|access-date=13 November 2013|date=5 November 2013}}</ref>

=== ING Direct France ===
Founded in 2000, ING in France had around 1 million customers at peak. It started offering current accounts in 2009 and home loans in 2015. Formerly ING Direct, the bank changed its name to ING in January 2019.<ref>{{Cite web |last=ing-backoffice |date=2019-01-09 |title=ING Direct change de nom et devient tout simplement ING |url=https://newsroom.ing.fr/ing-direct-change-nom-devient-ing-tout-simplement/ |access-date=2023-01-15 |website=Newsroom - ING en France |language=fr-FR}}</ref>

In 2022 ING closed its direct banking business in France<ref>{{Cite web |title=ING leaves French retail banking, collective action expected |url=https://thepaypers.com/online-mobile-banking/ing-leaves-french-retail-banking-collective-action-expected--1258039 |access-date=2023-01-11 |website=thepaypers.com |language=en}}</ref> which was never profitable, and sold its retail customer portfolio (but not the business itself) to {{ill|Boursorama|fr|Boursorama|lt=Boursorama,}} a direct banking subsidiary of [[Société Générale]].

ING kept its wholesale and investment banking business in France.

===ING Direct United Kingdom===

ING Direct began operations in the UK in May 2003 and had over one million customers by 2009. Operations were based in [[Reading, Berkshire|Reading]], where the company head office was situated as well as an office based in [[Cardiff]].{{citation needed|date=October 2020}} The bank picked up awards for its customer services and mortgage product in 2008 and 2009.<ref>{{Cite web|url=https://www.informamarkets.com/en/home.html|title=Informa Markets|website=www.informamarkets.com}}</ref>

On 8 October 2008, ING purchased the savings accounts of collapsed Icelandic bank, [[Kaupthing Singer & Friedlander]], the UK Treasury used the [[Banking (Special Provisions) Act 2008]] to transfer the Kaupthing Edge deposit business to ING Direct.<ref>{{cite web|url=http://www.hm-treasury.gov.uk/press_102_08.htm|title=Kaupthing Singer & Friedlander|publisher=[[HM Treasury]]|date=8 October 2012|url-status=dead|archive-url=https://web.archive.org/web/20081211183449/http://www.hm-treasury.gov.uk/press_102_08.htm|archive-date=11 December 2008}}</ref> Through this, ING Direct took over responsibility for £2.5&nbsp;billion of deposits of 160,000 UK customers with the Icelandic bank [[Kaupthing Edge]].

ING Direct products in the UK included savings accounts, [[Cash ISA]]s, [[mortgages]] and [[home insurance]].

ING announced a plan to exit the UK in August 2012, as it sought to raise funds to repay the Dutch government. On 9 October 2012 [[Barclays]] announced that it had agreed to buy ING Direct UK, taking on its £10.9bn deposits and £5.6bn mortgage book. ING said it would incur a €320m (£260m; $415m) after-tax loss on the sale, which would involve the transfer of 750 ING Direct staff and 1.5 million customers.<ref name="Barclays to acquire ING Direct UK"/>

===ING Direct United States===
In 2000, ING launched a [[direct bank]] in the United States, with headquarters in [[Wilmington, Delaware]].<ref name=capitalone/>

In September 2007, ING Direct acquired 104,000 customers and FDIC insured assets from [[NetBank]] after it suffered from bank failure.<ref>{{cite web | url=https://www.fdic.gov/bank/individual/failed/netbank.html | title=FDIC: Bank Closing Information for NetBank | publisher=[[Federal Deposit Insurance Corporation]] | date=28 September 2007}}</ref> Two months later, ING Direct acquired Sharebuilder, a financial company.<ref>{{cite press release | url=https://www.businesswire.com/news/home/20071119005110/en/ING-DIRECT-Acquires-ShareBuilder | title=ING DIRECT Acquires ShareBuilder | publisher=[[Business Wire]] | date=19 November 2007}}</ref>

In February 2012, [[Capital One]] acquired ING Direct USA from ING for US$6.3 billion in cash and 54 million shares of Capital One.<ref name=capitalone>{{cite press release | url=https://www.prnewswire.com/news-releases/capital-one-completes-acquisition-of-ing-direct-139515678.html | title=Capital One Completes Acquisition of ING Direct | publisher=[[Business Wire]] | date=17 February 2012}}</ref> ING sold the Capital One shares later that year.<ref>{{cite news | url=https://www.marketwatch.com/story/ing-to-sell-capital-one-stake-for-3-billion-2012-09-05-104851420 | title=ING to sell Capital One stake for $3 billion | work=[[Marketwatch]] | date=5 September 2012}}</ref> Between November 2012 and February 2013 ING Direct's U.S. operations were rebranded ''Capital One 360''.<ref name="bloomberg rename">{{cite news | url=https://www.bloomberg.com/news/2012-11-07/capital-one-rebrands-ing-direct-as-orange-ball-gets-360-motif.html | title=Capital One Rebrands ING Direct as Orange Ball Gets '360' Motif | last=Campbell | first=Dakin | work=[[Bloomberg News]] | date=7 November 2012}}</ref>

==Sponsorships==
[[Image:2022-05-28 Luxembourg Night Marathon (108).jpg|thumb|right|ING [[Luxembourg Marathon|Night Marathon Luxembourg]]]]

ING sponsors sporting events and artistic exhibitions throughout the world.

===Sporting===
For several years, ING was the title sponsor of marathons including the [[New York City Marathon]], the [[Miami Marathon]], the [[Atlanta Marathon|Georgia Marathon]], the [[Luxembourg Marathon]], the Hartford Marathon, the [[Philadelphia Distance Run]] and San Francisco's [[Bay to Breakers]].

ING is a major global sponsor of association football, sponsoring the [[Royal Dutch Football Association]], [[Royal Belgian Football Association]] and the [[Asian Football Confederation|Asian Football Confederation (AFC)]].<ref>[http://www.ingafc.com ingafc.com] {{webarchive|url=https://archive.today/20070820043057/http://www.ingafc.com/ |date=20 August 2007 }}</ref> It also sponsors [[German Basketball Federation]].<ref>{{Cite web |last=ING.com |title=Art & sponsoring |url=https://www.ing.com/About-us/Art-sponsoring.htm |access-date=2023-08-07 |website=ING.com |language=en-US}}</ref>

ING was the title sponsor of the Renault Formula One team from the [[2007 Formula One season|2007 season]] to the [[2009 Formula One season|2009 season]]. It was the title sponsor of the [[Australian Grand Prix]] and [[Belgian Grand Prix]], the [[Hungarian Grand Prix]], and the [[Turkish Grand Prix]]. ING ended its sponsorship of Renault in part due to a reduction in advertising spending and in part due to [[Renault Formula One crash controversy|controversy surrounding the Renault Formula One team]].<ref>{{cite web|url=http://www.ing.com/group/showdoc.jsp?docid=412817_EN |title=ING press release, end of F1 sponsorship |publisher=Ing.com |access-date=14 October 2013}}</ref>

It also sponsored the ING Cup cricket competition in Australia between 2001 and 2006, a domestic limited overs competition.

===Arts===
[[File:Gay Pride Amsterdam 2008 (2726371494).jpg|thumb|ING boat at the 2008 [[Amsterdam Gay Pride|Amsterdam Pride]]]]
[[File:Brussels - 2018-04-27 - Église Saint Jacques-sur-Coudenberg.jpg|thumb|ING Art Center at [[Place Royale, Brussels#Pavilions|Hôtel de Coudenberg]], [[Brussels]]<ref>{{Cite web |title=ING Art Center |url=https://www.montdesarts.com/ing-art-center.html |access-date=2023-08-07 |website=MONT DES ARTS |language=en}}</ref>]]
ING's sponsorships in the arts include the Dutch National Museum in Amsterdam (the [[Rijksmuseum Amsterdam|Rijksmuseum]]), the New York [[Museum of Modern Art]], and the [[Royal Concertgebouw Orchestra]]. ING owns and houses proprietary art collections in Belgium, Mexico, the Netherlands, Poland, and the United Kingdom.<ref>{{cite web |url=http://www.ingartcollection.com/ |title=INGartcollection.com |publisher=INGartcollection.com |access-date=14 October 2013 |archive-date=1 February 2011 |archive-url=https://web.archive.org/web/20110201165001/http://ingartcollection.com/ |url-status=dead }}</ref>

ING has sponsored the [[Amsterdam Gay Pride]] since 2008.<ref>{{cite news|url=http://www.weareproud.nl/news/51/|title=ING en TNT sponsoren Gay Pride|publisher=Weareproud.nl|access-date=17 May 2013|archive-date=29 October 2012|archive-url=https://web.archive.org/web/20121029072041/http://www.weareproud.nl/news/51/|url-status=dead}}</ref>
<gallery>
File:WLANL - MicheleLovesArt - ING - Ans Markus - Pierrot.jpg|''Pierrot'' by [[Ans Markus]]<br />ING Art Collection Zandkasteel Amsterdam
File:WLANL - Marcel Oosterwijk - Cafe Americain by day.jpg|''Café Americain by day'' by Michael Ryan<br />Zandkasteel Amsterdam
File:WLANL - MicheleLovesArt - ING - Qiangli Liang - Little thought No. 2 (2005).jpg|''Little thought'' by  Qiangli Liang<br />Zandkasteel Amsterdam
File:WLANL - hajeka - Compartments II (1).jpg|''Compartments II'' by Graham Dea<br />Zandkasteel Amsterdam
</gallery>

===Education===
ING is a strategic industry partner with [[Duisenberg school of finance]].<ref>{{cite web|url=http://www.dsf.nl/home/about_us/industry_partners |title=DSF Industry Partners |url-status=dead |archive-url=https://web.archive.org/web/20140613024559/http://www.dsf.nl/home/about_us/industry_partners |archive-date=13 June 2014 }}</ref> ING provides a series of internships and assists with student loans to the accepted students. Also, in-house events are organised for Duisenberg school of finance students to give better insight on the financial industry.

[[ING Unsung Heroes]] is a grant program for kindergarten through 12th grade educators in the United States. The program is run by the U.S. Financial Services division of global financial services company ING Group (ING).

==Money laundering case==
In September 2018, ING agreed to pay €775&nbsp;million to end a [[money laundering]] probe.<ref>{{citation |url=https://www.bloomberg.com/news/articles/2018-09-04/ing-to-pay-784-million-in-fines-to-settle-dutch-criminal-case |title=ING to Pay $900 Million to End Dutch Money Laundering Probe|newspaper=Bloomberg.com |date=4 September 2018 }}</ref>

In September 2020, [[FinCEN Files]] disclosed that ING in Poland helped Russian and Ukrainian clients to launder huge amounts of money out of Russia.<ref>{{cite web|url= https://www.dw.com/en/how-ing-bank-in-poland-helped-russians-launder-money/a-55322399  |title= How ING bank in Poland helped Russians launder money |access-date= 19 October 2020 |website= DW}}</ref>

==See also==
{{Portal|Banks|Companies|Business}}
* [[Inter-Alpha Group of Banks]]
* [[List of banks in the euro area]]
* [[List of banks in the Netherlands]]

==Notes==
{{notelist}}

==References==
{{Reflist}}

==External links==
* {{Commons category-inline}}  
* {{official website}}
* {{Finance links
| symbol = ING
| sec_cik = ING
| google = NYSE:ING
| yahoo = ING
| bloomberg = ING:US
| reuters = ING
| nasdaq = ING
}}
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