03 Dec 2013
ING completes sale of stake in China Merchants Fund
ING announced today that it has completed the sale of its 33.3% stake in China Merchants Fund, an investment management joint venture, to its joint venture partners China Merchants Bank Co., Ltd., and China Merchants Securities Co., Ltd. The transaction, which was previously announced on 8 October 2012, does not have a material impact on ING Group results.
02 Dec 2013
ING completes sale of investment management business in South Korea to Macquarie
ING announced today that it has completed the sale of its investment management business in South Korea to Macquarie Group, an Australia-based, global provider of financial services.
29 Nov 2013
ING completes sale of Mexican mortgage business
ING announced today it has completed the sale of ING Hipotecaria, its mortgage business in Mexico, to Banco Santander (México), S.A.
18 Nov 2013
ING agrees to sell 11.3% direct stake in SulAmérica to Swiss Re
ING announced today that it has reached an agreement with Swiss Re Group on the sale of an 11.3% direct stake in Sul América S.A., further reducing its stake in the Brazilian insurer.
15 Nov 2013
ING successfully completes exchange offers
On 6 November 2013 ING Bank announced the launch of seven separate exchange offers, offering bondholders an opportunity to exchange seven series of subordinated debt into CRD-IV eligible Tier 2 securities. The offers, with a total nominal value of approximately EUR 4.7 billion at current exchange rates, enable ING Bank to proactively optimise the Bank’s capital structure in anticipation of the upcoming CRD-IV implementation.
06 Nov 2013
ING records 3Q13 underlying net profit of EUR 891 million
“ING continued to make strong progress on its restructuring programme in the third quarter, advancing further into the end phase of our transformation,” said Ralph Hamers, CEO of ING Group. “At the same time, our businesses recorded another good set of quarterly results while delivering on our strategic priorities.”
06 Nov 2013
ING announces liability management actions
ING Bank announced today a number of liability management actions. ING will offer bondholders an opportunity to exchange seven series of subordinated debt into CRD-IV eligible Tier 2 securities. This enables ING to proactively optimise the Bank’s capital structure in anticipation of the upcoming CRD-IV implementation. In addition ING Bank will call USD 2 billion of hybrid Tier 1 securities which will lower its funding costs. The European Commission has authorized the transactions.
06 Nov 2013
ING to include ING Life Japan in ING Insurance IPO
ING announced today that it will expand the scope of the base case Initial Public Offering (IPO) of ING Insurance to include ING Life Japan. In that context, ING and the Dutch State have reached an agreement with the European Commission (EC) on a revised timeline for the divestment process. Preparations for an IPO of ING Insurance in 2014 are on track.
01 Nov 2013
ING and Dutch State reach agreement on unwinding of Illiquid Assets Back-up Facility
ING announced today that it has reached an agreement with the Dutch State on the unwinding of the Illiquid Assets Back-Up Facility (IABF).
30 Oct 2013
ING to pay EUR 1.125 billion to Dutch State on 6 November 2013
ING announced today that it has notified the Dutch State of its intention to pay EUR 1.125 billion on 6 November 2013. This payment includes a EUR 750 million repayment of core Tier 1 securities and EUR 375 million in premiums and interest and is part of the repayment schedule as agreed with the European Commission (EC) and the Dutch State.
24 Oct 2013
ING announces exercise of underwriters’ option to acquire additional shares in ING U.S.
ING announced today that the underwriters in the offering of shares of ING U.S. Inc., its U.S.-based retirement, investment and insurance subsidiary, have exercised their option to purchase an additional 4.95 million shares of ING U.S. from ING Group at the offering price of USD 29.50 per share. The sale of these additional shares further reduces ING Group’s ownership stake in ING U.S. from approximately 59% to approximately 57%.
23 Oct 2013
ING prices offering of ING U.S. shares at USD 29.50 per share
ING announced today the pricing of 33 million shares of common stock of ING U.S., Inc., its U.S.-based retirement, investment and insurance subsidiary. Based on the final price of USD 29.50 per share, the offering size is approximately USD 974 million (approximately EUR 706 million at current exchange rates). The offering represents a stake of approximately 13%, reducing ING Group’s ownership to approximately 59% following the closing of the transaction. ING Group intends to use the net proceeds of the transaction for the reduction of Group core debt.
21 Oct 2013
ING announces size of planned sale of shares in ING U.S.
ING announced today that it plans to sell approximately 30 million shares of common stock of ING U.S., Inc. in an SEC-registered public offering, representing a stake of 11.5% in its U.S.-based retirement, investment and insurance subsidiary. ING Group intends to use the proceeds of the planned transaction for the reduction of Group core debt.
09 Oct 2013
ING appoints Malcolm Brown as Head of Investor Relations
ING announced today the appointment of Malcolm Brown as Head of ING Group Investor Relations. Malcolm Brown will succeed Dorothy Hillenius, who has taken up the position of Head of Corporate Development for ING Bank as of 1 August 2013.
02 Oct 2013
ING announces rebranding of ING Insurance operations to ‘NN’
As previously announced, ING’s preparations for the base case plan to divest the European insurance and investment management businesses through an Initial Public Offering (IPO) are on track. A transaction is planned for 2014, depending on market conditions. In this context, ING Insurance announced today its plans to rebrand in the future as ‘NN’, a new identity that balances the heritage and Dutch roots with the requirements of an international and future-proof brand.
01 Oct 2013
Update on leadership changes at ING
ING announced today that, as proposed in February 2013 and approved by the Annual General Meeting in May 2013, Ralph Hamers has succeeded Jan Hommen as CEO of ING Group.
23 Sep 2013
Royal honour for ING CEO Jan Hommen
Jan Hommen, CEO of ING Group, has been appointed by His Majesty King Willem-Alexander as Commander in the Order of Orange-Nassau. Jan Hommen received the royal honour for his exceptional contribution to the continuity of ING as an international company and for his efforts to adapt the financial sector after the financial crisis of 2008.
19 Sep 2013
ING update on preparations for ING Insurance IPO
Today, Jan Hommen, CEO of ING Group, and members of the executive team of ING Insurance will provide an update on the preparations for an IPO of ING Insurance at a meeting with investors and analysts in London.
18 Sep 2013
Dream versus reality: The "dream home" hope lives on amid personal financial hurt, survey shows
The aspiration to live in the home of our dreams is so resilient that even a deterioration in our economic situation does little to lessen it, a major new ING survey of 12,000 people in Europe shows.
13 Sep 2013
ING U.S. files registration statement for sale of second tranche of shares by ING Group
ING announced today that ING U.S., Inc., its U.S.-based retirement, investment and insurance businesses subsidiary, has filed a registration statement with the U.S. Securities and Exchange Commission (SEC) in connection with a possible sale of a second tranche of ING U.S.’s common stock by ING Group.