Coronavirus: How ING supports you

20 May 2020 ... min read Listen

The impact of the coronavirus pandemic has been immense. It is first and foremost a human tragedy, affecting hundreds of thousands of people. But it has also impacted nations, economies, supply chains and workforces.

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For people, the virus brings several worries. Apart from a fear of infection to ourselves or loved ones, we’re worried about our finances and we’re concerned about social disconnection.

At ING, we feel the responsibility to support customers in navigating through the financial aspects of this crisis, empowering them to manage their banking so they remain in charge of their finances. Across our business, we have taken action.

“It is extremely difficult and stressful”

All businesses have been hit hard by the coronavirus pandemic. But small to medium sized businesses (SMEs) have perhaps been hardest hit. In this story, global head of SME and Mid Corporate, Luc Truyens explains what ING is doing to assist in this area.

Running companies remotely

Poland have launched a social media campaign entitled ‘Run the company remotely’. In social media posts they are advising companies how to run the company remotely using the App My ING among other helpful information. Accompanying the campaign is what they're calling an 'anti-crisis shield chat' with ING accounting specialists answering entrepreneurs' questions.

ING helps raise hospital financing with first Covid-19 bond

ING has been involved in Europe’s first Covid-19-related bond to raise financing for French public hospitals.

ING was joint bookrunner in the €1 billion deal and is an example of the bank’s efforts to help clients overcome the impact of Covid-19.

Proceeds of the bond will finance and refinance loans to French public hospitals for research, training, and health support for vulnerable populations.

Full story https://www.ing.com/Newsroom/News/ING-helps-raise-hospital-financing-with-first-Covid-19-bond.htm

Big worries, swift action

In these unprecedented times we all face uncertainties. The last thing you want to worry about is your daily banking. Therefore, we’ve undertaken the task of ensuring call centres, online banking and ATMs are all available.

Given the growing economic uncertainty, an even bigger concern for many is the ability to pay back your mortgage or other loan, or paying off credit cards. ING has introduced a raft of measures from loan relief (holidays), providing expert advice, implementing national schemes and supporting companies to alleviate those concerns.

We’ve also been advising people to use online banking channels and contactless payments to prevent spread of the virus.

And we have set-up dedicated pages on how to bank during the crisis as well as client communications in several countries on the impact of the crisis on your investments.

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ING around the world

Below are just some of the measures introduced worldwide to help customers:

ING in Belgium implemented measures agreed with the Belgian government and other banks for payment deferrals of mortgage loans and business loans can be requested.

ING in the Netherlands, together with other banks, now offers extensions of repayment of loans for small and medium sized companies and looks into individual solutions for private customers who face difficulties making mortgage payments. It also temporarily increased the limit for contactless payments from €25 to €50 per transaction.

ING in Italy offers mortgage payment suspensions for people having a negative economic impact caused by Covid-19.

ING in Romania offers individual clients who are impacted the possibility to postpone repayments of personal loans or mortgages by up to two months. Impacted SMEs get three-month renewals of working capital facilities without the need to come to the bank.

ING in Australia offers, in line with other banks in the country, three to six-month payment pauses on any commercial loan, home loan, personal loan, or credit card.

ING in Turkey extended credit repayment time from 90 days to 180 days for current overdue loan customers and has been directing customers to its digital channel. It has made all ATMs free-of-charge for customers and has also doubled its amount for contactless payments.

ING in Poland launched a campaign to support people and companies in using online banking and is encouraging younger people to help elderly people in using online banking.

ING in Spain has increased the amount for contactless payments to €50 and has made ATM customer withdrawals free.

Responding to our communities

We are also looking for ways to support communities during this crisis. There are already many examples of generosity shown by our ING businesses, employees and customers. These range from donations and fundraising, to community outreach and support. ING has also established a global fund with the aim of increasing local initiatives and offering more support in the future.

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Safeguarding employees

We’re doing what we can to safeguard the wellbeing of employees. Not just because we care and feel responsible, but because only a fit and healthy workforce allows us to support customers at a time when they need us more than ever.

Around 80 percent of employees are now working safely from home – and we’re working on increasing that number. To keep them engaged and ensure they are fully equipped to do their jobs from home, we provide extensive guidelines for remote working, support best-practice sharing and help employees to create an optimal work environment.

Of course, a number of colleagues are not able to work from home, given that thy are involved in business-critical operations at some of our offices or recovery locations. Here we strictly enforce social distancing guidelines, limit the number of branches that stay open and restrict opening hours.

We are grateful to all colleagues, many of whom are working under challenging circumstances.

This booklet (PDF, 0,7 MB) provides a detailed overview of our response to the coronavirus

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