ING Groep NV, commonly known as ING, is a Dutch multinational banking and financial services corporation headquartered in Amsterdam, Netherlands. It was founded in 1991, but its history goes back to the 18th century. ING offers a range of products and services such as retail banking, direct banking, commercial banking, investment banking, asset management, and insurance services to over 40 million customers in more than 40 countries. It is one of the largest banks in Europe, with a strong presence in Asia and the Americas.
ING started as a result of the merger between Nationale-Nederlanden and NMB Postbank Group, two of the largest Dutch banks at the time. Over the years, the bank has expanded through mergers and acquisitions to become a global financial services provider. ING has had a strong focus on innovation and technology, having been one of the first banks to introduce online banking and mobile banking services. The bank has also been committed to sustainability, having set ambitious targets to reduce its carbon footprint and increase sustainable investments.
ING's retail banking business is focused on serving individuals and small to medium-sized enterprises, with a range of products such as savings accounts, checking accounts, credit cards, and mortgages. The bank's commercial banking business serves larger corporates, while its investment banking business provides advisory and financing services to clients in sectors such as energy, infrastructure, and healthcare. ING also has a strong presence in the insurance industry, offering life insurance, non-life insurance, and retirement solutions.
In recent years, ING has been focused on further digitizing its services to improve customer experience and drive efficiency. The bank has invested heavily in technology, such as artificial intelligence and blockchain, to develop innovative products and services. ING has also been expanding its presence in Asia and the Americas, with a particular focus on sustainable finance. The bank has set a target to steer its lending book towards more sustainable projects, aiming to have a portfolio of €600 billion in sustainable finance by 2025.