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Last $16.78 USD
Change Today +0.23 / 1.39%
Volume 2.3M
As of 6:40 PM 06/3/15 All times are local (Market data is delayed by at least 15 minutes).

ing groep n.v.-sponsored adr (ING) Key Developments

ING And BNP Paribas Reportedly Among Bidders For HSBC Turkey

ING Groep N.V. (ENXTAM:INGA), BNP Paribas SA (ENXTPA:BNP) and Arab Banking Corporation (B.S.C.) (BAX:ABC) have submitted bids to buy HSBC Bank A.S. (HSBC Turkey), a source familiar with the process said. The source said the bids are non-binding, suggesting that the process could still take some time to complete, but that one-to-one talks have begun. Four other sources said ING was interested in buying HSBC's Turkish business, comprising corporate and investment banking operations as well as a loss-making retail arm. Two of the people said ABC was looking to buy the business, though they did not know if bids had been submitted. Qatar National Bank S.A.Q. (DSM:QNBK) was also interested but has not submitted a bid, the first source said. HSBC, ING, BNP and QNB declined comment and ABC could not be reached for immediate comment.

ING, Qatar National Bank Reportedly Potential Buyers for HSBC Turkey

The potential buyers for HSBC Bank A.S. are reported to be ING Groep N.V. (ENXTAM:INGA), Arab Banking Corporation (B.S.C.) (BAX:ABC) and Qatar National Bank Alahli S.A.E (CASE:QNBA). According to two sources, Arab Banking was looking to buy the entire business of HSBC Bank. HSBC declined comment.

ING Plans To Divest Its Stake In NN

ING Groep N.V. (ENXTAM:INGA) is planning to divest its remaining stake in NN Group N.V. (ENXTAM:NN), in line with its strategy to divest all of its insurance and investment management businesses.

ING Groep N.V. Appoints KPMG as Auditor to Audit the Annual Accounts for the Financial Years 2016 Through 2019

ING Groep N.V. at its AGM held on May 11, 2015, approved the appointment of KPMG as auditor to audit the annual accounts for the financial years 2016 through 2019.

ING Groep N.V. Declares Cash Dividend for the Year 2014, Payable on May 21, 2015; Appoints Mariana Gheorghe as Member of the Supervisory Board

ING Groep N.V. at its AGM held on May 11, 2015, declared a total dividend for the year 2014 of EUR 0.12 per (depositary receipt for an) ordinary share to be paid fully in cash. The company's shares will be quoted ex-dividend as of May 13, 2015 and the final dividend will be made payable on May 21, 2015. The company also approved the appointment of Mariana Gheorghe as member of the Supervisory Board.

 

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Industry Analysis

ING

Industry Average

Valuation ING Industry Range
Price/Earnings 21.5x
Price/Sales 4.2x
Price/Book 1.1x
Price/Cash Flow 12.1x
TEV/Sales NM Not Meaningful
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