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Company Description

Contact Info

Amsterdamse Poort

Bijlmerplein 888

Amsterdam, 1102 MG

Netherlands

Phone: 31 20 563 9111

Fax:

ING Groep N.V., a financial institution, provides various banking products and services to individuals, small and medium-sized enterprises (SMEs), and mid-corporates. The company is a subsidiary of Stichting ING Aandelen. The company serves approximately 34 million customers in various markets. In most of its markets, the company offers a range of retail banking products and services, covering payments, savings, investments and secured and unsecured lending. Segments The company’s segments include Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking. Retail Netherlands This segment engages in retail and private banking activities in the Netherlands, including the SME and mid-corporate segments. The main products offered are current and savings accounts, business lending, mortgages and other consumer lending in the Netherlands. Retail Belgium This segment engages in retail and private banking activities in Belgium, including the SME and mid-corporate segments. The main products offered are similar to those in the Netherlands. Retail Germany This segment engages in retail and private banking activities in Germany. The main products offered are current and savings accounts, mortgages and other customer lending. Retail Other This segment engages in retail banking activities in the rest of the world, including the SME and mid-corporate segments in specific countries. The main products offered are similar to those in the Netherlands. Wholesale Banking This segment engages in wholesale banking activities (a range of products is offered from cash management to corporate finance), real estate and lease. Strategy The company has identified four strategic priorities, such as earning the primary relationship; developing data analytics; increasing the pace of innovation to serve changing customer needs; and thinking beyond traditional banking to develop new services and business models. Four strategic enablers support the implementation of the company’s strategy, such as simplifying and streamlining its organization, further striving for operational excellence, improving the performance culture within the company, and diversifying its lending capabilities. Regulation The primary impact on the company is through the establishment of a regulatory regime for the off-exchange derivatives market, pursuant to Title VII of the U.S. Dodd-Frank Wall Street Reform and Consumer Protection Act. In addition, the company’s entities are required to comply with the requirements under the Anti-Money Laundering and Counter Terrorism Financing Act that is subject to regulatory compliance oversight by the Australian Transaction Reports and Analysis Centre. As an Australian incorporated subsidiary, ING Bank (Australia) Limited is required to comply with corporate requirements and in the event of listing of issued debt securities to comply with Australian Securities Exchange listing and disclosure requirements. ING Bank (Australia) Limited must demonstrate compliance with financial services laws as a condition to maintaining its AFSL and ACL. Competition The company’s main competitors in the banking sector in the Netherlands are ABN AMRO Bank N.V. and Rabobank. History ING Groep N.V. was founded in 1991.

 

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Valuation INGN Industry Range
Price/Earnings 10.1x
Price/Sales 2.4x
Price/Book 0.8x
Price/Cash Flow 10.8x
TEV/Sales NM Not Meaningful
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