ING to invest in its retail banking branch network in the Netherlands
ING announced today that it will make a substantial investment in its
retail banking branch network in the Netherlands to further raise
ING's potential for future growth. The investment will enhance the
quality of services for the combined customer base of ING Bank and
Postbank by creating a nationwide banking network of over 800
branches.
This investment is in line with ING's retail banking strategy in the
Netherlands to combine Postbank and ING Bank under one single brand
to meet the growing demand of its customers for direct banking
services in combination with access to personal financial advice.
According to the plans, the Postbank services currently offered in
the 250 main post offices will be transferred to 283 modern, open,
full service ING branches. These branches will improve ING's
capabilities to provide both ING Bank and Postbank customers with
access to personal financial advice and the full range of its
products and services. In addition, ING will extend access of its 550
Postbank outlets located in shops to ING Bank's customer base. ING's
total branch network will consist of more than 800 branches.
To further increase customer proximity and quality of services, ING
will have more branches close to shopping centres and extend the
opening hours to after office hours in the coming years.
In conjunction, both ING and TNT have agreed to gradually unwind
their joint venture Postkantoren B.V. over the next five years. ING
will take a provision of EUR 87 million for the restructuring costs
in the first quarter of 2008 and expects to generate additional pre
tax earnings of EUR 68 million per year as of 2012. In addition, ING
plans to make an investment of EUR 175 million to expand and enhance
its full service branches over a period of five years.
The new retail banking network of ING in the Netherlands:
Full service branches: 283
Outlets in shops: 550
Cash service points and ATMs: 3075
The ING branch network will be accessible for all Postbank and ING
Bank customers as of 2009.
Press enquiries
Nanne Bos
ING Group
+31 20 541 6516
nanne.bos@ing.com
Click here to download high resolution images of the new ING branch
Profile ING
ING is a global financial institution of Dutch origin offering
banking, insurance and asset management to over 75 million private,
corporate and institutional clients in more than 50 countries. With a
diverse workforce of about 120,000 people, ING comprises a broad
spectrum of prominent companies that increasingly serve their clients
under the ING brand.