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ING Group (AMS:INGB) ING DIRECT is the main theme for the bi-annual ING Investor Day, held today in Madrid. Dick Harryvan, CEO of ING DIRECT and member of the Executive Board of ING Group, will introduce the conference by elaborating on ING DIRECT's vision to become the world's most preferred consumer bank through focusing on simple and low-cost products covering the main retail client needs, offering a superior customer experience and establishing a well diversified business across geographies and products. Industry-leading efficiency makes ING DIRECT well-positioned to offer its customers value-for-money in an increasingly competitive environment.
Presentations by ING DIRECT board members will show the benefits of investing in a range of simple products, providing income diversification and scale to the business. ING DIRECT will cover more than 75% of the global retail banking market, focusing on simple products that represent 70% of the global profit pool. ING DIRECT has shown solid income growth over the past six quarters despite challenging market circumstances. The franchise has grown at more than twice the speed of the global retail banking industry in the last five years, with the ambition to double retail client balances by 2013.
The Investor Day will be hosted by John Hele, Chief Financial Officer of ING Group. He will reiterate ING's focus on collecting retail savings and reinvesting them to earn an attractive return. This business model entails a long-term policy of investing clients' savings with a disciplined approach. Focusing on performance measurement, Mr. Hele will introduce two new additional Key Performance Indicators (KPIs) related to ING's insurance business - operating income, based on margin analysis, and operating profit. Both new KPIs remove investment variances from ING's Insurance results, providing an understanding of the long-term trends of the Insurance business.
Note for editors: All presentations are available online. The plenary session by John Hele and Dick Harryvan from 08:00-09:30hrs CET and the wrap-up session by John Hele from 16:00-16:45hrs CET can be followed live via webcast on www.ing.com.
If you are not able to view the webcast, you can also listen-in via telephone on the following numbers:
* From the Netherlands: +31 20 794 8500 * United Kingdom: +44 20 7190 1537 * USA: +1 480 629 1989
Press enquiries Pilar Teixeira Raymond Vermeulen ING ING +31 20 541 5469 +31 20 541 5682 pilar.teixeira@ing.com raymond.vermeulen@ing.com
Disclaimer Certain of the statements contained herein are statements of future expectations and other forward-looking statements. These expectations are based on management's current views and assumptions and involve known and unknown risks and uncertainties. Actual results, performance or events may differ materially from those in such statements due to, among other things, (i) general economic conditions, in particular economic conditions in ING's core markets, (ii) performance of financial markets, including emerging markets, (iii) the frequency and severity of insured loss events, (iv) mortality and morbidity levels and trends, (v) persistency levels, (vi) interest rate levels, (vii) currency exchange rates (viii) general competitive factors, (ix) changes in laws and regulations, (x) changes in the policies of governments and/or regulatory authorities. ING assumes no obligation to update any forward-looking information contained in this document.
About ING Group ING is a global financial institution of Dutch origin offering banking, investments, life insurance and retirement services to over 85 million residential, corporate and institutional clients in more than 50 countries. With a diverse workforce of about 130,000 people, ING comprises a broad spectrum of prominent companies that increasingly serve their clients under the ING brand.
