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BRIEF-ING To Leave Czech Retail Banking Market By End-2021

Published 19/02/2021, 12:05 am
© Reuters.
INGA
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Feb 18 (Reuters) - ING Groep NV INGA.AS :

* REG-ING TO LEAVE CZECH RETAIL BANKING MARKET BY END-2021

* CUSTOMERS WILL RECEIVE A WELCOME OFFER FROM RAIFFEISENBANK CZECH REPUBLIC

* AMBITION IS FOR ING TO STOP ALL ITS RETAIL ACTIVITIES IN THIS MARKET BY END OF 2021.

* ING WILL REMAIN ACTIVE IN CZECH REPUBLIC AS A PROVIDER OF WHOLESALE BANKING PRODUCTS AND SERVICES.

* ING HAS BEEN PRESENT IN CZECH RETAIL BANKING MARKET FOR MORE THAN 20 YEARS, OFFERING SAVINGS ACCOUNTS AND MUTUAL FUNDS

* CURRENTLY ING SERVES AROUND 375,000 LOCAL RETAIL CUSTOMERS. GLOBALLY, ING SUPPORTS MORE THAN 39 MILLION RETAIL AND WHOLESALE CUSTOMERS IN 40 MARKETS.

* CURRENTLY RETAIL OPERATIONS IN CZECH REPUBLIC EMPLOY APPROXIMATELY 225 FTE

* AGREEMENT WITH RAIFFEISENBANK HAS BEEN SECURED TO ENSURE ING'S CUSTOMERS IN CZECH REPUBLIC CAN CONTINUE TO MEET THEIR BANKING NEEDS

* ING WILL BUILD ON ITS TRACK RECORD IN SUPPORTING ITS EMPLOYEES WITH FINDING EMPLOYMENT OUTSIDE BANK

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