ING Bank NV

ING Bank is a member of ING Group, a financial company specializing in insurance and banking. ING Bank is a universal bank offering a wide range of products and services to individuals, families, small businesses, large corporations, financial institutions, governments, public and private institutions and supranational bodies. ING Bank is a market leader in "Benelux" countries (the Netherlands, Belgium and Luxembourg) where it currently has strong market positions in retail and commercial banking. ING Bank NV operates as a branch of ING Bank N.V. Magyarországi Fióktelepe (Hungary).

ING Bank NV is the 1st largest bank in the Netherlands in terms of total assets. In 2015 its total assets were 838,53 bln EUR. In 2015 the bank's net income was 4 731,00 mln EUR.

ING Bank NV is rated by Fitch, Moody's, Standard & Poor's. Long-term credit rating assigned to the bank by Fitch is A+ (high credit quality). Long-term credit rating assigned to the bank by Moody's is A1 (upper medium grade). Long-term credit rating assigned to the bank by Standard & Poor's is A (strong capacity to meet its financial commitments). ING Bank NV participates in deposit guarantee scheme of Hungary. This scheme covers accounts up to 100 000 EUR per bank per depositor.

ING Bank NV is located in Amsterdam.

Contacts 
    Address  Foppingadreef 7, 1000 BV, Amsterdam, Netherlands
    P.O. Box  1800
    Phone  20 563 9111
    Website  https://www.ing.nl/
Head of Group   ING Group (Netherlands)
Headquarters  ING Bank N.V. Magyarországi Fióktelepe (Hungary)
Bank Category  Branches of foreign banks
Business Description 
    Services  retail banking
private banking
commercial banking
insurance
    Products  current accounts
debit cards
credit cards
savings accounts
time deposit accounts
investment funds
retirement plans
consumer loans
car loans
revolving credit
overdrafts
mortgage loans
Financial Positions
    Total Assets (2015)  838.53 bln EUR ↑ (+1.20%)
    Total Equity (2015)  41 495.00 mln EUR ↑ (+7.26%)
Profit and Loss
    Net Income (2015)  4 731.00 mln EUR ↑ (+67.59%)
Market Position and Market Share (among banks in the Netherlands)
    Total Assets (2015)  1st
Credit Ratings (as of Apr 2016)
    Fitch  A+ (high credit quality)
    Moody's  A1 (upper medium grade)
    S&P's  A (strong capacity to meet its financial commitments)
Deposit Guarantee  Yes (up to 100 000 EUR per depositor)
Bank Identifiers
    BIC (SWIFT)  INGBNL2A
    MFI ID  NL163
European Presence  16 banks in 16 countries

Products

Current Accounts

Current accounts are non-interest bearing deposit accounts that are used to perform day-to-day banking transactions. Annual costs of having a current account (also known as account management fees) can depend on monthly income input to the account or amount of money deposited into the account. The following current account products are offered by ING Bank NV:

ProductAccount CurrencyAnnual Costs (EUR)Debit CardCredit CardProduct Link
 Betaalrekening [NL]EUR36.00View Product
 Betaalrekening [NL]EUR53.40View Product
 Betaalrekening [NL]EUR36.00View Product
 Betaalrekening [NL]EUR53.40View Product

[NL] This product is offered to the Netherlands' residents only. When clicking on the product link you will be redirected to the product page in Dutch.

See Also: Current Accounts in the Netherlands

Consumer Loans

Consumer loans are secured or unsecured loans given to customers for personal, family, or household purposes or for purchase of goods and services. Consumer loans offered by ING Bank NV are shown in the table below:

ProductMin Effective Rate (p.a.)Max Effective Rate (p.a.)Loan CurrencyLoan Term (months)Product Link
 ING - Persoonlijke lening [NL]7.10 %7.10 %EUR6View Product
 ING - Persoonlijke lening [NL]7.10 %7.10 %EUR12View Product
 ING - Persoonlijke lening [NL]7.10 %7.10 %EUR24View Product
 ING - Persoonlijke lening [NL]7.10 %7.10 %EUR36View Product
 ING - Persoonlijke lening [NL]7.10 %7.10 %EUR48View Product
 ING - Persoonlijke lening [NL]7.10 %7.10 %EUR60View Product

[NL] This product is offered to the Netherlands' residents only. When clicking on the product link you will be redirected to the product page in Dutch.

See Also: Consumer Loans in the Netherlands

Mortgage Loans

Mortgage loans are used to make real estate purchases without paying the entire value of the purchase up front. Mortgage loans offered by ING Bank NV are shown in the table below:

ProductBorrowing Rate (p.a.)Loan CurrencyLending Amount (%)Loan Term (years)Product Link
 ING Hypotheek [NL]3.70 %EUR605View Product
 ING Hypotheek [NL]3.70 %EUR805View Product
 ING Hypotheek [NL]4.50 %EUR6010View Product
 ING Hypotheek [NL]4.80 %EUR8010View Product
 ING Hypotheek [NL]5.35 %EUR6015View Product
 ING Hypotheek [NL]5.65 %EUR8015View Product
 ING Hypotheek [NL]5.60 %EUR6020View Product
 ING Hypotheek [NL]5.90 %EUR8020View Product

[NL] This product is offered to the Netherlands' residents only. When clicking on the product link you will be redirected to the product page in Dutch.

See Also: Mortgage Loans in the Netherlands

Financial Positions

In 2015 total assets of ING Bank NV were 838.53 bln EUR. Growth compared to the previous period (2014) was 1.20%. The evolution of the total assets of ING Bank NV is shown at Chart 1 below.

Total Assets of ING Bank NV.
Chart 1. Total Assets of ING Bank NV.

Profit and Loss

Recent changes in gross profit of ING Bank NV and its main components are shown in Table 1.

2014 2015 % change
Interest Income 48 370.0 46 397.0 -4.08% ↓
Interest Charges -35 764.0 -33 653.0 -5.90% ↓
Net Interest Income 12 606.0 12 744.0 +1.09% ↑
Commission Income 3 314.0 3 420.0 +3.20% ↑
Commission Charges -1 023.0 -1 100.0 +7.53% ↑
Net Commission Income 2 291.0 2 320.0 +1.27% ↑
Net Income from Trading Operations 561.0 1 159.0 +106.60% ↑
Table 1. Recent changes in gross profit of ING Bank NV (mln EUR).

In 2015 net income of ING Bank NV was 4 731.00 mln EUR. Growth compared to the previous period (2014) was 67.59%. The evolution of the net income of ING Bank NV is shown at Chart 2 below.

Net Income of ING Bank NV.
Chart 2. Net Income of ING Bank NV.

Credit Ratings

Credit Rating is an opinion of a credit rating agency about credit worthiness of a company or a government.
Of the 'Big Three' rating agencies, ING Bank NV is rated by Fitch and Standard & Poor's.

Credit ratings assigned to ING Bank NV as of April 2016 are shown in details in the following sections.

Fitch

Long-term issuer default rating is Fitch's view of a credit institution's relative vulnerability to default on its financial obligations, for ING Bank NV it is set to A+ (high credit quality), outlook is stable (not likely to change). The rating is not on watch. Short-term issuer default rating for ING Bank NV is set to F1 (highest short-term credit quality).

Long-Term Issuer Default Rating  A+
    Outlook  stable
    On Watch  No
Short-Term Issuer Default Rating  F1
Viability Rating  a+
Support Rating  5
Support Rating Floor  NF

Viability rating for ING Bank NV is set to a+ (high fundamental credit quality); support rating is 5 (there is a possibility of external support, but it cannot be relied upon); support rating floor is NF (no floor; no reasonable presumption of potential support being forthcoming).

Moody's

Long-term rating for ING Bank NV it is set to A1 (upper medium grade). Long-term bank deposit rating is A1 (upper medium grade). Bank financial strength rating is baa1. Short-term rating is not assigned.

Long-Term Rating  A1
Long-Term Bank Deposit Rating  A1
Bank Financial Strength Rating  baa1
Short-Term Rating  -
Outlook  stable

Outlook for the ratings of ING Bank NV is set to stable (not likely to change).

Standard & Poor's

Long-term foreign currency rating for ING Bank NV is set to A (strong capacity to meet its financial commitments). Long-term local currency rating is set to A (strong capacity to meet its financial commitments).

Long-Term Foreign Currency Rating  A
    Outlook  stable (not likely to change)
    Credit Watch  -
Long-Term Local Currency Rating  A
    Outlook  stable (not likely to change)
    Credit Watch  -
Short-Term Foreign Currency Rating  A-1
Short-Term Local Currency Rating  A-1

Short-term foreign currency rating for ING Bank NV is set to A-1 (strong capacity to meet its financial commitments). Short-term local currency rating is set to A-1 (strong capacity to meet its financial commitments).

Deposit Guarantee

Deposit Guarantee Schemes compensate certain deposits held by depositors of a bank that becomes unable to meet its obligations.

All branches of EEA-banks operating in the Netherlands participate in deposit guarantee schemes of their home countries. This means that ING Bank NV participates in the deposit guarantee scheme of Hungary.

In the case of ING Bank NV failure, eligible depositors having covered accounts in this bank will be paid out the following compensation:

Eligible Depositors  natural persons, legal entities
Covered Currencies  EEA currencies
Maximum Protected Amount  100 000 EUR
Paid In Currency  HUF

Further Information: Deposit Guarantee Scheme in Hungary

ECB Minimum Reserves Requirements (MRR)

Minimum reserves is the minimum amount of reserves a credit institution is required to hold with a central bank.

Subject to MRR by ECB  Yes
Exempt from MRR by ECB  No

Bank Identifiers

Any bank can be identified for different purposes and hence can have several different identifiers.

BIC

BIC (Business Identifier Code, also known as SWIFT code or SWIFT BIC) is a the mostly used international identifier of financial institutions. SWIFT is the registration authority for BICs. BICs are used in financial transactions, client and counterparty data bases, compliance documents and many others.

A BIC consists of eight or eleven characters, comprising a financial institution code (four characters), a country code (two characters), a location code (two characters) and, optionally, a branch code (three characters).

BIC of ING Bank NV and its components are shown in the table below.

BIC  INGBNL2A
Bank BIC Code  INGB
Country Code  NL (Netherlands)
Location Code  2A
Branch Code  -

MFI ID

MFI ID (Monetary Financial Institution Identifier) is a code, unique to each institution in the MFI list provided by ECB (European Central Bank). MFI ID is hence applicable to MFIs resident in the European Union.

The code is alphanumerical, with the first two digits representing the two-digit ISO code for the country of residence of the MFI and the remaining number of digits (no limit has been specified) is any combination of alphanumerical characters.

MFI ID of ING Bank NV is shown in the table below.

MFI ID  NL163

European Presence

This bank operates in the following European countries and selected dependent territories of the European countries:

Belgium

Bulgaria

Czech Republic

France

Hungary

Ireland

Italy

Monaco

Netherlands

  •  (this bank) ING Bank NV (Amsterdam)

Poland

Portugal

Romania

Slovakia

Spain

Turkey

United Kingdom

Related Information on the Netherlands

  Economy and Banking Sector of the Netherlands

  List of Banks in the Netherlands

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