logo
  

ING To Exit Retail Banking Market In France

ING said that it will exit the Retail Banking market in France. The decision is the outcome of the strategic review that was announced in June 2021. ING will book a restructuring provision in its results for the fourth quarter of 2021.

As previously announced in June, ING's Wholesale Banking activities in France will be continued.

ING said Tuesday that it has informed the outcome of the strategic review to its staff in France. A social plan concerning 460 employees affected has been agreed on with local unions. The social plan is subject to approval of the French Ministry of Labour.

ING has been active in the French retail banking market since 2000 as an online bank. ING France currently serves around 1 million customers, offering current accounts, mortgages, consumer lending and investment products. ING France has around 700 employees, of which two-thirds work in Retail Banking.

ING noted that it is currently exploring the feasibility of an agreement for its client portfolio with third parties.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Teva Pharmaceuticals USA, Inc. has recalled one lot of platelet-reducing drug Anagrelide in the form of capsules due to dissolution test failure detected during routine stability testing, the U.S. Food and Drug Administration, or FDA, said in a statement. The U.S. Food and Drug Administration said it has taken steps to make available millions of cans of additional infant and specialty formula to U.S. consumers in the coming months. Under the agency's recent increased flexibilities, British nutrition products maker Kendal Nutricare will send about 2 million cans of infant formula under the Kendamil brand initially to U.S. beginning in June. Video streaming giant Netflix Inc. announced the availability of a variety of mobile games. Players can download the games directly from the Netflix mobile app. The new games include Dragon Up (East Side Games), Moonlighter (11 Bit Studios), Townsmen - A Kingdom Rebuilt (HandyGames), and Exploding Kittens - The Game (Exploding Kittens Digital).
RELATED NEWS
Follow RTT