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ING intends to act as buyer in major European bank mergers
ING CEO Steven van Rijswijk has announced that the Dutch bank intends to act as a buyer in large, cross-border European bank mergers rather than being a takeover target. Van Rijswijk noted that the banking sector is in a stronger position following the financial crisis and the era of negative interest rates, making acquisitions more viable.
The bank views increased scale as a strategic necessity to drive efficiency in digitalization, artificial intelligence, and customer experience. By developing products once and rolling them out across multiple markets, the bank aims to increase speed and efficiency.
Following recent medium-sized acquisitions in Poland and Spain, ING is also looking for opportunities in Germany. The bank specifically aims to expand its presence in the broad middle-market segment, asset management, and high-end private banking.
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- [● 3 SOURCES] The bank views scale as an advantage for investments in digitalization, artificial intelligence, and customer experience. radioosnabrueck.de · www.berliner-sonntagsblatt.de · www.oldenburger-onlinezeitung.de
- [● 3 SOURCES] ING CEO Steven van Rijswijk stated there are only a handful of options for large cross-border bank mergers in Europe. radioosnabrueck.de · www.berliner-sonntagsblatt.de · www.oldenburger-onlinezeitung.de
- [● 3 SOURCES] ING recently completed two medium-sized acquisitions in Poland and Spain. radioosnabrueck.de · www.berliner-sonntagsblatt.de · www.oldenburger-onlinezeitung.de
- [● 3 SOURCES] The bank is seeking acquisitions in Germany to expand its presence in the broad middle-market segment. radioosnabrueck.de · www.berliner-sonntagsblatt.de · www.oldenburger-onlinezeitung.de
- [● 3 SOURCES] Asset management is identified as an interesting segment for ING to expand its high-end private banking position. radioosnabrueck.de · www.berliner-sonntagsblatt.de · www.oldenburger-onlinezeitung.de
- [● 3 SOURCES] ING intends to act as a buyer rather than a takeover target in future large-scale European bank mergers. radioosnabrueck.de · www.berliner-sonntagsblatt.de · www.oldenburger-onlinezeitung.de