ING BANK

ING Groep N.V. (ING) is a pioneer in global financial markets, with a vision of "Empowering the Future, Leading Innovation" in retail banking, SME finance, wholesale banking, wealth management and digital finance. Founded in 1991 through the merger of the Dutch National Insurance Company (Nationale-Nederlanden) and the NMB Postal Bank Group, its roots can be traced back to the Dutch fire insurance company (Assurantie Maatschappij tegen Brandschade de Nederlanden van 1845), founded in 1845. Headquartered in Amsterdam, the Netherlands (Bijlmerdreef 106, 1102 CT Amsterdam), ING is a global systemically important bank serving more than 60 million customers and becoming the backbone of global financial markets with its solid financial performance and innovative capabilities.

ING

is a commercial bank, privately owned, founded in 1991 and headquartered in Amsterdam, the Netherlands. The bank originated from the Dutch fire insurance company founded in 1845 and the Dutch national life insurance company Nationale Levensverzekerings Bank founded in 1863, and merged in 1991 to form the ING Group. ING is listed on the Amsterdam Stock Exchange (ticker symbol: INGA.AS), the Brussels Stock Exchange and the New York Stock Exchange (ADR: ING.N), and its major shareholders include institutional investors (e.g. BlackRock) and public shareholders. Banks are strictly regulated by the Dutch Central Bank (DNB) and the European Central Bank (ECB) and are required to comply with the Dutch Banking Act and international financial standards to ensure operational transparency and the safety of customer funds. Its deposits are protected by the Dutch Deposit Guarantee Scheme, with a maximum protection of €100,000 per depositor. The bank's SWIFT code is INGBNL2A and the Legal Entity Identifier (LEI) is 3TK20IVIUJ8J3ZU0QE75. ING has a global presence in more than 100 countries, including retail banking, wholesale banking and wealth management services, with approximately 60,000 employees in 2024.

Deposit & Loan Products

Deposit

ING provides a variety of deposit products to meet the savings needs of individual and corporate customers:

Demand Deposits: including checking accounts and savings accounts, such as "Orange Everyday Account" (in the Australian market), with a minimum opening amount of €0 and a base annualized rate of return (APY) of approximately 0.05%-0.5%, subject to confirmation of the latest interest rate through branch or online banking. Accounts offer flexible access and access for day-to-day money management, and some accounts, such as Orange Everyday, offer ATM fee waivers and discounted international transaction fees (online banking).

• Fixed deposits: support multiple currencies such as EUR, USD, CNY, etc., with deposit terms ranging from 1 month to 5 years, and the minimum deposit amount is 1000 euros. In 2025, the interest rate on fixed deposits can reach up to 3.25% (12 months, fixed interest rate), which needs to be queried through online banking.

• Featured products:

  • High Yield Savings Accounts: such as "Savings Maximiser Account" (Australian market), which offers an annualized interest rate of up to 3.25%, requires a balance of more than 1,000 euros, and has no monthly fee, suitable for customers who are looking for high returns (savings accounts).

  • Large Certificates of Deposit (CD): Support flexible tenors, suitable for large amount of money customers, the interest rate needs to be queried through the branch or app, and the early withdrawal penalty is 90 to 180 days of interest.
    Customers can check the preferential interest rate through the "ING Mobile Banking" app or online banking, deposit products can be opened and calculated instantly, and some accounts can be free of transaction fees.

Loan

ING provides a comprehensive range of loan products to meet diversified financing needs:

• Mortgages: Fixed- and variable-rate mortgages with up to 90% of the value of the property and up to 35 years of repayment. In 2025, the fixed interest rate will be as low as 3.84% (2-year, Dutch market), the floating interest rate will be based on the European Central Bank's benchmark rate (about 4.75%), and cash rebates and green housing discounts (energy-efficient properties) will be provided, and the application will require a credit score of 700 or more and an annual income of more than 20,000 euros.

• Car loans: New and used car financing is supported, with loan amounts ranging from 1,000 euros to 35,000 euros, with a term of 1 to 7 years, an annualized interest rate (APR) of about 6.9%-12%, and a credit score of 660 or more.

• Personal Line of Credit: Loan amount from €1,000 to €50,000 with a term of 1 to 7 years, an annualized interest rate (APR) of about 3.9%-29.9% (based on credit score), and an application threshold of more than €10,000 per year and a good credit history.

• Flexible repayment options: Mortgages and personal loans offer no penalty for prepayment, monthly or bi-weekly payment plans, and a revolving line of credit for flexible debt management.
  All loans are subject to bank approval, and customers are required to provide credit history, proof of income and asset information, subject to the terms of the loan agreement. The bank's wholesale banking services (e.g. corporate lending, trade finance) provide additional support to SMEs and large enterprises.

Digital Service

ExperienceING's mobile banking app "ING Mobile Banking" is the core of its digital services, which is available for download on iOS 14.0 and above and Android 9.0 and above, with an App Store rating of about 4.7 and a Google Play rating of about 4.5, with users praising its quick launch (in less than 2 seconds), intuitive interface, and multi-language support (English, Dutch, German, etc.). The app has attracted more than 10 million users, and its core features include:

• Face recognition: support for biometric authentication (such as Face ID and Touch ID), combined with 256-bit end-to-end encryption to ensure transaction security.

• Real-time transfers: Support instant transfers in euros via SEPA and SWIFT, with a daily limit of up to 100,000 euros, international money transfers to more than 100 countries, and low-rate transfers in partnership with Western Union.

• Bill management: Support online bill payment, automatic debit, and e-statement, allow up to five bills to be paid at a time, and sort transactions in real time.

• Investment Tool Integration: Support stocks, funds, bonds, and ETFs trading through the ING investment platform, providing real-time market data and investment advisory services.
  The online banking platform "ING Internet Banking" supports multiple browsers and provides similar functions, allowing customers to open an account in 5 minutes through the app or the official website (online banking). The app supports accessibility features such as dynamic font adjustment and VoiceOver compatibility for visually impaired and hearing-impaired customers. In 2023, about 70% of customers complete transactions through digital platforms, significantly improving the user experience.

Technological innovation

ING excels in the fintech sector, driving technological advancements through its Digital Innovation Center:

• AI customer service: Introducing an AI-driven customer service system that analyzes transaction behavior and detects fraud risks in real-time, Automate 80% of customer inquiries by 2023, with plans to launch a virtual assistant in 2025 to support 24/7 inquiries and personalized financial advice.

• Robo-advisor: Provide AI-based investment management services through the ING investment platform, recommend diversified investment portfolios according to customer risk appetite, with a minimum investment of 1,000 euros and no subscription fees.

• Open Banking API Support: Compliant with the EU Open Banking Standard (PSD2), integration with third-party service providers, account management and financial services interoperability, and support for 35 deposit, credit card, and loan servicing APIs by 2024.

• Other innovations: support for a blockchain-based trade finance platform to streamline the letter of credit process; Partnering with AWS to optimize the cloud-based trading system; Launched e-financial fraud prevention services, such as overseas IP interception and delayed transfers. In 2024, the bank will invest €1 billion to upgrade its cloud technology and data analytics platform to improve operational efficiency.

Featured Services & DifferentiationING

is known for its localized services and digital innovations:

SME support: Customized loan and cash management services through ING Business Banking Services, participation in the European SME Financing Guarantee Program, loan approval in as fast as 10 seconds, up to €10 million, and 12% increase in SME loan balance in 2023 (wholesale banking).

• Green Finance: Launched green bonds and preferential rate loans to support renewable energy projects, in response to the United Nations Principles for Responsible Banking, and won the "European Green Finance Pioneer Award" in 2023.

• Digital banking innovation: ING's digital banking services have been critically acclaimed worldwide, attracting more than 10 million users, winning the "Best Digital Bank" award in 2023.

• International services: Providing financial services in more than 100 countries to support cross-border trade and investment, with international business accounting for 10% of total revenue in 2023, especially in the European and North American markets.

• Community contribution: Support education and charity projects through the ING Foundation, donate 50 million euros in 2023 for community development, hold financial literacy lectures, and improve the financial literacy skills of young people.

Market Position & Accolades

ING is one of the world's systemically important banks, with total assets of approximately US$967.8 billion (approximately €860 billion) in 2024, ranking among the top in the global banking industry. With a presence in more than 100 countries and more than 60 million customers, the bank has a strong presence in retail banking, SME finance and wealth management. In 2023, banks reported an 8% increase in deposit balances, a 6% increase in loan balances, and a non-performing loan ratio remaining below 0.3%, indicating that they are operating soundly. ING's innovations in digital services and green finance make it competitive in the global market. Its international business accounts for 10% of total revenue, with a particularly strong presence in the Netherlands, Belgium, Germany and Australia. Key accolades include:

• Global Finance's 2023 "Best Digital Bank" award.

• European Green Finance Pioneer Award 2022.

• 2021 "Best Retail Bank" award.
  ING's community focus and ability to innovate make it the backbone of the global financial markets.

SummaryWith

more than 130 years of history, global localization services and innovative financial products, ING Bank has become a pioneer in the global financial market. It offers a wide range of deposit and loan products to meet customer needs through local branches and digital platforms. The digital service is centered on the "ING Mobile Banking" app, which provides efficient real-time transfer and investment management functions. Technological innovations include AI customer service, robo-advisors, open banking APIs, and blockchain technology, demonstrating its forward-looking digital transformation. With its SME support, green finance, digital banking innovation and multiple industry accolades, ING continues to demonstrate strong competitiveness and influence in the global financial market.

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