ING Belgium is part of ING Group since 1998. This was the last stage of the large changes the bank went through. Before 2003, ING Belgium was still called BBL – Banque Bruxelles Lambert – which was the result of a former merger. Banque de Bruxelles and Banque Lambert were indeed merged on 30 June 1975 to form Banque Bruxelles Lambert (BBL). The holding companies of these two institutions had been merged in 1972.
At the beginning of 1998, BBL became a wholly-owned subsidiary of ING Group.
At the Extraordinary general meeting of 17 April 2003, BBL's shareholders decided to change its registered name to ING Belgium SA/NV.
ING Belgium is a subsidiary of ING Group. ING is an international financial services company and one of the world's largest savings banks with a staff of 130,000 offering products and services to its 85 million customers in over 50 countries in the areas of banking, investments, life insurance and retirement services through the distribution channels chosen by customers. ING Group is the 19th largest financial group in the world and the 11th biggest European group in terms of stock market capitalization (source: Bloomberg on 6/10/2008).
The business model of ING centres on collecting retail savings and pensions and then investing them across a conservative selection of well diversified assets. The group's financial strength, its wide range of products and services and the diversity of its sources of profit and risks form a basis for continuity and growth. Risk management is embedded in every level of their business.
Strategic Focus:
ING conducts business on the basis of clearly defined business principles and always takes account of the interests of its customers, staff, shareholders, business partners and the community as a whole. ING strives to be a good 'corporate citizen'.
Five elements are essential to ING Belgium's strategy, in line with those of ING Group:
ING Belgium offers a wide range of services to companies, from simple loans and leading-edge financial transactions, to advice during mergers and acquisitions. Their ambition is to become the main banker for small and medium-sized companies, the preferred banker for institutional customers and the trusted adviser of major international companies. ING Belgium wishes to support companies at all the key points in their development.
ING approaches companies as much as possible in terms of their specific needs. A small company's financial needs are completely different from those of a large-scale multinational. That's why companies are sorted into different categories.
Companies listed on the Stock Exchange and those making sales of over 250 million euros are served by the Corporate Banking "International" division. In this respect, ING Belgium is not only responsible for relationships with Belgium's major companies, but also with all those in the whole South West Europe region. Corporate Finance, Equity Markets and Equity Derivatives products are set to be further developed and the effectiveness of loans and cash management will be increased.
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