ING going forward
ING was founded in 1991 by a merger between
Nationale-Nederlanden and NMB Postbank Group. During the past 15 years ING has
become a multinational with very diverse international activities.
The roots of ING can be traced to the
insurers De Nationale Levensverzekering Bank and De Nederlanden van 1845 and to
the public bank services such as De Rijkspostspaarbank and De Postcheque- and
Girodienst, as well as to the Nederlandsche Middenstands Bank. These are the
legal predecessons of the ‘founding fathers’ of ING; Nationale-Nederlanden and
NMB Postbank Group.
The oldest legal predecessor is the Kooger
Doodenbos from Koog, Noord Holland, founded in 1743. During that period many
regional funds were created to insure people from certain communities,
professions, widows and orphans against bad fortune. Many of these small
organisations were taken over by larger nationwide operating companies such as
De Nationale Levensverzekering Bank. The fire insurers were the first to
undertake international activities, starting in the Dutch Indies, but later
also in the rest of Asia and in
The pillarisation of Dutch society that
separated Protestants, Catholics and Socialist/Liberals is also visible in the
ING history. Banks with a Catholic or Protestant signature merged into the NMB
and became part of ING. Professional groups also united in the banking
business. Organisations such as the Credietbank for Koffiehuis en Restauranthouders
(pubs and restaturants), the Bank voor den Diamantenhandel (diamond trade) and
the Vakbondsspaarbank (Union Savings Bank) were involved in several mergers and
acquisitions and finally became part of ING Bank and therefore part of the ING
family.
The founding of ING as one company was
started in 1990 when the legal restrictions on mergers between insurers and
banks were lifted in the
The top of the company pedigree above shows
the ‘founding fathers’ of ING; at the bottom you will find the companies that
ING has acquired since its establishment.
In addition, companies were bought that have
in the meantime been sold again. The first large acquisition took place in
1995, when ING took over Barings Bank. This acquisition increased the brand
recognition of ING around the world and strengthened its wholesale banking
presence in the emerging markets. Some of Barings’ activities were integrated
in ING’s business units, while other parts were closed down or sold. In 1999,
ING acquired the German BHF-Bank, but this Frankfurt-based merchant bank was
divested in 2004. CenE bankiers also played an important role in ING’s history.
It had been part of NMB since 1966, but in 2004 ING decided to sell CenE. And
then there was Life of Georgia. This insurance company was acquired by
Nationale-Nederlanden in 1979, resulting in a considerable increase in
activities in the
Other acquisitions, such as the Belgian Bank
Brussels Lambert, strengthened the Group’s presence in the
ING is also active in other parts of the
world. In 2001, ING acquired a majority interest in the Polish Bank Śląski and
purchased the remaining stake in the Mexican insurer Seguros Comercial América.
Furthermore ING participates in a number of
financial institutions, such as Pacific Antai Life Insurance and the China
Merchants Fund Management. It has also established a partnership with the Bank
of Beijing. This has strengthened ING’s presence in the emerging markets of
During its short existence, ING has grown
into a versatile, international company. ING will continue along this path by
providing excellent services through its existing businesses and by focussing
on four growth areas: banking, investments, life insurance and retirement
services.
Source: ing.com;
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