ING Groep
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ING Group headquarters in Amsterdam in the Netherlands
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| Public | |
| Traded as |
Euronext: INGA : ING |
| Industry | Financial services |
| Founded | 1991 through merger (est. 1743 as Kooger Doodenbos) |
| Headquarters | Amsterdam, Netherlands |
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Area served
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Global |
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Key people
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| Products | |
| Revenue | €17.49 billion (2016) |
| €5.90 billion (2016) | |
| Profit | €4.29 billion (2016) |
| Total assets | $845 billion (2016) |
| Total equity | €50 billion (2016) |
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Number of employees
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52,000 (2016) |
| Website | ing |
The ING Group (Dutch: ING Groep) is a Dutch multinational banking and financial services corporation headquartered in Amsterdam. Its primary businesses are retail banking, direct banking, commercial banking, investment banking, asset management, and insurance services. ING is an abbreviation for Internationale Nederlanden Groep (English: International Netherlands Group).
The orange lion on ING's logo alludes to the Group's Dutch origins under the House of Orange-Nassau. ING is the Dutch member of the Inter-Alpha Group of Banks, a cooperative consortium of 11 prominent European banks. ING Bank was included in a list of global systemically important banks in 2012.
According to the Fortune Global 500 in 2012, ING was the world's largest banking/financial services and insurance conglomerate by revenue with gross receipts exceeding $150 billion per annum; overall, it was the 18th largest corporation by revenue. As of 2013, ING served over 48 million individual and institutional clients in more than 40 countries, with a worldwide workforce exceeding 75,000. The company is a component of the Euro Stoxx 50 .
ING Group traces its roots to two major insurance companies in the Netherlands and the banking services of the Dutch government.
In 1845 the fire insurance company the Assurantie Maatschappij tegen Brandschade de Nederlanden van 1845 ("Fire Insurance Company of the Netherlands of 1845") was founded. It grew to be the first Dutch insurance company with branches outside the Netherlands (139 the world over by 1900). It later changed its name to "De Nederlanden van 1845". Two decades later, in 1863, the life insurance company Nationale Levensverzekerings Bank ("National Life Insurance Bank") was founded in Rotterdam. These two insurance companies made multiple acquisitions, and in 1963 merged to form the Nationale-Nederlanden insurance company. Nationale-Nederlanden expanded significantly during the 1970s and 1980s.
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