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The history of ING

ING was founded in 1991 by a merger between Nationale-

Nederlanden and NMB Postbank Group . During the past years ING has become a

multinational with 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 bankservices such as De i!kspostspaarbank and De "ostche#ue$ and Girodienst% as well

as to the Nederlandsc e Middenstands Bank . These are the legal predecessors of

the &founding fathers' of ING( Nationale-Nederlanden and NMB Postbank Group .

The founding of ING as one company was started in 199) when the legal

restrictions on mergers between insurers and banks were lifted in the Netherlands.

This prompted insurance company Nationale$Nederlanden and banking company

N*+ "ostbank Groep to enter into negotiations. The merger into !nternationaleNederlanden Groep took place in 1991. The market soon abbreviated the name to I$

N$G. The company followed suit by changing the statutory name to ING Groep N.,.

-ince 1991% ING has developed from a Dutch company with some international

business to a multinational with Dutch roots. This was achieved through a mi ture of

organic growth% such as the creation of ING Direct from scratch% as well as various

large ac#uisitions.

The first large ac#uisition took place in 199/% when ING took over Barings

Bank . This ac#uisition increased the brand recognition of ING around the world and

strengthened its wholesale banking presence in the emerging markets. 0nd then

there was Li"e o" Georgia . This insurance company was ac#uired by Nationale$

Nederlanden in 19 9% resulting in a significant increase in activities in the 2-. ,ia 3ife

of Georgia% the activities in 0sia e panded considerably. 4owever in 5))6% ING as a

group had become well$established in both regions and 3ife of Georgia was sold.

7ther ac#uisitions% such as the Belgian Bank Brussels La#bert % strengthened

the Group's presence in the +enelu . In addition% the activities in the 2nited -tates

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were doubled as a result of organic growth and the ac#uisition of $%uitable o" !o&a'

(elia)tar' *etna +inancial )ervices and merchant bank +ur#an )elz .

Profile & Fast factsING aims to deliver its financial products and services in the way its customers want

them delivered: with exemplary service, convenience and at competitive prices. This is

reflected in our

Our profile

ING is a global financial institution of Dutch origin% currently offering banking%

investments% life insurance and retirement services to meet the needs of a broad

customer base. Going forward% we will concentrate on our position as an international

retail% direct and commercial bank% while creating an optimal base for an independent

future for our insurance operations 8including investment management .

Our strategy

To serve the interests of our stakeholders% increase management focus and

create value for our shareholders% ING is moving towards separation of its banking

and insurance operations. :e believe the widespread demand for greater simplicity%

reliability and transparency makes this the best course of action. In the future% ING

+ank will build on its global presence and international network and capitalise on its

leadership position in gathering savings% multi$channel distribution% simple

propositions and marketing. ING Insurance has a strong position as a global provider

of life insurance and retirement services and is very well$positioned to capitalise on

socio$economic trends. :e will focus on earning our customers' trust through

transparent products% value for money and superior service. This reflects ouruniversal customer ideal( saving and investing for the future should be easier.

Our stakeholdersING conducts business on the basis of clearly defined business principles. In

all our activities% we carefully weigh the interests of our various stakeholders(

customers% employees% business relations and suppliers% society at large and

shareholders. ING strives to be a good corporate citi;en.

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Our corporate responsibility

ING wants to build its future on sustainable profit based on sound business ethics

and respect for its stakeholders and be a good corporate citi;en.

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#uickly and try to keep things clear% simple and straightforward. That's what

making finance easier is all about. That's what the ING brand is about.