On Friday, June 24, ING said it will exit the local banking market before the end of 2022 but will continue to invest in wholesale banking in the global shared services operations. The bank said it will no longer pursue plans to expand retail services in the region due to market instability. ING has done similar exit moves in other countries since 2021.ING country head, Hans Sicat, said they will maintain a 30-year strong banking partnerships in the Philippines.
“We hope to take advantage of the growth prospects in various sectors like renewable energy, technology, media telecommunications, infrastructure, financial institutions, among others,” Sicat said. Presently, the bank has 380,000 customers on the retail banking side. It is maintaining 120 employees in both the retail and wholesale operations.
“They can continue to access their funds and accounts anytime and their money remains safe and secure. They will be notified soon and can visit www.ing.com.ph for more information,” said ING.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
ING to exit PHL retail banking business by this year - BusinessWorld OnlineING BANK N.V.-Manila will leave the Philippine retail banking market before 2022 ends, just about three years after its foray into the space, due to uncertain global conditions that affected its operations in the country. “ING’s retail business in the Philippines was intended as the first step and foundation for a broader Asia retail banking […]
Source: bworldph - 🏆 9. / 68 Read more »
ING leaving Philippine retail banking market before end-2022Dutch multinational bank ING said that the situation of the global economy since their entry to the Philippine retail banking market in 2018 led to its decision to close retail operations in the country before the end of 2022. READ: Goodbye ING. Hindi man lang kita nagamit. Kakasign ko pa lang. 😩
Source: rapplerdotcom - 🏆 4. / 86 Read more »
PH withdraws from EITI, cites ‘biased’ allegationsThe Philippines said Wednesday it withdrew its membership from the Extractive Industries Transparency Initiative on the international organization’s alleged questionable
Source: MlaStandard - 🏆 20. / 55 Read more »
PH will donate COVID vaccines to Myanmar in July, says DOHNational Vaccination Operations Center (NVOC) chairperson Dr. Myrna Cabotaje, during the Laging Handa briefing, said that arrangements are currently being undertaken to facilitate the contribution to the Myanmar Red Cross.
Source: MlaStandard - 🏆 20. / 55 Read more »
AAP President Elected To FIA Senate | CarGuide.PH | Philippine Car News, Car Reviews, Car Prices
Source: carguideph - 🏆 16. / 63 Read more »
PH can now detect cases of monkeypoxIn an advisory Wednesday, the DOH said its Research Institute for Tropical Medicine (RITM) “successfully optimized” the PCR assay for monkeypox cases “as part of the national preparedness and response to the threats of [the] disease.” Read more👇
Source: MlaStandard - 🏆 20. / 55 Read more »