Businessweek

ING Groep N.V., a financial institution, provides banking, investments, life insurance, and retirement services. Segments The company’s segments include Retail Netherlands, Retail Belgium, Retail Germany, Retail Rest of World, Commercial Banking, Insurance Benelux, Insurance Central and Rest of Europe, Insurance United States, Insurance U.S. Closed Block VA, and ING Investment Management. Retail Netherlands This segment in the Netherlands services approximately 8.2 million retail and private banking clients and approximately 585,000 small and medium enterprises (SME) and mid corporate clients. Retail Banking reaches its individual customers through Internet banking, mobile banking, telephone, call centers, mailings, and branches. The company provides current account services and payments systems to provide other financial services, such as savings accounts, mortgage loans, consumer loans, credit card services, investment, and insurance products. Mortgages are offered through a tied agents sale force, and direct and intermediary channels. ING Bank Netherlands operates through a branch network of approximately 275 branches and approximately 200 ING Service Points. It offers a range of commercial banking activities, and also life and non-life insurance products. Retail Belgium ING Belgium NV/SA (ING Belgium) services approximately 2.1 million retail and private banking clients, and approximately 170,000 SME, mid corporate, and institutional clients. ING Belgium provides banking, insurance (life and non-life), and asset management products and services to meet the needs of individuals, families, companies, and institutions through a network of local head offices, 773 branches and direct banking channels (automated branches, home banking services, and call centers). ING Belgium also operates a second network, Record Bank, which provides a range of banking products through independent banking agents and credit products through a multitude of channels (agents, brokers, and vendors) to approximately 700,000 clients. ING Luxembourg, also part of ING Belgium, is positioned as a universal bank and services approximately 100,000 clients. Retail Germany This segment consists of ING-DiBa Germany, ING-DiBa Austria, and Interhyp. In Germany, one of the company’s primary markets in Europe, ING-DiBa is a bank in terms of various customers and is a banking brand. ING-DiBa offers high-service product range, with 10 different products, 24 hours a day — the ingredients to meet all the primary needs of its customers. ING-DiBa Austria reached the milestone of 500,000 customers in 2012, while Interhyp — Germany’s mortgage broker — is awarded ‘Best Mortgage Financer’, with best service, advice, and price. Interhyp expanded its local branches and tied-agents network by approximately 50 in 2012. Retail Rest of World This segment comprises the ING Direct business units in Australia, France, Italy, and Spain. It also includes the ING banks in Turkey and India, and the retail activities of ING Bank Slaski (Poland) and ING Bank Romania, as well as the minority stakes in TMB Bank (Thailand) and Bank of Beijing (China). As of December 31, 2012, this segment served a total number of 11.3 million customers, excluding Bank of Beijing and TMB Bank. Commercial Banking This segment has a franchise in the Benelux and has a position in Central and Eastern Europe. Internationally, it engages in selected areas within Industry Lending and Financial Markets (FM). It serves its clients, ranging from mid-sized enterprises to multinationals, also including governments and supranational organizations, through a global network of operations in approximately 40 countries. The company offers a range of basic commercial banking services, such as lending, payments and cash management, leasing, factoring, treasury, and foreign exchange products. It also provides various tailored solutions, including specialized and trade finance, structured FM products, corporate finance, mergers and acquisitions, and debt and equity capital markets advice. Industry Lending: The company’s Industry Lending activity includes Structured Fi