Editing ING Group (section)

==History==
[[File:Roofoverval op bijkantoor Nederlandse Middenstands Bank Beethovenstraat, Amsterd, Bestanddeelnr 924-0492.jpg|left|thumb|NMB Bank in Amsterdam, 1970]]
ING Group traces its roots to two major insurance companies in the Netherlands and the banking services of the Dutch government. In 1991, the insurance branch of ''[[Nationale-Nederlanden]]'' and the banking branch of "NMB Postbank Groep" merged. NMB stands for "Nederlandsche Middenstands Bank".[[File:Detail Schrijvende Hand Marte Röling Postbank Tesselschadestraat Leeuwarden.JPG|left|thumb|[[Postbank N.V.|Postbank]] in [[Leeuwarden]], 2008]]

===Insurance===
In 1845, the fire insurance company ''Assurantie Maatschappij tegen Brandschade de Nederlanden van 1845'' ("Fire Insurance Company of the Netherlands of 1845") was founded. It grew to be the leading 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.<ref>{{cite web|url=http://www.ing.com/Our-Company/About-us/History-of-ING.htm|title=The history of ING|publisher=ING Group|date=29 March 2011|url-status=dead|archive-url=https://web.archive.org/web/20120101065813/http://www.ing.com/Our-Company/About-us/History-of-ING.htm|archive-date=1 January 2012}}</ref>

===Banking===
In 1881, the Dutch government created the ''Rijkspostspaarbank'', a [[postal savings system]] to encourage workers to start saving. Four decades later, they added ''Postcheque'' and ''[[Giro (banking)|Giro]]dienst'' services allowing working families to make payments via post offices. Separately in 1927, the Dutch government initiated a re-organization of Dutch banks which resulted in the creation of the ''Nederlandsche Middenstands Bank (NMB)''. NMB provided [[retail banking]] services in the Netherlands and abroad.

In 1986, post office banking services were privatized as [[Postbank N.V.]] and three years later it would merge with NMB bank to form ''NMB Postbank Groep''.

On 28 January 2025, ING has reached an agreement to sell its Russian operations to Global Development JSC, reducing its exposure to 1 billion euros, with the deal expected to close in 2025 and result in a 700-million-euro loss. The bank has been progressively scaling down its Russian business since 2022.<ref>{{cite news |title= Dutch bank ING to exit Russia after striking deal with investor|date=28 January 2025| work=Reuters|url= https://www.reuters.com/markets/deals/ing-groep-sell-russian-business-global-development-jsc-2025-01-28/|access-date=28 January 2025}}</ref>

===Merger of banking and insurance===
In 1991, the banking business of NMB Postbank Groep and the insurance business of Nationale-Nederlanden were merged to create '''ING Group'''.<ref>{{Cite news|date=2009-07-01|title=UPDATE 3-ING to overhaul Dutch insurance business|language=en|work=Reuters|url=https://www.reuters.com/article/ing-idUSL157374020090701|access-date=2020-09-08}}</ref>

===Further acquisitions===
[[File:ING Group structure.svg|300px|right]]
[[File:Belgique - Bruxelles - Siège de la Banque Lambert - 02.jpg|thumb|Former [[Banque Bruxelles Lambert]] headquarters in Brussels]]
Since the ING Group was founded, it has made many acquisitions:
{| class="wikitable sortable"
|+
|'''Organization'''
|'''Year'''
|'''Core business'''
|-
|Parcom
|1994
|Asset Management
|-
|Wellington
|1995
|Insurance
|-
|[[Barings Bank]]
|1995
|Investment banking
|-
|Equitable of Iowa
|1997
|Insurance
|-
|Furman Selz
|1997
|Banking
|-
|Bank Mendes Gans
|1997
|Banking
|-
|Guardian
|1998
|Insurance
|-
|Clarion
|1998
|Asset Management
|-
|[[Bank Brussels Lambert]]
|1998
|Banking
|-
|Canadian Group Underwriters
|1999
|Insurance
|-
|[[Aetna]]
|2000
|Financial services and International units<ref>{{Cite web |date=2000-12-14 |title=Aetna/ING Sale Completed |url=https://www.insurancejournal.com/news/international/2000/12/14/10707.htm |access-date=2021-10-21 |website=Insurance Journal |language=en-US}}</ref>
|-
|ReliaStar{{efn|ReliaStar Life Insurance Company was founded in 1885 in Minneapolis, Minnesota as '''Northwestern National Life Insurance Company'''. It purchased the '''North Atlantic Life Insurance Company''' of Jericho, New York in 1967 and the '''Northern Life Insurance Company''' of Seattle in 1977. These companies were unified under the ReliaStar brand in 1995.<ref>{{Cite web|url=https://www.annuityadvantage.com/insurance-companies/reliastar-life-insurance-company/|title = ReliaStar Life Insurance Company - Profile and Review}}</ref>}}
|2000
|Insurance
|-
|Seguros Comercial América
|2001
|Insurance
|-
|[[Bank Śląski]]
|2001
|Banking
|-
|DiBa
|2002
|Banking
|-
|Allianc of Canada
|2004
|Insurance
|-
|Rodamco Asia
|2004
|Asset Management
|-
|Johnson Insurance of Canada
|2021
|Insurance
|}

===International expansion===
ING Group expanded its international business through several acquisitions through the 1990s including the Belgian bank [[Banque Bruxelles Lambert]] (BBL) in 1998, US-based insurance company ''Equitable of Iowa'' and the commercial bank ''Furman Selz''. It also acquired Frankfurt-based ''[[BHF-Bank]]'' in 1999, although it disposed of this later. It increased its [[Latin American]] and Asia Pacific insurance businesses with the acquisition of [[ReliaStar]] and [[Aetna]]'s ''Financial Services'' unit. It also acquired the Polish ''[[Bank Śląski]]'' and Mexican insurance company ''Seguros Comercial América''.

The 1995 purchase of [[Barings Bank]] for one pound after its dramatic failure led to a boost in the company's [[investment banking]] business.

Expanding its retail banking business overseas, ING used the [[direct bank]]ing business model it had developed with NMB Postbank to launch direct banking in other countries. The first of these was set up in Canada in 1997, and was soon followed in several other countries including the US, UK, Germany, Spain, Italy, France and Australia.[[File:Nationale Nederlanden, Rotterdam.jpg|thumb|[[Nationale Nederlanden]] in Rotterdam, 2014]]

===Capital injection and divestiture===
In 2008, as part of the [[2008 financial crisis]], ING Group, together with many other major banks in the Netherlands, took a capital injection from the Dutch government. This support increased ING's [[capital ratio]] above 8%, however as a condition of Dutch state aid, the EU demanded changes to the company structure, including the sale of insurance businesses in Latin America, Asia, Canada, Australia and New Zealand and ING Direct units in the US, Canada and the UK.<ref>{{cite news |title=Barclays to acquire ING Direct UK |url=https://www.bbc.co.uk/news/business-19880659|publisher=BBC News|access-date=9 October 2012|date=9 October 2012}}</ref> This included the sale of the ING Direct US operations to [[Capital One]], ING Direct Canada to [[Scotiabank]] (doing business as [[Tangerine Bank|Tangerine]]) and the ING Direct UK operations to [[Barclays Bank]] in 2012.<ref>{{cite web|title=ING Direct Has Merged with Capital One-May Affect Your FDIC Insurance|url=http://www.nerdwallet.com/blog/2012/ing-direct-capital-one|publisher=NerdWallet.com|access-date=26 September 2012|url-status=dead|archive-url=https://web.archive.org/web/20121117013148/http://www.nerdwallet.com/blog/2012/ing-direct-capital-one/|archive-date=17 November 2012}}</ref><ref name="Barclays to acquire ING Direct UK">{{cite news|url=https://www.bbc.co.uk/news/business-19880659|title=Barclays to acquire ING Direct UK|publisher=BBC News|date=9 October 2012|access-date=9 October 2012}}</ref> The spun-off insurance businesses in North America were renamed [[Voya Financial]] in 2014.

In April 2016, ING sold the last shares in NN Group, making it exclusively a bank again.

Since the largest settlement ever in the Netherlands by Vimpelcom in 2016, its house banker ING has also come under fire from the Public Prosecutor's Office.<ref>{{Cite web |date=2018-06-25 |title=Onderzoek OM naar betrokkenheid ING bij witwassen duurt langer |url=https://www.rtlnieuws.nl/economie/artikel/4255106/onderzoek-om-naar-betrokkenheid-ing-bij-witwassen-duurt-langer |access-date=2023-05-18 |website=RTL Nieuws |language=nl}}</ref> As a result of the Vimpelcom case, among others, it was announced in 2018 that ING reached a €775 million settlement with the Public Prosecutor's Office. According to the prosecution, the bank was negligent in preventing money laundering. Between 2010 and 2016, clients misused accounts at ING to launder hundreds of millions of euros.<ref>{{Cite web |date=2018-09-04 |title=ING schikt voor honderden miljoenen wegens faciliteren witwassen |url=https://nos.nl/artikel/2248874-ing-schikt-voor-honderden-miljoenen-wegens-faciliteren-witwassen.html |access-date=2023-05-18 |website=nos.nl |language=nl}}</ref>

In February 2018, ING bought fintech company Payvision founded by Rudolf Booker for 350 million.<ref>{{Cite web |title=Verdachte oprichter Payvision: 'Ik rijd al jaren geen Ferrari meer' |url=https://fd.nl/financiele-markten/1456506/ik-rijd-al-jaren-geen-ferrari-meer |access-date=2023-05-18 |website=FD.nl |language=nl}}</ref>