 Get Quote: ING
Financials: Latest Results
Rank: 18 (Previous rank: 17)
CEO: Jan H.M. Hommen Employees: 104,419 Address: Amstelveenseweg 500 Amsterdam, 1081 Country: Netherlands Website: www.ing.com The Dutch financial services giant stepped into 2011 with hopes to complete two initial public offerings – one for its combined European and Asian businesses, the other for its U.S. insurance and investment management business. But because of market turbulence amid Europe’s ongoing debt crisis, ING decided earlier this year to change part of its plan. It is now considering a sale of its Asian business, among other options. As for its European arm, it is still pursuing an IPO as one option. The firm has said it also plans to move forward with its U.S. public offering. The Dutch government bailed out the firm during the financial crisis in 2008. As part of the deal, ING is working to split up its banking and insurance assets. The two are already operationally separated, but ING will be fully restructured by the end of 2013. The firm is also working to repay the government. Earlier this year, executives said they would not pay a dividend to shareholders until the state aid is paid off. -- N.H.T. Subscribe to Fortune Magazine |
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