ING on Benelux merger trail

Banking and insurance group ING has brought in advisors from Goldman Sachs and JPMorgan to work on a strategic reorientation, the Financieele Dagblad reports on Thursday. The paper says one option includes finding new partners in the Benelux.

Sources told the paper that ING is looking to expand its banking activities. Seven of the bank’s eight management board have a banking background, the paper points out.
The paper says the merger talks between ABN Amro and Barclays could give added momentum to ING’s plans. Now ABN Amro is no longer an option Fortis, Dexia and KBC would be possible merger candidates for ING the paper says.
ING declined to comment on the report.

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