ING take importance in bank or Beijing
Spent: 25 March 2005 13.57 AMSTERDAMS - ING bank
take an importance of 19.9 percent in the bank or Beijing. ING
pay for that converted 166 millions euro, thus Friday made the company
confessed. ING were already longer in conversation with the bank
or Beijing, but did to now being silent. ING have left its eye
falls on the bank or Beijing, because China takes an important place
in its strategy for future increase. The Dutch are already
present in five cities and can network now their considerably extend,
thus for the of ING. Thereby it concerns vastgoed, serving
companies and individuals and portfolio management. Also will
bring life insurances and accident insurance to the man to ING.
At the end of the year it becomes possibly also collective
insurance, by means of companies, sell. Ing-bestuursvoorzitter
Michel Tilmant, which the agreement put Friday in peking signed, that
ING with the bank or Beijing improve the relatively extensive class
welgestelden in peking can reach. He called also the increase
possibilities of consumentenbankieren in China and especially in
peking. The bank or Beijing can use by strategic cooperation of
expertise of ING in the area of consumentenbankieren. ING
provide further the knowledge concerning risk management and
considerable governing board. Also the Chinezen can increase
their assortment products. The Dutch bank - and
verzekeringsconcern get two seats in vijftienkoppige the Council of
governing board of the bank or Beijing. The bank or Beijing has
116 offices and 272 money automats. Also the bank is active with
e banking, which grows according to ING rapidly. He has 3600
employees and end previous year balanstotaal of had converted 18.9
billion euro. The bank or Beijing stood as the Beijing city
earlier confessed Cooperative bank, which has originated from fusion
of ninety cooperative banks. The bank or Beijing, now still
aimed at businesses, wants obtain future increase especially from the
consumentenbankieren. According to the expectations soon the
international takes Finance Corporation (IFC), the investment leg of
the World Bank, an importance of approximately 5 per cent in the bank
or Beijing. With that the limit for foreign shareholders has
been reached. (c) DUTCH PRESS AGENCY
Source "ING takes importance in bank or Beijing": nu.nl
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