Ing Group, N.v. Perp Hybrid Cap (NYSE:ISF)

ING continuously evaluates its portfolio of businesses, in line with its stated objective of sharpening its focus. Within this context, ING today announced that it is currently reviewing strategic options for ING Direct Canada and ING Direct UK.

These reviews may or may not lead to transactions, and no decisions have yet been made in this regard. ING is committed to conduct these processes with the utmost diligence in the interests of its stakeholders, including customers, employees and shareholders.

ING Direct is the leading direct bank in Canada, launched in April 1997. Since that date, it has served its customers with excellent service, offering savings, chequing, mutual fund and mortgage products through its call centres, the internet and its ING Direct cafés. At 31 March 2012, ING Direct Canada’s over 1100 employees served 1.8 million clients.

ING Direct UK is a leading UK direct banking platform which offers a focused range of savings and mortgages products to over 1.5 million customers in the UK through secure online and mobile internet channels, supported by two UK-based call centres. At 31 March 2012 ING Direct UK had approximately 750 employees.

Any further announcement on the reviews will be made if and when appropriate. The ING Direct businesses in Australia, Austria, France, Germany, Italy and Spain are not affected by today’s announcement.