Banks treat their customers with a mortgage "too often as a cash cow", Bart Combee, director of Dutch consumers assocation Consumentenbond said on Tuesday. A study by the association showed that banks often charge higher than necessary costs for adjustments to mortgages, ANP reports.
ING employees in the Netherlands will soon have the right to a month's paid paternity leave at the birth of a new child, according to the new collective bargaining agreement the bank made with unions FNV Finance, De Unie and CNV Vakmensen. This appointment also applies to non-biological mothers, NU.nl reports.
Dutch bank ING expects that electric driving in Europe will only increase as the main obstacles for switching to electric cars continue to decrease. By 2035 only electric cars will be sold in Europe, according to the bank, RTL Nieuws reports.
A study by the bank showed three main reasons that consumers aren't immediately switching from petrol and diesel cars to electric cars. 40 percent found it too expensive, 28 percent say they can't drive far enough on a fully charged battery, and 20 percent said there are no charging poles in their area.
The official outcome of the election in the United Kingdom on Thursday is still unknown. But it is certain that Prime Minister Theresa May's Conservative Party will lose its absolute majority. While anti-Brexit Jeremy Corbyn's Labour party gained ground. What consequences this will hold for the Brexit is unclear. We'll have to wait and see, is what Dutch Prime Minister Mark Rutte has to say on the matter.
Greenpeace, Milieudefensie, Oxfam Novib and BankTrack filed a joint complaint against ING over the bank's continued investment in fossil fuels. According to the organization, ING still invests billions of euros in fossil energy and is thereby violating OECD guidelines, BNR reports.
Home buyers with a mortgage that has a longer fixed interest rate period are often misled by the so-called moving scheme, according to the own home association VEH. New buyers who sign a mortgage with National Mortgage Guarantee and an interest rate period of 20 or 30 years, get duped when the move to a home that is not eligible for the National Mortgage Guarantee, the VEH said on Tuesday, NU.nl reports.
The association examined the moving conditions of 35 mortgage providers and concluded that clients of ING, bijBouwe, Allianz and Hypotrust Goede Start all fall into this trap.
ING Netherlands announced its appointment of Vincent van den Boogert as its new CEO. He takes over for Nick Jue, who was named CEO of ING’s Germany operations, pending regulatory approval there.
Boogert, 46, is currently on the bank’s board, overseeing customer interfacing at the Dutch bank. He is a long-time veteran at the bank, having started there in 1995. He has worked for the bank in a variety of management roles in the Netherlands and Turkey.
The Public Prosecutor is busy with a criminal investigation against ING in which the bank is suspected of involvement in international corruption, money laundering, violating rules for customer due diligence and failing to report unusual transactions, a spokesperson for the Prosecutor's Office confirmed to the Financieele Dagblad on Tuesday.
ING Bank will be nominating former Prime Minister Jan Peter Balkenende to sit on the bank's supervisory board. The nomination will be made at the Annual General Meeting (AGM) on May 8th. Along with Balkenende, the bank will also nominate Margarete Haase and Hans Wijers for positions on the board, ING announced on Thursday.
ABN Amro and ING are among the best performing banks in Europe, standing at number 2 and 3 on the "profit as a percentage of equity" ranking. Only the Belgian bank KBC performed better and got the first position, Financieele Dagblad reports.
On Thursday morning a group of about 20 Greenpeace activists dug room for and planted 15 meters of super heavy pipe sections at the ING headquarters in Amsterdam Zuidoost. They did so to protest against the Dutch bank's part in financing the highly controversial Standing Rock pipeline in Dakota, United States, Het Parool reports.
If American president Donald Trump goes through with his plan to protect the United States' industry with tariffs on imported goods and services, the Dutch economy could suffer a loss of billions of euros, according to calculations by ING Bank, Financieele Dagblad reports.
The bank based its calculations on a U.S. import duty of 10 percent. If that is the case, the Netherlands will export 3.7 billion euros less to the United States. That will result in the Dutch gross domestic product being 0.3 percent lower, according to the bank.
While the worst of the credit crisis is now definitely a thing of the past, the future of the euro remains a major concern, the directors of ING Bank said while presenting the bank's annual figures on Thursday, ANP reports.
Anti-Islam nationalist party PVV will not be in the next Dutch government after the elections in March of this year, according to ING economists Martin van Vliet and Dimitry Flemming. In a report titled Much ado about nothing... probably, they list several reasons why they believe Geert Wilders and his PVV will not cause political earthquakes after the elections, Business Insider Nederland reports.
The Dutch economy will show solid growth again this year, though it will be weaker than in 2016, ING's Economic Bureau predicts in estimates published on Friday. The bank expects 1.6 percent growth this year, compared to 2.2 percent last year, ANP reports.
Economists at ING expect fewer bankruptcies next year. According to a report published by the ING Economic Bureau on Tuesday, the number of businesses filing for bankruptcy is expected to decrease by 10 percent in 2017 compared to 2016. The Dutch retail sector also seems to be reviving.
An armored car was robbed on Koestraat in Purmerend on Wednesday. The perpetrators fled on a scooter and are still at large, RTV Noord-Holland reports.
The armored car was parked at an ING branch in Koestraat when the perpetrators hit. It is unclear whether they managed to steal anything.
The police are looking for two men, whose descriptions were spread on Burgernet. The robbers are a white man and a dark skinned man. One wore a white jersey with a gray good, a vest, a backpack and dark sneakers. The second man was wearing a blue flight jacket and dark jeans.
Dutch banks still generally fall seriously short when it comes to climate policy and that sets the organizations behind, according to a new report published by the Fair Bank Guide on Wednesday, ANP reports.
Only SNS, ASN and Triodos scored well on their climate policy. Aegon, ING, ABN Amro, Rabobank, Delta Lloyd and Van Lanschot all scored an insufficient. According to the researchers, most Dutch banks don't require oil companies to prevent drilling in the fragile Arctic. They also don't publish measurable CO2 reduction targets for the companies in which the invest.
Dutch bank ING saw its net profits increase to 1.35 billion euros in the third quarter, an increase of 27 percent compared to the same quarter last year. The bank's total income rose by 9 percent to 4.4 billion euros, ING announced on Thursday, ANP reports.
ING granted more loans to consumers and businesses and took in more savings. ING's loans increased by 3.6 billion euros and on balance attracted 2 billion euros in savings. Despite the low interest rates, the bank got "healthy" margins on its loans.
ING is named in a massive fraud case surrounding Malaysian state fund 1MDB. According to the Volkskrant, the U.S. subpoena in the case states that the Dutch bank played a roll in transfers of large amounts between companies.
Nearly half of Dutch poultry farmers have been living below the poverty for an average of 15 years, according to an ING report on the state of Dutch agriculture. Half of chicken farmers and 45 percent of pig farmers lived on less than 22,300 a year between 2001 and 2015
Digitization always comes at the expense of jobs, ING bank CEO Ralph Hamers said to RTL Z. He emphasized that the 7 thousand jobs disappearing from the Benelux are not because of cutbacks.
ING is cutting a total of 7 thousand jobs across the Benelux region, the bank announced on Monday. The Netherlands is losing 2,300 jobs and Belgium is losing 3,100
ING CEO Ralph Hamers is preparing for a major reorganization that will cost thousands of jobs as well as the autonomy of the countries where the bank is located, Financieele Dagblad reports. According to the newspaper, this plan is expected to save billions of euros in cost cuts.