ING

Carrots for Sinterklaas' horse
Nov 15 '19 16:00

The bag of gifts Sinterklaas brings to your door will cost the holy man 2.6 percent more this year than it did last year, according to calculations by ING Economic Bureau. The price of most traditional Sinterklaas gifts increased over the past year, at least partly due to the increase in the low VAT rate, NU.nl reports.

Sweets and chocolate letters are 3.3 percent and 5 percent more expensive respectively. Toys saw a price increase of 1.5 percent. Books and fragrances now cost 3.3 percent more. The only cheaper gift is jewelry, 1.2 percent cheaper than last year.

Woman dealing with bills
Oct 30 '19 08:21

Banks in the Netherlands have joined the fight against problematic debts. From now on banks will refer customers who are regularly in the red to website Geldfit, where they can get help with managing their money problems. The same applies to customers who use up their savings quickly or miss payments on a bank loan, NOS reports.

Money laundering
Oct 25 '19 12:45

The police suspect a Dutch-Bosnian drug cartel of large-scale money laundering, part of which happened through ING and ABN Amro bank accounts, newspaper AD reports based on police documents in its possession.

ABN Amro logo on a building in Rotterdam
Oct 25 '19 09:04

ABN Amro is lowering the interest on its freely withdrawable savings accounts from 0.02 percent to 0.01 percent as of November 1st, the bank said on its website on Friday. Savings interest at ING is still 0.02 percent and at Rabobank 0.03 percent, NU.nl reports

Supermarket
Oct 10 '19 07:38

People in the Netherlands use 26 billion pieces of plastic food packaging per year - 1,500 pieces of plastic per Dutch person per year, or four per day, according to a study by ING Economic Bureau. And plastic consumption continues to grow along with the population, increasing by around 100 million pieces of packaging every year, NOS reports.

Amsterdam_Zuidoost_ING-Bank_02_PM07
Oct 4 '19 15:20

Multiple board members and former board members of ING may still be prosecuted for their role in a massive money laundering case at the bank. The court in The Hague will soon rule on an Article 12 procedure that can force their prosecution, the Financieele Dagblad reported on Friday.

Money laundering
Sep 13 '19 08:10

Five Dutch banks want to team up and establish an organization to tackle money laundering together. The idea is that by viewing the banks' total 10 billion transactions per year together, it will be easier for the organization - which they plan to call Transactie Monitoring Nederland (TMNL) - to identify suspicious activities, the Dutch association of banks NVB said to RTL Nieuws.

Rabobank mobile banking
Sep 10 '19 10:39

Instant bank transfers is now available to customers of seven Dutch banks. With the introduction of Instant Payments, customers can transfer money at night, over the weekend and on public holidays and it will immediately show in the recipient's account, instead of the recipient having to wait for the next business day, the Dutch Payments Association said to AD.

ING Bank
Aug 2 '19 13:20

ING customers are furious by the prospect of their bank maybe charging negative interest on their savings accounts. CEO Ralph Hamers mentioned this as an option to cushion the blow should the European Central Bank decide to cut interest rates again, RTL Z reports.

Plastic pollution
Jul 16 '19 09:16

Since 2010 Dutch banks and insurers provided around 7.9 billion euros in financing to large shale gas and plastic companies, according to research by the Fair Banking and Insurance Guide. ING was the largest Dutch financier for these companies, investing 3.5 billion euros into them, NU.nl reports.

Apple Pay
Jun 11 '19 18:35

Mobile payment method Apple Pay finally launched in the Netherlands on Tuesday, over 4.5 years after the service was introduced. The service allows users to pay for goods and services using their Apple devices instead of debit cards at  contactless terminals where Maestro is accepted.

Porsche Mission E - Porsche Taycan
Jun 5 '19 18:00

Electric cars will do a better job of retaining value in second-hand vehicle sales when compared to motor vehicles that make use of more common combustion engines, according to a report published by economists at Dutch bank ING. "The demand for used electric cars will exceed supply, resulting in rising used car prices," the bank said, estimating that 25 percent of used cars buyers in 2025 will consider an all-electric car.

Amsterdam_Zuidoost_ING-Bank_02_PM07
Apr 11 '19 17:00

The average Dutch household now spends a larger share of their income on basic needs like housing, healthcare and energy than in 2008. They therefore have less money left over for services and items. As a result, households now consume less than before the crisis, while at the same time spending more money, ING's economic office said on Thursday, NU.nl reports. 

Amsterdam
Apr 9 '19 14:20

Expats and foreign students are a big driving force behind the spike in Amsterdam housing prices, ING's economic office said in a report. Housing prices in Amsterdam increased by an average of 70 percent since the low point on the housing market in 2013, compared to the national average of 30 percent.

Amsterdam_Zuidoost_ING-Bank_02_PM07
Mar 25 '19 12:50

The Netherlands could have attracted many more jobs from financial businesses fleeing the Brexit if it wasn't for the country's strict rules on bonuses, according to CEO Ralph Hamers of ING. Dutch law "has a lot of limits", Hamers said, NU.nl reports.

Under Dutch law, bonuses in the financial sector may not exceed 20 percent of the annual salary. This is a lot lower than the 100 percent limit in the European Union. "If you believe that people in the financial sector are stimulated by variable pay, then Amsterdam is not the obvious place to expand to", Hamers said.

ATM
Feb 5 '19 08:57

Banks are increasingly removing their ATMs from Dutch streets due to ATM bombings. People living around ATMs fear for their safety. ING bank alone closed 170 out of its total 508 ATMs in the last two years, the Telegraaf reports. 

online_shopping_900_490_90_s_c1_smart_scale
Jan 23 '19 13:30

By 2025 the Dutch market for the online sale of non-food items will be dominated by one or two platforms, like Amazon, Alibaba or bol.com, ING's economic office said on Wednesday. By that year 35 to 40 percent of all online sales will go through these platforms, the bank expects, NU.nl reports.

While online sales in the Netherlands are still fragmented, this will change in the near future. "The Netherlands is on the verge of a new battle in online retail, now that international platforms are approaching our country", said Dirk Mulder, sector banker for ING Trade & Retail. 

Amsterdam_Zuidoost_ING-Bank_02_PM07
Jan 18 '19 16:40

ING employees can look forward to "significantly" lower bonuses this year, even though the bank is doing well with more clients and turnover. The bonuses will be lower due to a settlement of 775 million euros the bank had to pay last year for failing to monitor money laundering, NOS reports.

Euronext Amsterdam stock exchange
Dec 11 '18 12:40

Amsterdam's stock exchange AEX closed on Monday at its lowest point since February 2017. The AEX index closed 1.7 percent lower at 495.31, the Telegraaf reports. 

Euros
Dec 5 '18 15:40

Business man Bill Browder pressed money laundering charges against a number of banks and businesses in the Netherlands. The Pubic Prosecutor is currently investigating the charges to see if criminal prosecution is justified, RTL Nieuws reports.

Geldmaat
Nov 5 '18 15:30

The three major Dutch banks - ING, Rabobank and ABN Amro - have decided they do not each need their own ATMs and will therefore jointly launch a new uniform, bank-independent ATM brand. The new, yellow cash dispensers will be called 'Geldmaat' and will start appearing next year, NOS reports. 

Amsterdam_Zuidoost_ING-Bank_02_PM07
Oct 15 '18 07:57

The three large Dutch banks - ING, ABN Amro and Rabobank - are largely dependent on only one company for cyber security against DDoS attacks. The cyber security firm in question is the American company Akamai, which counts 18 of the world's 30 largest banks as its customers, Financieele Dagblad reports.

Euros
Sep 26 '18 07:56

Multiple banks under the supervision of Dutch central bank DNB are too lax when it comes to countering money laundering, according to the regulator. Minister Wopke Hoekstra of Finance asked the DNB to look into this after ING was slapped with a massive settlement for this same reason. He informed parliament about the results of the DNB investigation on Tuesday, ANP reports.

Ralph Hamers, ING
Sep 24 '18 13:11

The European Central Bank is concerned about Dutch bank ING's ability to handle a hard Brexit, according to a report in FD. Sources told the financial newspaper that ING is being pressured to at least partially roll-back a 2016 decision to move dozens of trading desk staffers to their large office in London.

The new concern is that ING will lose access to some financial markets if Brexit continues to progress.

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