Dutch bank ING recorded a net profit of 1.3 billion euros in the first quarter of 2016, compared to 1.8 billion euros in net profit the bank made in the same period last year. Excluding once-off windfalls and set backs, the profits dropped 29 percent to 842 million euros
Dutch banks ING and Rabobank jointly invested 218.6 million euros in Russian coal firm SUEK in February of this year, according to bank watchdog Eerlijke Banwijzer. The watchdog finds the investments "appalling" and calls on both banks to stop investing in coal producers.
Renting out rooms to tourists through Airbnb can at least partly be blamed for the skyrocketing housing prices in Amsterdam and the increasing gap between rich and poor in the city, according to a study done by ING's Economic Bureau
On Thursday afternoon ING Group announced the sale of the last of its residual share in the insurance and asset management company Nationale-Nederlanden
A new Rembrandt, painted nearly four centuries after the famous Dutch artist's death, was unveiled in Amsterdam art gallery Looiersgracht 60 on Tuesday. The portrait of a Caucasian man with a white collar and a hat was not painted by an understudy or fan, but by a computer based on Rembrandt's complete works.
Dutch bank ABN Amro is lowering the cost of many of its consumer products by up to 60 percent, the company announced in a statement on Friday. The discount will be given to new clients, and also to existing customer accounts.
The bankruptcy curator working on the bankruptcy of Perry Sport and Aktiesport is filing a law suit against the stores' four banks over unpaid wages for the staff.
ING bank will likely layoff a number of London staff members if the United Kingdom decides to withdraw from the European Union, the so-called Brexit, CEO Ralph Hamers said to Bloomberg. Hamers' statement follows a similar statements from HSBC Holdings last week and other financial institutions.
Russian telecom company Vimpelcom, one of the largest telecom companies in the world, is paying a 716 million euro settlement to the Netherlands and United States. This is to avoid criminal prosecution for bribery.
ING bank bought a stake in the Chinese lending platform WeLab, the bank announced in Beijing on Tuesday. In China WeLab is active in the peer-to-peer lending platform wolaidai.com
Compared to the United States, Europe is always ahead in terms of adopting the latest payment and financial technologies. In 2014, The Guardian reported that America is ‘a decade behind Europe’ in terms of adopting the chip and pin cards that have reduced data theft, due to the former’s strict regulatory rules. Today, European countries, especially the Netherlands, are keen to adopt the latest fintech.
There are rumors abound that the United Kingdom postal service is about to make a bid on Dutch counterpart PostNL
Dutch bank ING plans to support the Apple Pay payment system in the near future, the bank said on Twitter.
Dutch bank ING decided to stop financing new coal plants with immediate effect. The bank will also no longer provide credit to new clients in the energy industry that rely on coal more than 50 percent.
Banks want politicians to stop with the ever increasing rules and requirements for the sector. They fear that all these requirements will force them to implement extra fees on loans and mortgages.
Dutch pension fund ABP invested nearly one billion euros in companies that produce parts for nuclear weapons over the past three and a half years. This makes the pension funds for civil servants one of the biggest Dutch investors in nuclear weapons.
Contactless payments via a smartphone will soon replace debit cards and cash.
Dutch banks invested a massive 27 billion dollars in fossil fuel companies over the past five years. This accounts for 77 percent of the total investments in energy.
Dutch bank ING has benefited from the recovery of the Dutch economy, showing a 14 percent increase in its profits over the past year. On Wednesday ING reported pofits of 1.06 billion euros for the third quarter, this being up from 928 million euros last year. Profits were aided by the 25.8 percent interest still held in former insurance subsidiary NN.
Minister Jeroen Dijsselbloem of Finance wrote the Dutch law giving banks a tax deduction on coco's, a type of bond, largely based on advice from ING. This tax deduction has given the entire Dutch banking sector an advantage of 350 million euros per year.
Dutch bank ING is accused of enabling 123 million euros of money laundering, channelling the flow of funds into companies in tax havens such as the Virgin Islands, reported Volkskrant.nl. Statements made by financier Sam van Doorn, 71, says that ING was repeatedly warned about the shady business practices going on there.
Dutch hotels saw an increase in sales of 5 percent compared to the same period of last year. Foreign tourists in particular spent more money on overnight stays in hotels, Statistics Netherlands announced on Monday. These figures exclude overnight stays in room rented out by individual through sites like Airbnb, which is still seen as a growing threat to "old-fashioned" hotels.
Rabobank has found two successors for its departing chief financial officer Bert Bruggink, both currently working for competitor ING.
Construction is the fastest growing sector in the Netherlands this year, with an expected growth of 5 percent over 2015.