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ING Luxembourg continues to implement its strategy shift to serve Personal and Private Banking clients and to expand its Wholesale Banking activities.
As announced in May 2024 and following an assessment of the Luxembourg market, ING has decided to focus its Retail Banking business on long-term personalized and specialized financial services (Personal and Private Banking). ING also continues to expand its Wholesale Banking offering for large corporate, institutional and investment fund clients.
To ensure a smooth transition, ING and BGL BNP Paribas have reached an agreement on an exclusive offer for approximatively 18,000 ING’s private individual clients in search of an alternative daily banking solution; the offer includes an easy account opening process and special conditions.
ING is convinced that BGL BNP Paribas is the right partner to support clients in their daily banking needs through its wide range of products and services, a dedicated onboarding program and a strong focus on digital solutions.
ING clients do not need to do anything for the time being. The clients covered by this agreement will be contacted gradually by ING over the coming months and until summer 2025 with detailed instructions on how to proceed to benefit from the BGL BNP Paribas exclusive offer. Meanwhile, ING will continue to serve these clients.
Michael Burch, CEO of ING in Luxembourg said: “We are pleased that with BGL BNP Paribas we have found an attractive alternative for our retail clients with simple daily banking needs. We are fully confident that BGL BNP Paribas offers the highly regarded services that our clients value. We will continue to deliver personalized and specialized services to our Personal and Private Banking clients, and clients with long-term investment needs. At the same time, we remain ING’s global center of expertise for fund management, and we are further strengthening our services for our Wholesale Banking clients.
Béatrice Belorgey, Chair of the Executive Committee of BGL BNP Paribas and Head of the BNP Paribas Group entities in Luxembourg, declared: “I would like to thank the ING teams for their commitment and for the quality of the partnership we are announcing today. BGL BNP Paribas’ teams are already mobilized to provide a smooth transition for the concerned ING Luxembourg customers, who will benefit from all BGL BNP Paribas Group services."
The agreement between ING in Luxembourg and BGL BNP Paribas will be carried out in accordance with regulatory legislation in force and considers the best interests of clients and other stakeholders.
More information on: www.bgl.lu/en/welcomeing