ING to take next step in digital banking in the Netherlands - Seite 2

To support the omni-channel approach and to increase the reliability, efficiency and agility of its IT systems and operations in the Netherlands, ING will make further IT investments. These investments, which will lead to a more simplified IT landscape with standardised IT systems and highly automated processes will amount to a total of approximately EUR 200 million from 2015 to 2017. Total structural gross cost savings in addition to the existing running programs amount to approximately EUR 270 mln.

The further digitisation of ING's banking services, the reduction of IT systems to be managed and the increased number of automated processes is expected to result in a further reduction of ING's workforce in the Netherlands by around 1,700 FTEs over the next three years, mostly at the headquarters of ING Retail Banking and in the back offices, call centres and IT departments. For this, a pre-tax redundancy provision of EUR 320 million will be booked in the fourth quarter of 2014. In addition, ING will reduce the number of positions employed by external suppliers by 1,075.

NOTE FOR EDITORS
Ralph Hamers will discuss the announcements made today in a media conference call on 25 November 2014 at 9:00 a.m. CET. Journalists can join the conference call via the Q&A-mode at [phone] (NL) or [phone] (UK).

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Press enquiries		Investor enquiries
Carolien van der Giessen		ING Group Investor Relations
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ING PROFILE
ING is a global financial institution of Dutch origin offering banking services through its operating company ING Bank and holding significant stakes in the listed insurers NN Group NV and Voya Financial, Inc. The purpose of ING Bank is empowering people to stay a step ahead in life and in business. ING Bank's 53,000 employees offer retail and commercial banking services to customers in over 40 countries.