ING-Group: optimaler Einstiegszeitpunkt ? (Seite 119)

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Frankfurt 6,02 0,57 10,46% 09:50
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[Latinl]

Michel Tilmant to step down as CEO of ING Group; Jan Hommen to beappointed as new CEO
07:30 26.01.09

ING announced today that in light of the extraordinary developments
over the past few months and given his personal condition, Michel
Tilmant will step down from the Executive Board as of today. Michel
Tilmant will be an advisor to the company until his retirement from
ING on 1 August 2009.

The Supervisory Board has decided to appoint Jan Hommen, currently
Chairman of the Supervisory Board of ING Group, as CEO of ING Group,
subject to his appointment as member of the Executive Board by the
annual General Meeting of Shareholders (GMS). This meeting is
scheduled for 27 April 2009. Until the GMS Jan Hommen will be closely
involved in the day-to-day operations of ING and work alongside the
Executive Board in anticipation of his official appointment as CEO.

Jan Hommen was appointed to the Supervisory Board of ING Group per 1
June 2005. He is a very experienced international business leader.
Until 1 May 2005 he was Vice-Chairman and CFO of the Board of
Management of Royal Philips Electronics. From 1975 to 1997 he worked
for the Aluminium Company of America (Alcoa), from 1978 at Alcoa's
head office in the United States, becoming CFO in 1991. Jan Hommen
became Chairman of the Supervisory Board of ING Group in January
2008.

As of today, Eric Boyer, member of the Executive Board since 2004,
will be acting-CEO until Jan Hommen can formally take over after the
GMS.

Jan Hommen said: "Michel has been a member of the Executive Board of
ING Group for many years and a formidable CEO since 2004. Under his
leadership ING has made major steps in its development as a
successful player in the financial services industry. Michel has
built a very good team around him and continuity of management is
therefore secured. I am confident that we will continue to steer ING
successfully through today's very challenging environment."

The Supervisory Board has decided to appoint Peter Elverding as
successor of Jan Hommen as Chairman of the Supervisory Board
effective after the GMS in April 2009. In light of this appointment,
the Dutch state will nominate an other member for the Supervisory
Board.

Press enquiries
Peter Jong
ING Group
[phone]
[e-mail]

ING Profile
ING is a global financial institution of Dutch origin offering
banking, investments, life insurance and retirement services to over
85 million private, corporate and institutional clients in more than
50 countries. With a diverse workforce of about 130,000 people, ING
is dedicated to setting the standard in helping our clients manage
their financial future.

This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.

[Latinl]

ING update on results and measures to reduce risk and costs
07:45 26.01.09

ING update on results and measures to reduce risk and costs

ALL DATA BASED ON PRELIMINARY AND UNAUDITED FIGURES
* FULL YEAR 2008 UNDERLYING NET RESULT EXPECTED AROUND EUR -0.4
BILLION

- Full year 2008 net result expected of EUR -1.0 billion after
divestments and special items
- Banking underlying net result of EUR 0.5 billion supported by
retail franchise in home markets
- Insurance underlying net result of EUR -0.9 billion impacted
by declines across asset classes

* FOURTH QUARTER UNDERLYING NET RESULT EXPECTED OF EUR -3.3
BILLION

- Result driven by impairments and fair value adjustments on
pressurized assets
- Banking underlying net result approximately EUR -1.3 billion
- Insurance underlying net result around EUR -2.0 billion

* REDUCTION OF RISK AND EXPENSES TO ADAPT ORGANIZATION TO NEW
ENVIRONMENT

- Risks reduced by Illiquid Assets Back-up Facility with Dutch
State covering 80% of Alt-A RMBS
- Further risk reduction by limiting exposure to major asset
classes
- Cutback of expenses by EUR 1 billion in 2009 including
workforce reduction of 7,000 positions
- Selective divestments outside the focus of core franchise

ING announced today that it is taking measures to counter the
implications of the persistently challenging economic and market
conditions. In order to adapt the organization to the new business
environment, ING is taking several steps to reduce risk and expenses
and increase focus on its core savings and investment business.

Based on preliminary and unaudited figures, ING expects to report an
underlying net result of approximately EUR -0.4 billion for the full
year 2008. The net result of around EUR -1.0 billion for the full
year reflects the effects of selling the insurance business in Taiwan
and ending the pension operations in Argentina. The Banking
underlying net result of EUR 0.5 billion was supported by the retail
franchise in our home markets. Insurance is expected to report a full
year underlying net result of EUR -0.9 billion as impairments across
all asset classes impacted results.

In the fourth quarter market conditions deteriorated sharply, making
it the worst quarter for equity and credit markets in over half a
century. This led to an underlying net result of EUR -3.3 billion for
the fourth quarter, based on preliminary and unaudited figures.
Results were impacted by impairments and losses on pressurized assets
(subprime RMBS, Alt-A RMBS and CDOs/CLOs) of EUR -2.0 billion, on
equity securities of EUR -0.7 billion and on debt securities of EUR
-0.3 billion, all on a pre-tax basis. Revaluations on real estate
amounted to EUR -0.6 billion and on private equity to EUR -0.3
billion. Other market impact included equity capital gains and equity
hedges of EUR -0.2 billion, equity related DAC (deferred acquisition
costs) unlocking of EUR -0.3 billion and the result of FX hedges and
other mark-to-market valuations of EUR -0.7 billion. Loan loss
provisions increased to EUR -0.6 billion for the quarter as economic
conditions worsened.

ING's capital and capital ratios remained strong. Total equity was
EUR 28.6 billion at year end 2008, up from EUR 25.6 billion at the
end of the third quarter, including the core Tier-1 securities issued
to the Dutch State. ING Bank's Tier-1 ratio was 9.1% at year end with
a core Tier-1 ratio of 7.1%. The capital coverage ratio for ING
Insurance was 258% while the group debt/equity ratio stood at 12.6%
at year-end.

Commercial activity kept up well given the inevitable impact of
worsening economic conditions. Customer deposits increased in 2008,
despite some currency effects and rebalancing in the fourth quarter.
Lending growth was strong in 2008 despite a decline which occurred in
the fourth quarter except in the Netherlands. Insurance sales
declined from the third quarter reflecting lower demand for
investment products.

"Naturally, I am disappointed with our results in this extremely
tough environment," said Jan Hommen, Chairman and CEO-designate of
ING. "With the continuing challenging outlook, we feel it is
important to take additional action to decrease our risks and
expenses. We sincerely regret the impact that some of the measures we
are announcing today will have on our colleagues, but these steps are
essential to adapt our organization to the new business environment."

ILLIQUID ASSETS BACK-UP FACILITY
ING and the Dutch government have reached an agreement on an Illiquid
Assets Back-up Facility covering 80% of ING's Alt-A mortgage
securities. Market prices for these securities have become depressed
as liquidity dried up, which had an impact on ING's results and
equity far in excess of reasonably expected credit losses. The
transaction will significantly reduce the uncertainty regarding the
impact on ING of any future losses in the portfolio.

Under the terms of the Back-up Facility, a full risk transfer to the
Dutch State will be realized on 80% of ING's EUR 27.7 billion
portfolio of Alt-A RMBS at ING Direct USA and ING Insurance Americas.
The Dutch State therefore will participate in 80% of any results of
the portfolio. This risk transfer will take place at a discount of
10% of par value. ING will remain the legal owner of 100% of the
securities and will remain exposed to 20% of any results on the
portfolio.

As a consequence of the transaction, the Dutch State will be entitled
to receive 80% of the cash flows of the total portfolio. ING will pay
to the Dutch state an annual Guarantee Fee consisting of a fixed
amount plus a percentage of the payments received on the securities.
The net present value of this fee is EUR -0.6 billion. ING will
receive from the Dutch State payments representing a net present
value of EUR 0.5 billion. In addition ING will receive from the Dutch
State a management fee with a net present value of EUR 0.7 billion.
As a consequence of the factors above, the transaction will have a
limited impact on ING's first quarter profit & loss.

The effects of the transaction on ING's capital and balance sheet
will include a reduction of equity volatility, a positive impact on
shareholders' equity of EUR 5 billion through a reduction of the
negative revaluation reserve. Risk-weighted assets will be reduced by
approximately EUR 15 billion, raising ING Bank's Tier-1 ratio by
approximately 40 basis points to 9.5% and the core Tier-1 by 32 basis
points to 7.4%, both on a pro forma basis. The transaction is
expected to close in the first quarter of 2009, subject to further
documentation and regulatory approval.

ING will earmark part of the capital released by the Back-up Facility
to support the growth of the Dutch lending business for an amount of
EUR 25 billion at market conforming conditions. Under the terms of
the agreement, ING commits itself to pro-actively use EUR 10 billion
of the Credit Guarantee Scheme of the State of the Netherlands to
support the scheme.

For the duration of the Back-up Facility, ING will maintain the
corporate governance measures agreed upon issuing core Tier-1
securities to the State in November 2008. In addition, the
government-nominated members of the ING Supervisory Board will have
approval rights on certain executive appointments. The Executive
Board of ING has agreed to forego all bonuses until a reviewed
remuneration policy will be completed. This policy will include
criteria on sustainability for the Executive Board and is expected to
be proposed to the annual General Meeting of Shareholders in 2010.

"With this agreement, we take a firm stride to reduce the risks on
our balance sheet. We much appreciate the measures the Dutch
government is taking in this phase to restore confidence in the
financial sector and stimulate the economy and thank them for
reaching this agreement," said Jan Hommen.

REDUCING RISK AND LEVERAGE
ING has also initiated measures to reduce exposure to several major
other asset classes. Proprietary equity exposure has been reduced
from EUR 15.8 billion at the end of 2007 to EUR 5.8 billion at
year-end 2008, which for EUR 1.9 billion consists of strategic
banking stakes including in Bank of Beijing and Kookmin. Of the
remainder, EUR 3.9 billion is hedged against further market losses. A
temporary hedging program was put in place to reduce earnings
volatility as a result of DAC unlocking.

ING aims to reduce the bank balance sheet by 10% by decreasing the
non-lending part by 25%. The available for sale portfolio will be
reduced over time as proceeds from maturing securities will be used
to fund ING-originated loans. Reducing trading activities, deposits
at other banks and reverse-repos will make up most of the remaining
reduction. At the same time, lending growth will be maintained
especially in our core Corporate and Retail business.

REDUCING EXPENSES
ING will cut operating expenses by EUR 1 billion in 2009. The
structural expense reduction will lead to annual savings of
approximately EUR 1.1 billion from 2010 onwards. Of the cutback, 35%
will come from a reduction of the workforce by approximately 7,000
full-time positions in 2009. The remainder of the expense reduction
comes from decreasing costs for our head office, marketing, the
Formula 1 program, consultancy, third-party staff and the
renegotiating of certain contracts with IT-vendors. Of the total
expense reduction, EUR 650 million will be realized in Banking and
EUR 350 million in Insurance.

Further details of the expense reduction program will become
available in the coming months. The workforce measures will be made
in accordance with local regulations and will be discussed with the
respective stakeholders. A restructuring provision for severance
costs of approximately EUR 450 million after-tax will be booked of
which two thirds in the first quarter of 2009 and the remainder in
the second quarter.

INCREASING FOCUS
"Even in the current circumstances, our strategic focus on retail
savings and investments is proving to be a solid foundation for our
business. Inherent to ING's business model of collecting retail
savings and investments are a strong liquidity position and a limited
reliance on wholesale funding. These have positioned us relatively
well in the current environment and will be a strong advantage when
the financial industry emerges from the current crisis," said Jan
Hommen.

ING will increase its focus on businesses and regions where it has a
strong position in savings and investments that is sustainable for
the long term. In this context, we have reviewed investments in new
greenfield operations to preserve capital and have decided not to
launch ING Direct operations in Japan. In addition, several business
units have been identified for divestment. ING will work towards
these disposals in a disciplined way.

ADDITIONAL INFORMATION
All figures mentioned in this press release are based on preliminary
data, are unaudited and may change. ING will present its complete
2008 Full Year Results on Wednesday 18 February 2009, including the
customary presentations for the media and investment communities.

Analyst and media conference calls
An investor and analyst conference call will start at 9:00 CET.
Members of the investment community can join in listen-only mode at
[phone] (NL) or [phone] (UK) or [phone] (US)
or via live audio webcast at www.ing.com.

A media conference call will start at 11:00 CET. Journalists can join
in listen-only mode at [phone] (NL) or [phone] (UK)
or via live audio webcast at www.ing.com.

Press enquiries Investor enquiries
Peter Jong Raymond Vermeulen ING Group Investor
relations
[phone] [phone] [phone]
[e-mail] [e-mail] [e-mail]

ING Profile
ING is a global financial institution of Dutch origin offering
banking, investments, life insurance and retirement services to over
85 million private, corporate and institutional clients in more than
50 countries. With a diverse workforce of about 130,000 people, ING
is dedicated to setting the standard in helping our clients manage
their financial future.

Important legal information
Certain of the statements contained herein are statements of future
expectations and other forward-looking statements. These expectations
are based on management's current views and assumptions and involve
known and unknown risks and uncertainties. Actual results,
performance or events may differ materially from those in such
statements due to, among other things, (i) general economic
conditions, in particular economic conditions in ING's core markets,
(ii) performance of financial markets, including emerging markets,
(iii) the frequency and severity of insured loss events, (iv)
mortality and morbidity levels and trends, (v) persistency levels,
(vi) interest rate levels, (vii) currency exchange rates (viii)
general competitive factors, (ix) changes in laws and regulations,
(x) changes in the policies of governments and/or regulatory
authorities, (XI) conclusions with regard to purchase accounting
assumptions and methodologies, (XII) ING's ability to achieve
projected operational synergies. ING assumes no obligation to update
any forward-looking information contained in this document.

This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.

[ghost06]

Antwort auf Beitrag Nr.: 36.435.825 von ichhabdurst am 23.01.09 14:34:27

ING ist zum einen ja auch keine reine Bank.
Dass sie ihre alten Kurshöchststände auf absehbare Zeit nicht erreichen ist auch klar.
Wie weit die ING in dem ganzen Müll mit drinsteckt, vermag wohl keiner hier zu beurteilen und auch die, die es wissen, werden es nicht sagen. Ich bin aber der Meinung, es hält sich in Grenzen. Sonst wäre doch schon etwas mehr an die Öffentlichkeit getragen worden.
Das Leerverkäufe mit allen drum und dran verboten gehörten habe ich schon zuvor mal geschrieben.
Was mich zuversichtlich stimmt, ist, dass die Banken doch gelernt haben sollten und es wohl auch haben.
Wären sie immer noch zu 90 % überbewertet würde das vermutlich den totalen Zusammenbruch des globalen Wirtschaftsystemes bedeuten.
Meiner Meinung nach nutzen viele die staatlichen Hilfen schon wieder für einen phänomenalen Aufstieg aus der Asche.

[ichhabdurst]

Antwort auf Beitrag Nr.: 36.435.516 von ghost06 am 23.01.09 13:57:06

Banken werden nicht mehr zu dem aufsteigen wo sie her kommen - dafür wurde zuviel Porzellan zerschlagen.

Kein vernünftiger Investor gesteht einer Bank bei diesem zyklischen hochriskanten Geschäft mehr ein KGV von über 3 zu.

...und das wird so bleiben - bekanntlich wird ja selbst soliden Unternehmen nur noch ein einstelliges KGV zugestanden.


Der toxische Bankenmüll ist immer noch um 90% überbewertet.


Die Läden gehören rigorous ausgemistet und kontrolliert bis in den letzten Winkel. Hedgefonds und Leerverkäufe gehören verboten.

Dann könnte wieder Vertrauen in den Finanzmarkt zurück kehren - so wie es jetzt läuft aber nicht.

Für mich hat die ING gewaltig gelogen - erst wird auf Saubermann gemacht (völlig unnötiger überteuerter Aktienrückkauf = Geldverbrennnung), Auszahlung der hohen Dividende um dann hinterher zu verkünden, dass man doch Staatshilfen brauch um das Eigenkapital zu stärken.


Abgestimmt wird mit dem Sellknopf wie man sieht.


Also warum sollte der Müll steigen - Dividende gibt´s auf Jahre nicht und umsonst ist die Kapitalspritze des Staates nicht - das kostet erst mal richig Geld...

[ghost06]

Noch ist es ja nicht raus, ob hier gelogen wurde.
Aber eigentlich sollte der Kurs schon ein wenig besser aussehen, wenn man den Artikel über den Verkauf einer Lebensvers.sparte an die Hann. Rück liest. Es sollte ja doch etwas Geld in die Kasse gekommen sein.
Lass sich die Wogen erst mal wieder glätten, dann stehen wir auch bald wieder über 10.
Zumal ich mir gestern welche zu 5,50 gekauft habe.
Ich bin selber bei der DIBA und sehr zufrieden damit und vertraue auch dem Mutterkonzern.
Obwohl der Kursverfall doch schon erheblich war.
Nehmen wir es als eine einmalige Chance.
Denk an Kostolany - kaufen wenn die Kanonen donnern -

Ghost

[ichhabdurst]

Die ING-Drecksklitsche hat genause fertig wie der rest der Banken auch. Da wurde gelogen, dass sich die Balken biegen und eine heile Welt vorgegaukelt... (Aktienrückkauf zu über 20, Dividende...)

Das ist keine besser, alle haben Dreck am Stecken und eines haben alle gemeinsam, es wurde solange verschleiert und gelogen bis es nicht mehr anders ging. Und selbst dann wird mit der Wahrheit nur stückchenweise herausgerückt.

Die perfekte Methode sämmtliches Vertrauen zu vernichten und so schnell wird das nicht wieder kommen.

Das schlimme ist nur, dass alle unter diesen Versagern leiden und die verantwortlichen Versager in keinster weise zur Rechenschaft gezogen werden. Im Gegenteil, diese Versager werden noch häufig mit fetten Abfindungen hinweggelobt und sie dürfen all ihre fetten überzogenen Pensionsansprüche behalten.


Unglaublich was hier abläuft.


Und das allerschlimmste ist, an dem ganzen System wird sich kaum etwas ändern...

[VierProzentsindzuwenig]

Antwort auf Beitrag Nr.: 36.418.184 von Bergfreund am 21.01.09 12:56:28

Bergfreund, Dein Zorn in allen Ehren, aber so ist die Welt nun mal.

Geh in den nächsten Laden und klau ein Päckchen Kaugummi, dann stehst Du mit einem Bein im Knast.
Werd Investmentbanker und verspiel das Geld der anderen, was soll es? Dann zahlen auch wieder die anderen dafür.

Ich könnte auch kotzen: kein Geld mehr zum Nachschieben und kein Land in Sicht (kurzfristig = bis zum Sommer)!
Irgendwann muss es doch mal vorbei sein ... nur wannn!!!

Dann noch diese Fantastereien mit der "Bad Bank" bei uns in Deutschland. Mann, Mann, Mann, alles nur noch auf Bildzeitungsniveau???
Ich sollte mal einen Antrag bei der SoFFin (oder wie die heißt) stellen. Vielleicht übernehmen die auch meine "Schulden", obwohl ich noch Festgeld habe.

Wir spielen ein wenig "Markt" und wenn es schief geht, dann zahlt der Steuerzahler. Vielleicht wäre es doch besser gewesen, einige Bankhäuser in der BRD wären ganz vor die Hunde gegangen. Dieser künstliche Tropf, mit dem den Zombies Blut eingeflöst wird, der ist doch auch nichts Wahres!!!

[stauffenberg]

Die Gerüchte, die bösartige Menschen über die ING vor Tagen gestreut hatten, sind FALSCH.

[herwoe]

ig hat ein potenzial von über 300 %.