Exhibit 8

PRINCIPAL SUBSIDIARIES

The principal subsidiaries of ING Groep N.V. and their statutory place of incorporation or primary place of business are as follows:

Companies that are part of the banking operations

		Proportion of ownership and interest held by the Bank
		2014			2013
Subsidiary
ING Bank N.V.	The Netherlands		100	%		100	%
Bank Mendes Gans N.V.	The Netherlands		100	%		100	%
ING Lease (Nederland) B.V.	The Netherlands		100	%		100	%
ING Corporate Investments B.V.	The Netherlands		100	%		100	%
ING Vastgoed Management Holding B.V.	The Netherlands		100	%		100	%
WestlandUtrecht Bank N.V.	The Netherlands		100	%		100	%
ING België N.V.	Belgium		100	%		100	%
ING Luxembourg S.A.	Luxembourg		100	%		100	%
ING DiBa A.G.	Germany		100	%		100	%
ING Bank Slaski S.A.	Poland		75	%		75	%
ING Financial Holdings Corporation	United States of America		100	%		100	%
ING Vysya Bank Limited	India					43	%
ING Direct N.V. (1)	Spain, Italy					100	%
ING Bank A.S.	Turkey		100	%		100	%
ING Bank (Australia) Ltd	Australia		100	%		100	%
ING Bank (Eurasia) Z.A.O.	Russia		100	%		100	%

⁽¹⁾  In 2014, ING Direct N.V. merged with ING Bank N.V.

Companies that are part of the insurance operations

		Proportion of ownership and interest held by the Group
		2014			2013
Subsidiary
NN Group N.V. (1)	The Netherlands		68	%		100	%
Nationale-Nederlanden Levensverzekering Maatschappij N.V.	The Netherlands		68	%		100	%
Nationale-Nederlanden Schadeverzekering Maatschappij N.V.	The Netherlands		68	%		100	%
Parcom Capital B.V.	The Netherlands		68	%		100	%
Nationale-Nederlanden Services N.V.	The Netherlands		68	%		100	%
Movir N.V.	The Netherlands		68	%		100	%
ING Re (Netherlands) N.V.	The Netherlands		68	%		100	%
Nationale-Nederlanden Bank N.V.	The Netherlands		68	%		100	%
ING Investment Management Holdings N.V.	The Netherlands		68	%		100	%
ING Pojistovna a.s.	The Netherlands		68	%		100	%
ING Životná poist’ovna a.s	Slovakia		68	%		100	%
ING Uslugi Finansowe S.A.	Poland		68	%		100	%
ING Powszechne Towarzystwo Emerytalne S.A.	Poland		54	%		80	%
ING Asigurari de Viata S.A.	Romania		68	%		100	%
ING Greek Life Insurance Company S.A.	Greece		68	%		100	%
ING Biztosító Zártkörûen Mûködõ Részvénytársaság	Hungary		68	%		100	%
ING Pensionno-Osigoritelno Druzestvo EAD	Bulgaria		68	%		100	%
ING Life Belgium N.V.	Belgium		68	%		100	%
ING Non Life Belgium N. V.	Belgium		68	%		100	%
ING Life Luxembourg S.A.	Luxembourg		68	%		100	%
Nationale-Nederlanden Vida, Compañia de Seguros y Reaseguros S.A.	Spain		68	%		100	%
Nationale-Nederlanden Generales, Compañia de Seguros y Reaseguros S.A.	Spain		68	%		100	%
ING Emeklilik A.S.	Turkey		68	%		100	%
ING Life Insurance Company Limited	Japan		68	%		100	%
Voya Financial Inc. (2)	United States of America					56	%
ING International Nominee Holdings, Inc.	United States of America					56	%
ING Life Insurance and Annuity Company	United States of America					56	%
ING North America Insurance Corporation	United States of America					56	%
Lion Connecticut Holdings Inc.	United States of America					56	%
ReliaStar Life Insurance Company	United States of America					56	%
ReliaStar Life Insurance Company of New York	United States of America					56	%
Security Life of Denver Insurance Company	United States of America					56	%
ING USA Annuity and Life Insurance Company	United States of America					56	%
ING Investment Management Co	United States of America					56	%
Security Life of Denver International Limited	United States of America					56	%

⁽¹⁾  NN Group is classified as held for sale and discontinued operations in 2014.

⁽²⁾  Voya was deconsolidated in 2014 following loss of control.