Consolidated companies and businesses acquired and divested	6 Months Ended
Jun. 30, 2022
Consolidated companies and businesses acquired and divested [Abstract]
Consolidated companies and businesses acquired and divested	21 Consolidated companies and businesses acquired and divested On 28 October 2021 ING announced that its subsidiary Payvision will start phasing out its services as a payment service provider and acquirer. The aim is to complete the phase-out process in 2022. ING has been active in the French retail banking market since 2000 as an online bank. In December 2021 ING announced that it will leave the retail banking market in France in order to sharpen the focus of its business portfolio. ING and Boursorama (a subsidiary of Societe Generale) have signed an agreement to offer the attractive services to retail customers of ING in France. The contract allows ING customers to join Boursorama and benefit from a simplified account opening process and exclusive offers. The agreement also includes the transfer to Boursorama of ‘as surance-vie’ (investment products) contracts, for which ING acts as a broker with Generali Vie. Home loans and consumer loans are not included in the agreement and the portfolio will continue to be managed by ING. The agreement follows ING’s announcement in December 2021 to exit the French retail banking market. The aim is to finalise this exit by the end of 2022. ING’s departure from the France retail banking market is proceeding well with EUR 5.5 billion saving accounts already transferred to Boursorama. ING will continue its Wholesale Banking activities in France, with a focus on strengthening its position and the ambition to be the go-to bank for sustainable finance.

Consolidated companies and businesses acquired and divested

On 28 October 2021 ING announced that its subsidiary Payvision will start phasing out its services as a payment

service provider and acquirer.

The aim is to complete the phase-out process in 2022.

ING has been active in the French retail banking market since 2000 as an online bank. In December 2021 ING

announced that it will leave the retail banking market in France

in order to sharpen the focus of its business

portfolio. ING and Boursorama (a subsidiary of Societe Generale) have

signed an agreement to offer the

attractive services to retail customers

of ING in France.

The contract allows ING customers to join Boursorama

and benefit from a simplified account opening process

and exclusive offers. The agreement

also includes the transfer to Boursorama of ‘as

surance-vie’ (investment

products) contracts, for which ING acts as a broker

with Generali Vie. Home loans and consumer loans are not

included in the agreement and the portfolio will continue to be managed by ING.

The agreement follows ING’s

announcement in December 2021 to exit the French retail banking market.

The aim

is to finalise this exit by the end of 2022. ING’s departure from the France

retail banking market is proceeding

well with EUR

5.5

billion saving accounts already transferred

to Boursorama. ING will continue its Wholesale

Banking activities in France, with a focus on strengthening its position and the ambition to be the go-to bank for

sustainable finance.