ING leaves retail banking in France, 460 employees affected | Photo credits: Gil C / Shutterstock.com
PARIS, December 21 (Reuters) – ING announced on Tuesday that it was abandoning its retail banking activity in France, where it has not reached the desired size, resulting in a social plan concluded with the unions concerning 460 employees.
Discussions are underway with “third parties” regarding its client portfolio, the Dutch bank added in a statement, without further details.
“We are constantly evaluating our activities, in particular to determine whether they have a probability of reaching the desired size in their market within a reasonable period of time. In this context, we have decided to exit the French retail banking market, by concentrating our focus on our portfolio of activities where we can best deploy ourselves, “said Aris Bogdaneris, head of retail banking in the management board of the Dutch institution.
ING has been present in retail banking in France since 2000, via online services. It has approximately one million customers nationwide, to whom it offers current accounts, home loans, consumer loans and investment products.
On the other hand, it will keep its activity of “large clientele bank” in France.
ING will record a restructuring charge in its accounts for the fourth quarter of 2021, the amount of which is not specified, following this decision to give up retail banking in France, taken after a strategic review announced last June. (Bertrand Boucey, edited by Blandine Hénault and Tangi Salaün)