ING Group

ING Group
In October 1989 NMB merged with Postbank, though both banks retained their own separate branch network.

Postbank was result of a merger between the postal giro system or Postcheque en Girodienst (PCGD) and Rijkspostspaarbank (RPS) in 1986 after (PCGD) already had absorbed the Gemeentegiro (Amsterdam, Municipal Giro System) in 1979.

In 1991 NMB Postbank merged with the Nationale-Nederlanden insurance group into ING (Internationale Nederlanden Groep) and became ING Bank (Internationale Nederlanden Groep Bank) in 1992.

This was amongst other things in order to be able to become a global player. NMB Bank having entered the international market in the mid 1970s.

The state, which during the war had taken an 86 percent share in NMB’s capital had been gradually divesting, but after the merger of NMB and the fully state-owned Postbank it had a 50 per cent stake the new combine and continued divesting after.

Nationale-Nederlanden traces its roots back to the founding of Dutch Bank De Nederlanden van 1845.

Nationale Levensversekering Bank was founded in 1863; those two companies came together 100 years later to form Nationale-Nederlanden, which became the largest insurer in the Netherlands.

NMB Postbank Groep came about in 1986 after the merger of Rijkspostspaarbank (founded in 1881) and Postcheque- en Girodienst (founded 1918).

ING has grown into an asset management, banking and insurance giant thanks on part to major acquisitions after the 1991 merger.

The firm picked up investment banking and asset management business form Barings in 1995 for one British pound and the assumption of $1 billion n debt; Nick Leeson, Singaporean based derivatives trader had made risky and unauthorized trades costing Barings nearly a billion dollars nearly bankrupting it.

The firm purchased insurance assets from Equitable of Iowa Companies (in 1997), ReliaStar Aetna Financial Services and Aetna International (2000) and Seguros Commercial America (2001) and banking businesses Belgian Bank Brussels Lambert (1998), BHF Bank (1999) and Polish Bank Slaski (2001).
ING Group