GlobeNewswire

ING to leave Czech retail banking market by end-2021

Share

ING to leave Czech retail banking market by end-2021

Customers will receive a welcome offer from Raiffeisenbank Czech Republic

ING is announcing today that it intends to withdraw from the retail banking market in the Czech Republic. Raiffeisenbank Czech Republic has agreed to prepare a welcome offer for ING’s retail customers in the Czech Republic.

In March, customers will receive an invitation from Raiffeisenbank to move to this bank over the coming months. The ambition is for ING to stop all its retail activities in this market by the end of 2021. ING will remain active in the Czech Republic as a provider of wholesale banking products and services.

ING has been present in the Czech retail banking market for more than 20 years, offering savings accounts and mutual funds. Currently ING serves around 375,000 local retail customers. Globally, ING supports more than 39 million retail and wholesale customers in 40 markets.

The agreement with Raiffeisenbank has been secured to ensure ING’s customers in the Czech Republic can continue to meet their banking needs. ING customers will receive the option to move their savings and investments to Raiffeisenbank at preferential conditions. The agreement between ING Czech Republic and Raiffeisenbank Czech Republic is pending regulatory approval.

“We continuously evaluate our activities, including assessing whether they are likely to achieve the preferred scale in their market within a reasonable time frame. In this context we have decided to exit the Czech retail market, sharpening the focus of our business portfolio. We are confident that our customers are well -served by the attractive offer from Raiffeisenbank, which has a proven customer-centric and digital track record,” said Aris Bogdaneris, member of the Management Board Banking and  head of Challengers & Growth Markets at ING Group.

Currently the retail operations in the Czech Republic employ approximately 225 FTE. ING will build on its track record in supporting its employees with finding employment outside the bank.

Note for editors

For further information on ING, please visit www.ing.com. Frequent news updates can be found in the Newsroom or via the @ING_news Twitter feed. Photos of ING operations, buildings and its executives are available for download at Flickr. ING presentations are available at SlideShare.  

Press enquiriesInvestor enquiries
Christoph Linke ING Group Investor Relations
+31 20 576 43 15 +31 20 576 6396
Christoph.Linke@ing.comInvestor.Relations@ing.com


ING Profile

ING is a global financial institution with a strong European base, offering banking services through its operating company ING Bank. The purpose of ING Bank is empowering people to stay a step ahead in life and in business. ING Bank’s more than 57,000 employees offer retail and wholesale banking services to customers in over 40 countries. 
ING Group shares are listed on the exchanges of Amsterdam (INGA NA, INGA.AS), Brussels and on the New York Stock Exchange (ADRs: ING US, ING.N).
Sustainability forms an integral part of ING’s strategy, evidenced by ING’s leading position in sector benchmarks by Sustainalytics and MSCI and our ‘A-list’ rating by CDP. ING Group shares are included in major sustainability and Environmental, Social and Governance (ESG) index products of leading providers STOXX, Morningstar and FTSE Russell. In January 2021, ING received an ESG evaluation score of 83 ('strong') from S&P Global Ratings. 

Important legal information

Elements of this press release contain or may contain information about ING Groep N.V. and/ or ING Bank N.V. within the meaning of Article 7(1) to (4) of EU Regulation No 596/2014.

ING Group’s annual accounts are prepared in accordance with International Financial Reporting Standards as adopted by the European Union (‘IFRS-EU’). In preparing the financial information in this document, except as described otherwise, the same accounting principles are applied as in the 2019 ING Group consolidated annual accounts. The Financial statements for 2020 are in progress and may be subject to adjustments from subsequent events. All figures in this document are unaudited. Small differences are possible in the tables due to rounding.

Certain of the statements contained herein are not historical facts, including, without limitation, certain statements made of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results, performance or events may differ materially from those in such statements due to a number of factors, including, without limitation: (1) changes in general economic conditions, in particular economic conditions in ING’s core markets, including changes affecting currency exchange rates, (2) the effects of the Covid-19 pandemic and related response measures, including lockdowns and travel restrictions, on economic conditions in countries in which ING operates, on ING’s business and operations and on ING’s employees, customers and counterparties, (3) changes affecting interest rate levels, (4) any default of a major market participant and related market disruption, (5) changes in performance of financial markets, including in Europe and developing markets, (6) changes in the fiscal position and the future economic performance of the United States, including potential consequences of a downgrade of the sovereign credit rating of the US government, (7) consequences of the United Kingdom’s withdrawal from the European Union, (8) changes in or discontinuation of ‘benchmark’ indices, (9) inflation and deflation in our principal markets, (10) changes in conditions in the credit and capital markets generally, including changes in borrower and counterparty creditworthiness, (11) failures of banks falling under the scope of state compensation schemes, (12) non-compliance with or changes in laws and regulations, including those financial services and tax laws, and the interpretation and application thereof, (13) geopolitical risks, political instabilities and policies and actions of governmental and regulatory authorities, (14) ING’s ability to meet minimum capital and other prudential regulatory requirements, (15) outcome of current and future litigation, enforcement proceedings, investigations or other regulatory actions, including claims by customers, (16) operational risks, such as system disruptions or failures, breaches of security, cyber-attacks, human error, changes in operational practices or inadequate controls including in respect of third parties with which we do business, (17) risks and challenges related to cybercrime including the effects of cyber-attacks and changes in legislation and regulation related to cybersecurity and data privacy, (18) changes in general competitive factors, (19) the inability to protect our intellectual property and infringement claims by third parties, (20) changes in credit ratings, (21) business, operational, regulatory, reputation and other risks and challenges in connection with climate change, (22) inability to attract and retain key personnel, (23) future liabilities under defined benefit retirement plans, (24) failure to manage business risks, including in connection with use of models, use of derivatives, or maintaining appropriate policies and guidelines, (25) changes in capital and credit markets, including interbank funding, as well as customer deposits, which provide the liquidity and capital required to fund our operations, (26) the other risks and uncertainties detailed in the most recent annual report of ING Groep N.V. (including the Risk Factors contained therein) and ING’s more recent disclosures, including press releases, which are available on www.ING.com.

This document may contain inactive textual addresses to internet websites operated by us and third parties. Reference to such websites is made for information purposes only, and information found at such websites is not incorporated by reference into this document. ING does not make any representation or warranty with respect to the accuracy or completeness of, or take any responsibility for, any information found at any websites operated by third parties. ING specifically disclaims any liability with respect to any information found at websites operated by third parties. ING cannot guarantee that websites operated by third parties remain available following the publication of this document, or that any information found at such websites will not change following the fi ling of this document. Many of those factors are beyond ING’s control.

Any forward looking statements made by or on behalf of ING speak only as of the date they are made, and ING assumes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or for any other reason.

This document does not constitute an offer to sell, or a solicitation of an offer to purchase, any securities in the United States or any other jurisdiction.

Attachment


About GlobeNewswire

GlobeNewswire
GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://globenewswire.com

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire

Subscribe to all the latest releases from GlobeNewswire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire

Karolinska Development’s portfolio company OssDsign announces a fully guaranteed rights issue and launches new corporate strategy2.3.2021 17:02:24 CETPress release

STOCKHOLM, SWEDEN – March 2, 2021. Karolinska Development AB (Nasdaq Stockholm: KDEV) announces today that its portfolio company OssDsign has decided to carry out a fully guaranteed rights issue of SEK 240 million in combination with overallotment options of up to approximately SEK 30 million – a total of approximately SEK 270 million. The purpose of the financing is, among other things, to accelerate the company's development through the new strategy program ASCENT25. The guarantors of the rights issue include several of the company's previous major shareholders, including Karolinska Development, SEB Venture Capital and Fouriertransform. In connection with the rights issue, OssDsign presents a new corporate strategy with the purpose of realizing its potential and accelerating the development towards a positive cash flow by 2025. The great interest in the issue reflects confidence in OssDsign's capacity to advance to a new level. The new strategy, ASCENT25, aims to accelerate the compa

Karolinska Developments portföljbolag OssDsign genomför en fullt garanterad företrädesemission och lanserar ny bolagsstrategi2.3.2021 17:02:24 CETPressemelding

STOCKHOLM, SVERIGE 2 mars 2021. Karolinska Development AB (Nasdaq Stockholm: KDEV) meddelar idag att styrelsen i portföljbolaget OssDsign har beslutat att genomföra en fullt garanterad företrädesemission om SEK 240 miljoner i kombination med övertilldelningsoptioner om upp till cirka SEK 30 miljoner – totalt cirka SEK 270 miljoner. Syftet med finansieringen är bland annat att acclerera bolagets utveckling genom det nya strategiprogrammet ASCENT25. Företrädesemissionens garanter inkluderar flera av bolagets tidigare storägare, bland annat Karolinska Development, SEB Venture Capital och Fouriertransform. I samband med emissionsbeslutet presenterar OssDsign en ny bolagsstrategi vars syfte är att realisera dess potential och acclerera utvecklingen mot ett positivt kassaflöde senast 2025. Den stora intresset för emissionen speglar förtroendet för OssDsigns kapacitet att avancera till en ny nivå. Den nya strategin, ASCENT25, avser att accelerera företagets tillväxt, värdeskapande och inno

USD TENDER OPERATION ANNOUNCEMENT2.3.2021 16:20:00 CETPress release

Bid date, 2021-03-04Bid Date2021-03-04Bid times14.00-14.30 (CET/CEST) on the Bid dateOfferent AmountUSD 10 billionMaximum Permitted Volume of BidsUSD 4 billion from an individual institutionSettlement Date2021-03-08Minimum Permitted Bid Volume100 USD million per bidMaximum Allocation40 per cent of the Offerend amountAllocation timeNot later than 15.00 (CET/CEST) on the Bid dateMaturity Date2021-05-28Maximum Number of Bids10 per individual institutionLowest Interest Supplement0.25 percentage pointsConfirmation of bids to e-maileol@riksbank.se Stockholm, 2021-03-02 This is a translation of the special terms and conditions published on www.riksbank.se. In the case of any inconsistency between the English translation and the Swedish language version, the Swedish language version shall prevail. Complete terms and conditions can be retrieved at www.riksbank.se.

RAPALA VMC CORPORATION - FINANCIAL STATEMENTS AND CORPORATE GOVERNANCE STATEMENT 2020 PUBLISHED2.3.2021 16:00:00 CETPress release

Rapala VMC Corporation Stock Exchange Release March 2, 2021 at 5:00 p.m. RAPALA VMC CORPORATION - FINANCIAL STATEMENTS AND CORPORATE GOVERNANCE STATEMENT 2020 PUBLISHED Rapala VMC Corporation’s Financial Statements and Corporate Governance Statement 2020 have been published as attachments to this stock exchange release. These statements and other investor information as well as report on corporate responsibility and remuneration report are available on the Group’s corporate website at www.rapalavmc.com in English and Finnish. For the first time, Rapala VMC Corporation publishes the Financial Statements in accordance with European Single Electronic Format (ESEF) reporting requirements. In line with the ESEF requirements, the primary statements have been labelled with XBRL tags. These XBRL tags have not been subject to audit. RAPALA VMC CORPORATION Nicolas Warchalowski President and Chief Executive Officer For further information: Olli Aho, Investor Relations, tel. +358 9 7562 540 Distri

Novartis shareholders approve all resolutions proposed by the Board of Directors at the Annual General Meeting2.3.2021 15:26:23 CETPress release

Shareholders approve 24th consecutive dividend increase to CHF 3.00 (+1.7%) per share for 2020; representing a 3.8% yield1 and approximately 63% payout of free cash flow Shareholders confirm Dr. Joerg Reinhardt as Chairman of the Board of Directors as well as all other members who stood for re-election Shareholders approve all other proposals of the Board of Directors, including the 2020 Compensation Report in an advisory vote, as well as the future Board and Executive Committee compensation in separate binding votes Basel, March 2, 2021 — Novartis shareholders today agreed to the Board of Directors’ recommendations for all proposed resolutions at the Group’s Annual General Meeting (AGM). In accordance with the Swiss COVID-19 Ordinance 3, the 2021 AGM was held without shareholders being physically present. Accordingly, shareholders exercised their shareholder rights via the Independent Proxy and could follow the AGM via a live webcast. In addition, shareholders had the opportunity to s

project44 Unveils Supply Chain Visibility Conference Transform 20212.3.2021 15:00:00 CETPress release

project44 Brings Together Global Community at Virtual Conference for Supply Chain Innovators CHICAGO and AALBORG, Denmark, March 02, 2021 (GLOBE NEWSWIRE) -- project44, the world’s leading Advanced Visibility Platform™ for shippers and logistics service providers, today announced Transform, a virtual conference for supply chain innovators taking place on March 9, 2021 in North America and March 10, 2021 in Europe. Through thought leadership sessions, product training and networking opportunities, this event will provide a global platform for supply chain professionals across sectors to discuss topics ranging from visibility solutions to digitization. The conference will feature thought leaders from across the industry, including: Jett McCandless, CEO and founder at project44 Vernon O’Donnell, Chief Product Officer at project44 Travis Schmidt, Head of NA Transportation at Alcon Laboratories Martynas Sarapinas, CIO at Girteka Bart De Muynck, VP, Research at Gartner Steffen Wagner, Global

ISW Holdings Triples Active Cryptocurrency Mining Fleet with Additional POD5IVE Datacenters2.3.2021 14:30:00 CETPress release

LAS VEGAS, March 02, 2021 (GLOBE NEWSWIRE) -- via InvestorWire -- ISW Holdings, Inc. (OTC: ISWH) (“ISW Holdings” or the “Company”), a diversified portfolio comprised of essential business lines that serve consumer product demands in decentralized markets, is pleased to announce that, following the signing of hosting agreements with Bit5ive LLC, based in Miami, Florida, and Scrubgrass Generating Company, LLP, based in Kennerdell, Pennsylvania, the Company has successfully tripled its active cryptocurrency mining fleet with the addition of two (2) new POD5IVE datacenters. The Company now operates a total of three POD5IVE datacenter units and anticipates record acceleration in cash flows, revenue growth and profitability. The POD5IVE datacenter, produced in partnership with Bit5ive, is based on an evolutionary design. Specifications include: Active Mining Power: 62-92 Th/s depending on the miners.SHA 256 Hashrate: Currently 6,557.28 TH/s.Per POD5IVE quantity: 3x 280-360.Depending on each