ING spells the end of Bancassurance

	“It is only an arrogant culture in banking that could have fooled itself to think that the Commission was not serious about change” Neelie Kroes, European Commission

WHEN EUROPEAN COMPETITION commissioner Neelie Kroes announced in early November that she was not “some kind of bank destroyer” there must have been a few rather hollow laughs at the Amsterdam headquarters of ING. The comment came just days after the announcement of a break-up of the group that was wider reaching than anyone had expected.