Awards for Excellence 2009: Belgium
Best Bank: ING Belgium
It was a disastrous year for Belgian banks. But amid the dismemberment and bailouts ING Belgium stood out. It earned a substantial pre-tax profit of €1.1 billion, €905 million after tax, which was achieved despite the difficult economic environment. Its deposit base remained stable, while its loan book rose by 9%.
This is one of ING’s home markets and it plays a central role in the bank’s business strategy – ING has established a separate unit for Belgium for wholesale banking which is headed by a Belgian. ING Belgium is pushing to become Belgium’s first universal direct bank.