ING Group N.V.
Company History
ING History: Founding, Growth & Key Milestones
Founded 1991 in Amsterdam, Netherlands
When was ING founded?
ING was founded in 1991 in Amsterdam, Netherlands by Nationale-Nederlanden and NMB Postbank Groep, making it 35 years old.
- Founded
- 1991
- Founding place
- Amsterdam, Netherlands
- Founders
- Nationale-Nederlanden and NMB Postbank Groep
- Headquarters today
- Amsterdam, Netherlands
- Milestones documented
- 12 (1991–2026)
- Current CEO
- Steven van Rijswijk
- Acquisitions
- 5
| Year | Event |
|---|---|
| 1991 | ING Group Formed |
| 1995 | Barings Acquisition |
| 2004 | Michel Tilmant becomes CEO |
| 2008 | Dutch State Aid |
| 2009 | Jan Hommen becomes CEO |
| 2012 | ING Direct USA Sold |
| 2013 | Ralph Hamers becomes CEO |
| 2014 | Insurance Separation |
| 2018 | Money-Laundering Settlement |
| 2020 | Steven van Rijswijk Becomes CEO |
| 2025 | ~$26B (€23.0B) Total Income |
| 2026 | Outlook Upgraded After 2Q2026 |
- Where was ING founded?
- ING was founded in Amsterdam, Netherlands in 1991.
- Who founded ING?
- ING was founded by Nationale-Nederlanden and NMB Postbank Groep.
- When did ING start?
- ING was founded in 1991.
- How old is ING?
- ING is 35 years old as of 2026.
Founding Story
ING was born in 1991 when insurer Nationale-Nederlanden merged with NMB Postbank Groep after Dutch rules separating banks and insurers were relaxed. In 1997 it tested a radical idea in Canada: ING Direct, a savings bank with no branches that used phone and later internet channels and passed lower costs to savers through higher rates. The model spread to the US, Australia, Germany, Spain and other markets and became the template for ING's mobile-first bank today.
Founders
Nationale-Nederlanden
Nationale-Nederlanden was the largest Dutch insurer when it merged with NMB Postbank Groep in 1991 to form Internationale Nederlanden Groep (ING). It had been created in 1963 by combining De Nederlanden van 1845 and Nationale Levensverzekering-Bank. Its European insurance business later became NN Group, which ING floated and fully separated between 2014 and 2016. (Exact birth year remains publicly undisclosed).
NMB Postbank Groep
NMB Postbank Groep was formed in 1989 when NMB Bank, a lender to small and mid-sized businesses, merged with Postbank, the former state postal savings and giro bank. Its mass-market retail deposit base became the core of ING's banking operations after the 1991 merger with Nationale-Nederlanden. (Exact birth year remains publicly undisclosed).
Key Milestones
ING Group Formed
Nationale-Nederlanden and NMB Postbank merged to create ING Group.
Source: en.wikipedia.orgBarings Acquisition
ING acquired Barings after its collapse, expanding investment-banking exposure.
Source: en.wikipedia.orgMichel Tilmant becomes CEO
Michel Tilmant became CEO of ING Group in 2004. Stepped down in early 2009 after ING needed state support during the financial crisis.
Source: en.wikipedia.orgDutch State Aid
ING received a ~$11.3 billion (€10 billion) capital injection from the Dutch state during the global financial crisis.
Source: en.wikipedia.orgJan Hommen becomes CEO
Jan Hommen became CEO of ING Group in 2009. Stabilised ING after the bailout and began repaying Dutch state aid.
Source: en.wikipedia.orgING Direct USA Sold
ING completed the sale of ING Direct USA to Capital One in February 2012 for about $9 billion.
Source: en.wikipedia.orgRalph Hamers becomes CEO
Ralph Hamers became CEO of ING Group in 2013. Completed the post-crisis restructuring and grew ING's digital customer base.
Source: en.wikipedia.orgInsurance Separation
ING completed repayment of Dutch state aid and listed NN Group as it refocused on banking.
Source: en.wikipedia.orgMoney-Laundering Settlement
ING agreed in September 2018 to pay 775 million euros to Dutch prosecutors over failures in its money-laundering controls.
Source: en.wikipedia.orgSteven van Rijswijk Becomes CEO
Steven van Rijswijk became CEO during the pandemic and low-rate banking cycle.
Source: en.wikipedia.org~$26B (€23.0B) Total Income
ING reported ~$26 billion (€23.0 billion) of total income, a ~$7.15 billion (€6,327 million) net result and 15.4 million mobile primary customers.
Source: ing.comOutlook Upgraded After 2Q2026
ING posted a ~$2.2 billion (€1,947 million) 2Q2026 net result, raised its 2026 total income outlook above ~$27.7 billion (€24.5 billion) and announced a strategic investment in Singular Bank.
Source: ing.comMajor Acquisitions
Barings Bank
1995Rescued Barings for a nominal £1 after rogue trader Nick Leeson's losses collapsed the London merchant bank.
ReliaStar Financial Corp
2000Built a US life insurance and retirement platform.
DiBa (Allgemeine Deutsche Direktbank)
2003Took full control of the German direct bank after an earlier minority stake.
Oyak Bank (Turkey)
2007Entered Turkish retail banking.
Singular Bank (strategic investment)
2026Strategic investment in a leading Spanish wealth manager to accelerate Private Banking growth.
Keep researching ING
ING Company History FAQ
What are the historic eras in the evolutionary history of ING from 1991 to today?
ING's history spans four key eras: Creation of the Dutch Bancassurance Conglomerate (1991 to 1996), Global Expansion & The ING Direct Digital Revolution (1997 to 2007), The 2008 Financial Crisis & Bailout Restructuring (2008 to 2015), and Pure-Play European Digital & Sustainable Banking Leader (2016, present).
What was the 2008 Global Financial Crisis bailout and state support for ING?
In October 2008, amidst the global credit freeze, the Dutch Ministry of Finance injected ~$11.3 billion (€10 billion) in Core Tier 1 capital into ING to guarantee systemic stability. ING restructured its balance sheet and fully repaid the entire ~$11.3 billion (€10 billion) bailout plus ~$3.95 billion (€3.5 billion) in interest and premiums to the Dutch government by May 2014.
How did ING transform into a pure-play bank between 2010 and 2016?
To satisfy European competition authorities following the bailout, ING executed the largest corporate separation in European banking history, divesting insurance assets in Asia, Latin America, Europe (NN Group), and the US (Voya Financial) to emerge as a streamlined, well-capitalized pure-play bank.
What was the landmark launch of the 'Terra Approach' to climate finance in 2018?
In 2018, ING introduced the Terra approach at the COP24 Climate Summit, becoming the first global bank to commit to steering its entire ~$678B (€600B)+ lending portfolio in alignment with the Paris Climate Goals, inspiring the United Nations Collective Commitment to Climate Action.
When did ING officially open its sustainable 'Cedar' global headquarters in Amsterdam?
ING moved into its Cedar headquarters in Amsterdam-Zuidoost around 2019-2020, a building designed around sustainability and open collaboration.
How did ING pioneer digital mobile banking adoption across Europe in the 2010s?
ING built on its ING Direct heritage with app-first banking across the Netherlands, Germany, Belgium and Spain, reaching 15.4 million mobile primary customers by end-2025.
How did ING handle the exit of non-core retail operations in France and the Czech Republic in 2021 to 2022?
Following strategic portfolio reviews, ING closed its retail operations in France and the Czech Republic, transferring retail customer agreements to local banking partners (like Boursorama in France) to concentrate capital on high-return markets.
What is ING Group's strategic vision for the next decade of global banking?
ING envisions empowering millions of consumers and businesses to stay a step ahead in life and business, providing frictionless digital banking, superior capital returns, and leading the multi-trillion euro green transition across Europe and the world.
How did ING start?
ING (Internationale Nederlanden Groep) was officially formed in 1991 through a massive, historic merger in the Netherlands. NMB Postbank (the country's massive state-owned postal bank) merged with Nationale-Nederlanden (the country's largest insurance company). This created a massive "bancassurance" giant that instantly dominated the Dutch financial sector.
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