ING starts rollout of retail banking network in Ukraine

Amsterdam, 5 June 2008

ING announced today the rollout of its retail banking operations in Ukraine with the formal opening of its first outlet in Kiev.

Announcing the launch, Eli Leenaars, member of the Executive Board of ING Group and responsible for retail banking said, “This initiative is in line with our retail strategy for countries with a significant growth potential. We have keenly followed the developments in Ukraine – one of the world’s fastest growing banking markets. Our decision to establish a retail banking operation reflects our confidence in the continued growth and development of the Ukrainian economy. Based on the success of our Retail Banking operations in Romania, I am convinced that with a similar approach we will be able to rapidly build a successful retail bank in Ukraine”.

Jef Van In, General Manager Retail Banking of ING Bank Ukraine added, “ING is setting a new standard in Retail Banking in Ukraine, bringing customers convenience, transparency, great service and more control over their finances by introducing an innovative self banking concept that combines internet banking with highly automated offices with access to personal advice”.

In the coming years, ING plans to recruit 550 staff and aims to become one of the top 5 retail banks in Ukraine by rapidly expanding to a nationwide distribution network of over 250 outlets starting in the largest Ukrainian cities Kharkiv, Dnipropetrovsk, Odessa, Donetsk and Lviv.

The greenfield in Ukraine capitalises on the successful self banking model that has previously been introduced in Romania and has attracted over 544,000 customers since its launch. Ukrainian customers will be offered a current card account that yields a high (8%) interest rate and overdraft facility, internet banking and access to highly automated outlets with cash functions and personal advice. In future, ING plans to extend its product offering with mortgages, instalment loans, fixed term deposits and credit cards products.

The retail banking activities will further support the sustainability and growth potential of the existing operations of ING in Ukraine. ING was one of the first Western banks to start operations in Ukraine in 1994 when the bank opened a Wholesale Banking office in Kiev. Last year ING announced the start of its lease operations.

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Nanne Bos

ING

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nanne.bos@ing.com

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ING is a global financial institution of Dutch origin offering banking, investments, life insurance and retirement services to over 75 million private, corporate and institutional clients in more than 50 countries. With a diverse workforce of about 130,000 people, ING is dedicated to setting the standard in helping our clients manage their financial future.