Findings from the ING International Survey on Savings 2016, which questioned nearly 15,000 people in Europe, the US and Australia, found that the record low interest rates offered on savings are leading many investors to diversify their portfolios to include non-traditional investments.
“We work hard every day to improve the customer experience and are grateful for the confidence our clients place in us,” said Ralph Hamers, CEO of ING Group. “In 2015, our retail customer base grew by over 1.4 million new customers to 34.4 million at year-end; of this total, the number of customers selecting ING as their primary bank rose by almost 7% to 8.9 million.
Europeans are making a conscious effort to boost their savings. The ING International Survey on Savings 2016, which surveyed almost 15,000 people across 15 countries, reveals one in five (19%) people in Europe grew their savings over the last 12 months, with the UK and Luxembourg having the largest share putting money away (30%).
Household incomes in Europe are recovering, and are likely to exceed their 2009 peak later this year, according to an ING economics report released today.
Half of the 60 largest economies face a serious risk of water shortages in the future unless climate policy changes
Savers would prefer to hoard cash outside of bank accounts rather than spend it, if interest rates turn negative, according to an international survey.
“ING recorded a successful third quarter during which we made good progress on our Think Forward priorities”, said Ralph Hamers, CEO of ING Group. “We accelerated our innovation efforts by establishing partnerships with financial technology companies, generating new ideas which will help us to further create a differentiating customer experience. At the same time our strengthened sustainability focus was recognised by leading external sustainability benchmarks in their annual reviews. In terms of financial performance, ING Bank delivered another solid quarter, with increased lending, lower risk costs and a continued strong capital position.”
Confidence in European house prices continues to rise, but higher costs are putting a strain on consumers with many struggling to pay the rent or mortgage each month.
International media professionals agree: social media increasingly influence the news. American PR professionals in particular welcome social media as a reliable source of information, German journalists are the most sceptical.
Today, ING CEO Ralph Hamers will address the Bank of America Merrill Lynch Annual Banking, Insurance & Diversified Financials CEO Conference in London.
