29 January 2019 | Press release
ING Vysya Bank to merge with Kotak Mahindra Bank
ING Vysya Bank (Vysya) and Kotak Mahindra Bank (Kotak) today announced their intention to merge their respective businesses.
ING Vysya Bank (Vysya) and Kotak Mahindra Bank (Kotak) today announced their intention to merge their respective businesses.
ING Group will propose to the 2015 Annual General Meeting of Shareholders the appointment of KPMG Accountants N.V. as its auditor. Under Dutch legislation, ING is required to change its auditor as of January 2016. The nomination of KPMG is the result of a thorough tender process overseen by the Audit Committee of the Supervisory Board, as reported in the 2013 Annual Report and in accordance with the ING Group Policy on Auditors Independence.
ING has notified the Dutch State that it intends to make the final repayment of EUR 1,025 million on the core Tier 1 securities on 7 November 2014 - half a year ahead of the repayment schedule as agreed with the European Commission in 2012.