ING Australia
Australian bank / From Wikipedia, the free encyclopedia
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ING Bank (Australia) Limited (trading as ING since 2017, and as ING DIRECT 1999–2017) is a direct bank operating in Australia. It is a wholly owned subsidiary of the multinational Dutch bank, ING Group. ING in Australia holds an Australian banking licence as a foreign subsidiary company.[2]
Company type | Subsidiary |
---|---|
Industry | Banking, financial services |
Founded | 1999 |
Headquarters | 60 Margaret Street, Sydney, Australia |
Area served | Australia |
Key people | Melanie Evans, CEO |
Products | Finance and insurance Consumer banking Corporate banking Superannuation Mortgages |
Revenue | A$1.69 billion (2023)[1] |
A$654 million (2023)[1] | |
Total assets | A$87.0 billion (2023)[1] |
Total equity | A$6.0 billion (2023)[1] |
Number of employees | 2,486 (December 2023)[1] |
Parent | ING Group |
Divisions | Retail banking, business banking, wholesale banking[1] |
Website | www.ing.com.au |
ING operates through a number of controlled entities: trusts and the primary bank division, ING, which operates under the segments of Mortgages, Savings, Everyday Banking, Consumer Lending, Superannuation, Insurance, Wholesale Banking and Commercial Lending.[1]
Founded in 1999, ING in Australia was Australia's first direct bank. It has since grown to become the largest mortgage lender outside of Australia's Big Four banks.[3] ING scores favourably with customer satisfaction and has the highest net promoter score of any major financial institution in Australia.[4][5]
As of December 2023, the bank had over 2.8 million customers. In December 2015, ING had a mortgage portfolio valued at AU$38.6 billion and AU$1.6 billion super funds under management, with 34,000 active superannuation retirement accounts in 2014.[6]
As of December 2020, ING had a loan portfolio of $65.2b and deposits of $46.6b. Total customers had grown to 2.8m.