ING Expands Portfolio with Van Lanschot Kempen Stake Acquisition
ING Expands Portfolio with Van Lanschot Kempen Stake Acquisition
ING has announced a strategic move to enhance its wealth management and private banking services by acquiring a 17.6% stake in Van Lanschot Kempen N.V., a distinguished wealth manager renowned for catering to private, institutional, and investment banking clients. This recent acquisition allows ING to raise its total ownership to 20.3% through the incorporation of its existing 2.7% stake.
Exploring Van Lanschot Kempen's Legacy
Van Lanschot Kempen boasts a rich legacy spanning nearly three centuries, firmly establishing its position as a trusted and well-capitalized wealth manager in the market. The acquisition is seen not only as a financial opportunity but also as a strategic alliance to fortify ING's foothold in the private banking sector.
Statements from ING Leadership
Reflecting on the acquisition, ING CEO Steven van Rijswijk shared insight into the company's vision. He emphasized the profitable and esteemed nature of Van Lanschot Kempen, noting its robust performance and strategic direction. By pursuing this acquisition, ING aims to bolster its private banking and wealth management divisions, demonstrating a clear commitment to long-term investment in this sector.
Details of the Acquisition Agreement
The acquisition agreement specifies that ING has directly acquired a 7.2% stake, which raises its total share in Van Lanschot Kempen to 9.9%. However, the completion of the entire transaction remains pending regulatory approvals. ING maintains that the impact of this acquisition on its CET1 ratio will be minimal, showcasing the strategic financial planning behind this significant investment.
ING’s Commitment to Sustainability
In addition to expanding its financial portfolio, ING also places great importance on sustainability within its operations. The bank's ongoing commitment to tackle ESG (Environmental, Social, Governance) criteria has been recognized through its strong ratings from various independent assessments. ING’s recent ESG rating by MSCI of 'AA' for five consecutive years underscores its dedication to sustainable business practices.
Contacting ING for More Information
For any press inquiries, you can reach out to Raymond Vermeulen at ING. He can be contacted at +31 20 576 6369 or via email for any further investor-related inquiries. ING actively encourages open communication and transparency for stakeholders interested in following its latest developments.
Frequently Asked Questions
What is the significance of the acquisition for ING?
The acquisition allows ING to bolster its position in private banking and wealth management, demonstrating its commitment to growth in these sectors.
How much of the stake has ING acquired in Van Lanschot Kempen?
ING has acquired a total of a 17.6% stake, enhancing its total ownership to 20.3% in Van Lanschot Kempen.
What does the future hold for ING post-acquisition?
This move signifies ING's focus on strategic investments that increase its market share in wealth management and enhance its long-term financial stability.
How does ING approach sustainability?
ING places sustainability at the core of its operations and was recognized with an 'AA' ESG rating from MSCI, reflecting its commitment to responsible banking.
Who can be contacted for more information regarding this acquisition?
Press inquiries can be directed to Raymond Vermeulen at ING via phone or email for further details about the acquisition.
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