ING to Transfer Austrian Banking Operations to Bank99
July 13 2021 - 1:32AM
Dow Jones News
By Anthony O. Goriainoff
ING Groep NV said late Monday that it will transfer banking
operations, staff and customers in Austria to Bank99, after
reaching an agreement with the bank of Osterreichische Post, the
Austrian postal services.
The Dutch lender, which will retain its wholesale-banking
activities in Austria, said Bank99 will acquire all retail staff
and assets as well as its approximately 150,000 customers with
current accounts, mortgages or consumer loans.
The company said the process, which is subject to approval by
regulators, is expected to be finalized in the final quarter of
2021.
The company said in March that it was reviewing strategic
options for its retail-banking operations in Austria with the aim
of exiting the market by the end of the year, shortly after making
a similar move in the Czech Republic.
"We are happy that in bank99 we have found a partner that offers
a new home to our Retail customers in Austria. Bank99 is focused on
digital banking and therefore our customers will enjoy easy to use
banking services," the company said.
Write to Anthony O. Goriainoff at
anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
July 13, 2021 01:21 ET (05:21 GMT)
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