Is ING Poised to See a Recovery?
T = Trends for a Stock’s Movement
ING is a global financial institution offering banking, investments, life insurance, and retirement services to meet the needs of the customers. The company’s segments include banking and insurance. It provides savings accounts, mortgage loans, consumer loans, credit card services, and investment products as well as current account services, payments systems, life and non-life insurance products, asset management products and services, and mortgage products. ING also offers commercial banking products and services, including lending products, payments and cash management, treasury and foreign exchange products, specialized and trade finance, corporate finance, mergers and acquisitions, and debt and equity capital markets advice.
ING has sold its South Korean life insurance unit to MBK Partners Ltd. for $1.7 billion. ING is being forced to sell its international operations by European regulators after it received bailout money during the financial crisis. The operation will keep the ING name for at least five years and ING gets a 10 percent indirect stake in the company.