ING to Exit Retail Banking Market in France
21 Dezember 2021 - 1:16PM
Dow Jones News
By Sabela Ojea
ING Groep NV said Tuesday that it will leave its retail banking
business in France following the outcome of the strategic review
announced in June.
The Dutch bank said it aims to focus on its business portfolio,
and noted that 460 employees will be affected by the closure.
A social plan for the employees has been agreed on with local
unions, it said, adding that it will be subject to approval of the
French Ministry of Labour.
"We have decided to exit the French retail market, sharpening
the focus of our business portfolio on where we can better scale,"
said Aris Bogdaneris, member of the management board banking and
head of retail banking and challengers and growth markets at ING
Group.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
December 21, 2021 07:01 ET (12:01 GMT)
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