This strategy is bearing fruit since ING has held its position well across the whole of 2015: despite a somewhat moderate economic recovery and in a fast-changing environment, ING Luxembourg has in fact recorded robust earnings of 107.1 million euros, slightly up on the previous year.

At the same time, the Bank has seen its loan volumes increase in 2015 (+17%), confirming its ambition to contribute more every day towards financing the economy. Deposits also show growth, amounting to 11%.

Excellent commercial performance thanks to the three business lines!
In 2015, Retail Banking has continued to improve its foothold on the domestic market.
ING Luxembourg's ambition to be a preferred financial partner in providing support for its local customers in their projects has resulted in a 13% rise in outstanding loans. At the same time, these same customers are increasingly entrusting their holdings to ING, which has enabled the Bank to record a 10% rise in deposits for the year 2015.
With the aim of improving the "customer experience", ING has for example put in place a new Contact Centre and opened a new branch at Belval: in addition to conventional banking services and without any actual cashier's desk, the branch has innovative coaching areas and an independent room devoted to the organisation of customer events, recruitment or training sessions.

Lastly, a new "multi-device" transactional website has been launched, offering a modern and adjustable solution.
In the current difficult context, linked among other things to very low interest rates, which has continued throughout the year, Private Banking is entitled to take pride in its results. Its outstandings are slightly up against 2014 despite a relatively unfavourable environment for the activity.

2015 has also confirmed the transition of Private Banking towards a more demanding customer-base and has continued to transform the business by aligning itself more and more on UHNWI.

ING has also continued to develop dedicated products such as loans (+24%) suited to the specific needs of that customer-base and has used the skills of its management teams in order to offer them investment solutions in a low interest rate environment, not forgetting to provide them with the best possible support for meeting the many regulatory requirements.

Lastly, in 2015, for the third year in succession ING Luxembourg has been rewarded for its expertise. It received the award for “Best Private Bank Luxembourg” from PWM (Personal Wealth Management) – The Banker.
2015 has also been an excellent year for the Wholesale Banking department: this financial period showed an increase in loans granted (+ 18%) as well as in deposits (+ 13%).

The diversity and expertise of the various teams, the strengthening of relations with businesses and institutions in Luxembourg, ING's international network and the improvement of banking services form the basis for ING's positioning as the bank for businesses and institutions.

Several initiatives were started in 2015 in order to improve the service to businesses. The introduction of an "alerting" service is an excellent illustration of ING’s desire to make life easier for businesses and at the same time to be innovative.

ING Luxembourg is also proud to have been elected "Best Corporate Bank – Luxembourg" and "Recognised Leader in Institutional Banking – Luxembourg" at the time of the Finance Awards 2015 organised by "Wealth and Finance International".

Strengthening of local presence, Innovation and CSR
In 2015, ING, as an international bank, has strengthened its support for community life, in terms of voluntary work as well as from a sporting, cultural and human point of view. The bank has continued to assert its presence in the Grand Duchy in 2015: it is an active partner in many events, whether these be cultural, social, or sporting, such as the “ING Night Marathon”, and also at the time of exhibitions at the Villa Vauban or through organisation of the “ING Solidarity Awards”!

CSR (“Corporate Social Responsibility”) remains at the heart of ING’s strategy and values. With a view to continuing its support for local charities, in 2015 the bank launched the 4th edition of its “ING Solidarity Awards” the objective of which was rewarding and supporting Luxembourg’s voluntary sector as a whole.
Being socially responsible does not however restrict ING to the charity sector: initiatives such as the MyMoney.lu blog or ING International Survey reports on savings, loans or even mobile banking demonstrate the Bank's ambition to gain a better understanding of the habits of its co-citizens and also contribute towards their financial education.

Lastly, in terms of innovation, ING was definitely not left on the sidelines in 2015, with a considerable number of initiatives launched internally as well as locally and via the Group of which the bank is part: contribution to ING FinTech Village, launch of crowdfunding or innovation funding within the framework of the InnovFin scheme.

Luc Verbeken, CEO of ING in the Grand Duchy, commented on the financial year 2015 at the press conference announcing its results:
"The excellent performances recorded by ING reflect the efforts of all our staff who have worked extremely hard throughout 2015 in order to develop new products and services and with a view to obtaining ever greater recognition and satisfaction from our customers. We are therefore entitled to be pleased with the progress of our results, bearing in mind that the difficult economic conditions and current environment, particularly in terms of interest rates, are not favourable to the banking business.

While at the same time continuing to benefit from the strike force of the international group to which we belong, our favourable situation has enabled us to continue revitalising all our activities. This can be seen moreover in the significant increase in loans to private individuals and businesses, both locally and internationally.

In 2016 as well as the years to come, ING will continue to do everything in its power to empower people to stay a step ahead in life and in business! "