ING: exiting retail banking in France

(CercleFinance.com) - Further to its strategic evaluation announced last June, ING announces its decision to leave the retail banking market in France.
This measure will translate to a restructuring provision booked in its results for the fourth quarter of 2021.

A social plan for the 460 affected employees has been agreed on with local unions. In terms of its client portfolio, the Dutch establishment is currently examining the feasibility of reaching an agreement with third parties.

ING France currently serves approximately one million clients, offering current accounts, mortgages, consumer lending and investment products, and employs approximately 700 people, two thirds of which in retail banking.

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