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ING Group: ING invests in Hong Kong fintech WeLab

ING today announced it has invested in Hong Kong fintechWeLab. WeLab provides
consumer loans in China and Hong Kong in a fully automated process that takes
minutes from application to approval. The investment is in line with ING's
strategic priority to increase the pace of innovation to serve changing
customer needs by working with both dedicated internal teams and with
external partners and startups.

The investment announced today follows theequity stake ING had takenin US
based fintech, Kabbage, a leading platform powering automated lending to
small and medium enterprises (SMEs). ING made this public on 14 October 2015.
On 21 October, the two companies announced a partnership and thestart of a
pilot in Spain. In September 2015, ING also announced that it hadtaken over
Qustomer, a digital loyalty platform in Belgium to benefit from the natural
fit between loyalty and mobile payments.

"The stake we have taken in WeLab and the other investments prove that we are
determined to transform banking to further improve the customer experience.
We will look at the possibilities of starting a partnership with WeLab in ING
markets," said Ralph Hamers, CEO of ING.

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| Press enquiries Investor enquiries |
| Diederik Heinink ING Group Investor Relations |
|+31 20 576 2847 +31 20 576 6396 |
| diederik.heinink@ing.com Investor.Relations@ing.com |
| |
| ING Profile |
| |
| |
|ING is a global financial institution with a strong European base, offering |
|banking services through its operating company ING Bank and holding a |
|significant stake in the listed insurer NN Group NV. The purpose of ING Bank |
|is empowering people to stay a step ahead in life and in business. ING Bank's |
|more than 52,000 employees offer retail and commercial banking services to |
|customers in over 40 countries. |
| |
|ING Group shares are listed (in the form of depositary receipts) on the |
|exchanges of Amsterdam (INGA NA, ING.AS), Brussels and on the New York Stock |
|Exchange (ADRs: ING US, ING.N). |
| |
|Sustainability forms an integral part of ING's corporate strategy, which is |
|evidenced by ING Group shares being included in the FTSE4Good index and in |
|the Dow Jones Sustainability Index (Europe and World) where ING is among the |
|leaders in the Banks industry group. |
| Important legal information |
| |
| |
|Certain of the statements contained in this document are not historical facts, |
|including, without limitation, certain statements made of future expectations |
|and other forward-looking statements that are based on management's current |
|views and assumptions and involve known and unknown risks and uncertainties |
|that could cause actual results, performance or events to differ materially |
|from those expressed or implied in such statements. Actual results, |
|performance or events may differ materially from those in such statements due |
|to, without limitation: (1) changes in general economic conditions, in |
|particular economic conditions in ING's core markets, (2) changes in |
|performance of financial markets, including developing markets, (3) |
|consequences of a potential (partial) break-up of the euro, (4) ING's |
|implementation of the restructuring plan as agreed with the European |
|Commission, (5) changes in the availability of, and costs associated with, |
|sources of liquidity such as interbank funding, as well as conditions in the |
|credit markets generally, including changes in borrower and counterparty |
|creditworthiness, (6) the frequency and severity of insured loss events, (7) |
|changes affecting mortality and morbidity levels and trends, (8) changes |
|affecting persistency levels, (9) changes affecting interest rate levels, |
|(10) changes affecting currency exchange rates, (11) changes in investor, |
|customer and policyholder behaviour, (12) changes in general competitive |
|factors, (13) changes in laws and regulations, (14) changes in the policies |
|of governments and/or regulatory authorities, (15) conclusions with regard to |
|purchase accounting assumptions and methodologies, (16) changes in ownership |
|that could affect the future availability to us of net operating loss, net |
|capital and built-in loss carry forwards, (17) changes in credit-ratings, |
|(18) ING's ability to achieve projected operational synergies and (19) the |
|other risks and uncertainties detailed in the risk factors section contained |
|in the most recent annual report of ING Groep N.V. |
| |
|Any forward-looking statements made by or on behalf of ING speak only as of |
|the date they are made, and, ING assumes no obligation to publicly update or |
|revise any forward-looking statements, whether as a result of new information |
|or for any other reason. This document does not constitute an offer to sell, |
|or a solicitation of an offer to buy, any securities. |

pdf version of press release


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: ING Group via Globenewswire


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