ING CEO Jan Hommen to speak at Goldman Sachs Conference
Amsterdam, Today, ING CEO Jan Hommen will address the Goldman Sachs European Financials Conference in Madrid, Spain. In his presentation, Mr. Hommen will repeat the progress ING has made through the end of the first quarter in delivering on its previously stated strategic priorities.
In his presentation, Mr. Hommen will review the good progress made in the orderly separation of Banking and Insurance, and reiterate INGís objective of creating strong companies that are able to operate on a standalone basis by the end of this year. Importantly, ING has set clear targets to strengthen the performance of both Banking and Insurance, and INGís first quarter results show encouraging progress in both businesses towards achieving them.
Mr. Hommen will also reiterate that in the current environment with volatile markets and a fragile economic recovery, managing risk and leverage remains an important priority. In this respect, ING reduced its Southern European sovereign debt exposure during the second quarter. ING also continues to steadily reduce its exposure to real estate, including an evaluation of the position of Real Estate Investment Management within the Banking business and a reassessment of Real Estate Development projects that started in the fourth quarter.
Mr. Hommenís presentation can be downloaded at www.ing.com
ING is a global financial institution of Dutch origin offering banking, investments, life insurance and retirement services to over 85 million private, corporate and institutional clients in more than 40 countries. With a diverse workforce of about 107,000 people, ING is dedicated to setting the standard in helping our clients manage their financial future.
Important legal information
Certain of the statements contained herein are statements of future expectations and other forward-looking statements. These expectations are based on managementís current views and assumptions and involve known and unknown risks and uncertainties. Actual results, performance or events may differ materially from those in such statements due to, among other things, (i) general economic conditions, in particular economic conditions in INGís core markets, (ii) performance of financial markets, including developing markets, (iii) the implementation of INGís restructuring plan to separate banking and insurance operations, (iv) 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, (v) the frequency and severity of insured loss events, (vi) mortality and morbidity levels and trends, (vii) persistency levels, (viii) interest rate levels, (ix) currency exchange rates, (x) general competitive factors, (xi) changes in laws and regulations, (xii) changes in the policies of governments and/or regulatory authorities, (xiii) conclusions with regard to purchase accounting assumptions and methodologies, (xiv) changes in ownership that could affect the future availability to us of net operating loss, net capital loss and built-in loss carryforwards, and (xv) INGís ability to achieve projected operational synergies. ING assumes no obligation to update any forward-looking information contained in this document.
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.