ING sells private banking businesses.

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  • Additional Information
    • Subject Terms:
      SWITZERLAND; RUSSIA
    • Subject Terms:
      ING Bank NV 877751698 ; OVERSEA-Chinese Banking Corp. Ltd. ; JULIUS Bar Group AG
    • Abstract:
      The article reports on a deal made between ING Retail Banking and Singapore-based Oversea-Chinese Banking Corp. (OCBC) Ltd. under which OCBC has paid 1.46 billion U.S. dollars for ING's Asian private banking business and Julius Baer Group Ltd. has bought Switzerland-based ING Bank NV for 505 million U.S. dollars. It mentions that the acquisition will help Julius Baer to increase its business volume in Central and Eastern Europe, Russia and other growth markets.