ING to Withdraw from French Retail Banking Market

ING, a global financial institution with a strong European base, announced its intention to withdraw from the retail banking market in France.

However, ING will remain active in this country as a provider of wholesale banking products and services, with a focus on strengthening its position and the ambition to be the go-to-bank for sustainable finance.

The company launched ING France in 2000 as an online bank. It currently serves around 1 million customers and provides current accounts, mortgages, consumer lending and investment products. The French branch has around 700 staffs, with 460 people working in retail banking.

ING is currently in discussions with third parties as it explores "the feasibility of an agreement for its client portfolio".

"We continuously evaluate our activities, including assessing whether they are likely to achieve the preferred scale in their market within a reasonable time frame. In this context we have decided to exit the French retail market, sharpening the focus of our business portfolio on where we can better scale," said Aris Bogdaneris, member of the Management Board Banking, head of Retail Banking and Challengers & Growth Markets.

As Fazzaco previously reported, ​ING has announced its decision to withdraw from the retail banking market in the Czech Republic​ by the end of 2021.