ING Australia's Sydney headquarters from March 2001 to February 2017
Company type
Subsidiary
Industry
Banking, financial services
Founded
1999
Headquarters
60 Margaret Street, Sydney, Australia
Area served
Australia
Key people
Melanie Evans, CEO
Products
Finance and insurance Consumer banking Corporate banking Superannuation Mortgages
Revenue
A$693 million (2016)[1]
Net income
A$295 million (2016)[1]
Total assets
A$53.4 billion (2016)[1]
Total equity
A$3.7 billion (2016)[1]
Number of employees
1,130 (December 2016)[1]
Parent
ING Group
Divisions
Mortgages, Savings, Personal loans[1]
Website
www.ing.com.au
ING Bank (Australia) Limited (trading as ING since 2017, and as ING DIRECT 1999–2017) is a direct bank operating in Australia. It is a wholly owned subsidiary of the multinational Dutch bank, ING Group. ING in Australia holds an Australian banking licence as a foreign subsidiary company.[2]
ING operates through a number of controlled entities: trusts and the primary bank division, ING, which operates under the segments of Mortgages, Savings, Everyday Banking, Consumer Lending, Superannuation, Insurance, Wholesale Banking and Commercial Lending.[1]
Founded in 1999, ING in Australia was Australia's first direct bank. It has since grown to become the largest mortgage lender outside of Australia's Big Four banks.[3] ING scores favourably with customer satisfaction and has the highest net promoter score of any major financial institution in Australia.[4][5]
As of December 2023, the bank had over 2.8 million customers. In December 2015, ING had a mortgage portfolio valued at AU$38.6 billion and AU$1.6 billion super funds under management, with 34,000 active superannuation retirement accounts in 2014.[6]
As of December 2020, ING had a loan portfolio of $65.2b and deposits of $46.6b. Total customers had grown to 2.8m.
^ abcdefg"2016 Annual Report ING Australia" (PDF). March 2017. Retrieved 18 March 2017.
^"List of Authorised Deposit-taking Institutions". Australian Prudential Regulation Authority (APRA). Australian Government. 8 May 2015. Archived from the original on 30 July 2014. Retrieved 12 May 2015.
^Varughese, Ansa (22 February 2015). "ING Group Selling $2 Billion in Mortgage Bonds from ING Australia Bank, Australia's Fifth Largest Mortgage Lender". Realty Today. Retrieved 11 May 2015.
^"Australians more likely to recommend ING than other banks". PR Wire. Retrieved 11 May 2015.
^"ING Direct tops customer satisfaction ratings". InfoChoice. Info Choice Pty Ltd. 1 September 2009. Retrieved 11 May 2015.
^Drummond, Shaun (31 March 2016). "ING in Australia full-year profit rises 6pc on new customers". Sydney Morning Herald. Fairfax Media. Retrieved 1 April 2016.
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Global Information
A$693 million (2016)[1]
A$295 million (2016)[1]