• Fri. Sep 24th, 2021

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ING Recovers Almost All Customers Lost In Spain Due To Collection Of Commissions

BySam Brad

Aug 6, 2021

ING recovers almost all customers lost in Spain due to the collection of commissions. Only 4,000 users are left after the acquisition of the second quarter. Boost payroll accounts and investment funds.

ING has recovered almost all the clients that it lost in March due to the beginning of the collection of commissions . According to the data provided, the entity currently has 4.164 million users in our country, that is, about 4,000 less than at the beginning of this year and 36,000 more than at the end of the first quarter.

The orange bank began to apply a commission in April of 10 euros per month to clients without links from balances exceeding 30,000 since then, a measure that affected 4% of its user base.

From ING they explained that 50% of the leak occurred due to this change in their pricing policy, while another part corresponded to the group of clients with very little activity (less than 100 euros) who have decided to cancel the account motivated, why no, for the information on the charge, even though the charge did not affect them.

The remaining users who have unsubscribed are due, according to sources from the entity, to the updating of data that the sector has been forced to do and that, due to lack of them, have ceased to be counted.

The recovery has allowed the balance of deposits it manages to have advanced somewhat in the second quarter, although users have not yet replenished the entire amount due to the withdrawal of deposits due to the penalty. Specifically, it has superimposed 430 million of the 1,300 million lost.

ING’s strategy now goes through a greater link through payroll accounts . It is experiencing new growth, with more than 67,000 clients, reaching 2.67 million.

ING recovers almost all customers lost in Spain due to the collection of commissions. Only 4,000 users are left after the acquisition of the second quarter. Boost payroll accounts and investment funds.

In addition, it is focused on boosting investment fund activity, which, according to ING, has recorded the best result in its history, with inflows of 540 million in the first six months of the year. This has allowed the bank to increase the products under management in our country by 24%, to 13,880 million.

For its part, the wholesale banking division continued with a high volume of activity, highlights in a statement. Among other operations, ING has refinanced the acquisition of the Montepino logistics asset platform, the largest underwriting carried out in the Spanish logistics sector; It has participated in the refinancing of two Cubico solar projects; and in the financing of Acciona EnergĂ­a before going public.

Sam Brad

The Great Writer and The Passionate Poet As Well, He Graduated from University Of Florida in Journalism and Brad have around 12 years of experience in news and media section.

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