The clients of ING Direct withdrew in May 1.200 millions, after the Afinsa scandal
To come was seen, but now we have the information: 1.200 millions. That explains the opening of "physical" offices of ING, to keep on receiving investment clients, since to ask for a mortgage, it seems that the solvency of the bank does not matter for us so much.
The curious thing is that mientra ING lost clients, another bank Online (Openbank endorsed by the BSCH) increased the shares of his funds in 100 millions.
I happen to give the news:
The judicial intervention of Afinsa and Philatelic Forum last May 9 spent invoice to ING Direct, who lived through the worst month of his history. The clients of the bank withdrew from the entity in the above mentioned month 1.200 million euros, almost 10 % of the entire portfolio, in accordance with the balances published yesterday by the Spanish Association of Banking (AEB). The clients' deposits went on from April until May from 13.819 million euros to 12.613 millions, as a result of the panic created between the citizens in all those investments which remuneration was over the average of the market. A big number of thifty persons began suspecting of the interests that he was paying the on-line banking for the deposits and they chose to turn his savings away towards the traditional systems. This circumstance joined some rumors that arose on the financial market about the viability of the financial institution in Spain, what was translated, according to Efe, in the loss of half of the money received in the twelve previous months.
Change of strategy. ING has always insisted that his activity nothing has to do with that of the philatelic societies and has remembered that his operative one is subject to the supervision of the Spanish Bank and to the regulation that governs the performance of the financial institutions. The deposits are safeguarded in this case by the Fund of Guarantee of Deposits of Holland, from which there is original the house counterfoil of the bank. In the last dates, ING has initiated a strong advertizing campaign in the one that emphasizes the group size in the world. ING is the fourth bank group of Europe for benefits and the sixth one for stock-exchange capitalization. It operates in 40 countries and has more than 60 million clients. The scandal of the stamps has forced ING to change his strategy with the opening of big divisions in the principal Spanish cities in order to advise the thifty persons.
Written by Carlos Lopez on July 27, 2006 with 8 comments.
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# 1, LUCANERO
Since it is a sorrow, because ING was the financial institution first in offering just profitability, without thefts in commissions and finishing with the party that there had mounted the rest of financial institutions, which not only were not giving you a five-peseta coin for your savings but above if you were careless they were taking it from you.
The rumors have not been created in the street, other financial institutions have created them of interested form and like test, the call that I received from my sister-in-law saying that it should extract the ING money because they had said to him in his financial institution that one was a pyramidal swindle as that of Forun. It is necessary to be much a scoundrel so that a person who is employed at a financial institution to which certain financial culture is presupposed and knowledge of the competition spreads a rumor knowing that it is false, and quite so that my sister-in-law was opening with them the deposit and was not doing it with ING.
Since that that olé for ING I hope recovers soon the clients, and keeps on forcing to the rest of sausages, to usurers stop receiving commissions and to offer more just profitabilities.