ING to Divest ING Direct USA

As part of an agreement with the European Commission announced today by ING to separate its banking and insurance operations, ING announced that it plans to divest itself of its ING Direct USA operation by 2013. ING said that it "regards the operation as a very strong franchise and the US market offers potential for growth. It is anticipated that a divestment will take several years and will not be completed before the end of 2013. In the meantime, ING will ensure that it continues to grow the value of the business and offer a superior customer experience."