ING Direct 2004 Annual Report Download - page 9

ING Group Annual Report 2004 7
We have also sharpened our focus on execution. In what we
do, we want to excel. We want to offer exemplary customer
service, generate profitable top-line growth, and pursue strict
cost control, all underpinned by solid risk management to
reduce the need for capital. Disciplined performance in these
areas ultimately generates strong bottom-line results.
ING will continue to seek growth in mature markets where
we already have a long-standing presence, for example the
Benelux countries and the United States. Furthermore, we
have good businesses with clear growth potential. The first
is ING Direct. The second is pension products and services.
The third is life insurance business in developing markets.
In pursuing this strategy, we want to add value for all our
stakeholders. Our customers entrust us with their savings and
pensions, and therefore put a large part of their financial
future in our hands. This is reflected in our adapted mission
statement, which reads as follows: ‘To set the standard in
helping our customers manage their financial future’. Our
shareholders provide us with the capital we need to grow.
For this reason, total shareholder return is at the heart of
our value-creating strategy. Our employees are crucial to
our ability to deliver on our promises. That is why we want to
be an attractive and competitive place to work with a distinct
performance-related culture. For our business partners ING
wants to be a reliable counterpart. And finally, society at
large: in accordance with our ethical standards and business
principles we are committed to be a responsible corporate
citizen in the countries where we do business.
You can be assured that the Executive Board will implement
this new strategic direction with focus, determination and
leadership. Leadership is a permanent combination of vision
and execution, professionalism and common sense, and
determination and flexibility. Above all, leadership requires
empathy for and management through people. ING derives
great strength from the rich diversity of its 113,000 staff
worldwide. I fully recognise the importance of talent
management for the success of our company. For that
reason I decided to assume responsibility for Human
Resources within the Executive Board. I also took on
the Corporate Communication portfolio, since open
communication with our stakeholders is crucial in an
environment of constant change. We genuinely hope this
Annual Report matches your expectations in this respect.
In this report you will find an overview of the financial and
strategic developments of ING Group and its business lines.
Each of our six business lines contributed to ING’s good overall
result in 2004. For this accomplishment the Executive Board
would like to thank the ING staff. Their daily dedication is the
cornerstone of the company’s success.
We are confident that the foundations for future profitable
growth are in place. ING started 2005 in good shape with a
streamlined and entrepreneurial organisation, a good business
mix and strong leadership. This forms a solid base for meeting
the challenge of exploiting ING’s growth opportunities.
Michel Tilmant
Chairman Executive Board