ING Direct 2006 Annual Report Download - page 5

2006
2005
Underlying profit before tax
Wholesale Banking
in EUR million
2,525
2,299
2006
2005
Underlying profit before tax
Retail Banking
in EUR million
1,932
1,815
2006
2005
Underlying profit before tax
ING Direct
in EUR million
717
617
Wholesale Banking
Conducts global wholesale banking operations. The primary focus is on the Netherlands
and Belgium, where we offer a full range of products to companies and other
institutions. Elsewhere we take a more selective approach with regard to our clients
and products. Wholesale Banking also manages ING Real Estate, the world’s largest
real estate investment manager based on the value of its assets under management.
Retail Banking
Offers retail banking services in the mature markets of the Netherlands and
Belgium, and in the developing markets of Poland, Romania, India and China.
Private banking is offered in the Netherlands, Belgium, Luxembourg, Switzerland
and various countries in Asia, Latin America and Central and Eastern Europe.
ING Direct
Operates direct retail banking activities for customers in Australia, Canada,
France, Germany and Austria, Italy, Spain, the United Kingdom and the United
States. The main products offered are savings accounts and mortgages.
Our strategy
ING’s overall ambition is to create value
for its shareholders: to give them a higher
total return than the average of that of
our peers over the longer term. To achieve
that, we steer our business towards value
creation through growth and return and
aim to keep improving the execution of our
business fundamentals. We want to excel
at what we do and focus on delivering
outstanding service to our customers
and on fi rmly managing costs, risks and
reputation. We invest in growth, and to
this end ensure we are in businesses and
markets with good long-term growth
potential. Retirement services,
ING Direct and our life insurance activities
in developing markets are all good
examples of this. In many cases we are also
able to outgrow the competition in mature
markets by focusing on selective product
and client segments.
Our stakeholders
ING conducts business on the basis
of clearly defi ned business principles.
In all our activities, we carefully weigh
the interests of our various stakeholders:
customers, shareholders, employees,
business partners and society at large.
ING strives to be a good corporate citizen.
Our corporate responsibility
ING wants to pursue profi t on the basis
of sound business ethics and respect for
its stakeholders. Corporate responsibility
is therefore a fundamental part of ING’s
strategy: ethical, social and environmental
factors play an integral role in our
business decisions.
ING Group Annual Review 2006 3