ING Direct 2011 Annual Report Download - page 7

with us. We use this feedback to refine our processes
and to develop products that better serve them. Online
social networks are an increasingly important link in
communications with our customers.
We have continued to invest in our distribution network
to make the services we provide to our corporate and
retail customers as easy to use as possible and to allow
our customers to choose when and how they do
business with us.
I would also like to thank our loyal shareholder base,
a large part of which has stayed with us as we’ve gone
through our restructuring. We intend to resume dividend
payments when all remaining state aid has been repaid
and Basel III requirements have been met.
Positive changes
Sustainability is an important pillar of our strategy.
Asaglobal financial services provider, we have
animpact on all economic sectors. We see it as
ourresponsibility to use our influence to establish
positivesocial and environmental change. For example,
wework closely with our customers to develop and
promote new and sustainable products and services.
We are not only involved in development but we
also finance and investin sustainable products and
projects.We adhereto environmental, ethical
andsocial principles when investing for our
customersandourselves.
Other examples include sharing knowledge by
organising seminars for specific customer groups
orbypublishing research to inform customers
aboutrelevant developments and to alert them to
opportunities. Anexample of this is the ‘Renewable
energy in the Netherlands until 2020’ report. We also
run global financial education programmes to provide
customers and others with a greater understanding and
control oftheir finances. Our ING Chances for Children
programme, which we run jointly with UNICEF, helps
children all over the world to access education and
encourages independence. You can find out more
about this in the ‘Sustainability’ chapter.
Active dialogue
In 2011, the financial sector was once again a very
regular topic of debate. Criticism was directed largely
at the complexity of banks and their role in society.
A fundamental review of the financial system and
thebanks’ business model is the main focus. We are
seeking a dialogue with our stakeholders and are open
to their views about our role as a financial institution.
We have already carried out major changes, including
simplifying our business model, products and services
and in the area of remuneration. These fundamental
changes take time, but we remain committed to them.
Continuing to shape the future
Our focus in 2012 will be on a further completion
oftherestructuring process. In spite of the volatile
marketconditions and very low prices in the market
for financial operations, we will continue to prepare
for the divestment of our insurance/investment
management businesses. The most important priorities
of these businesses are to improve performance and
optimise returns and value. ING Bank will further develop
its strategy to be primarily a Europe-oriented business
with leading domestic banking positions in the home
markets of the Benelux, Germany and Poland, leading
commercial banking positions in the Benelux and Central
and Eastern Europe. Coupled with a number of other
positions inside and outside of Europe this will give ING
Bank interesting growth potential in the long term. One
of our objectives is to have a Return on (IFRS-EU) Equity
of 10–13% under Basel III by 2015.
In 2012, we will make every effort to continue to
delivergood performance. The customer remains
pivotal to our operations. Our focus is also on
continuing to manage and reduce risks and
bolsteringthe capital position.
ING is blessed with good people who are very
committed to ING and its customers. Despite the
heavy workload and the uncertainty that comes with
separation projects, restructuring and divestments,
our people have delivered a remarkable performance
in 2011. It is an honour to be their leader.
The results of our annual employee survey reveal that
our employees feel engaged with ING, even in these
times of major change. That is important because they
play an essential role in our services and in our success.
ING is and remains an important player in the financial
sector, and in 2012 we will shoulder the responsibility
that comes with this role. Together with our
stakeholders, we will continue to do all we can
tofurther shape our future.
Jan Hommen
Chairman of the Executive Board
“ING is and remains
an important player
in the financial sector
and wewill shoulder
the responsibility that
comeswith this role.”
5ING Group Annual Report 2011
Chairman’s message continued
1 Who we are 2 Report of the Executive Board 3 Corporate governance 4 Consolidated annual accounts 5 Parent company annual accounts 6 Other information 7 Additional information