ING Direct 2006 Annual Report Download - page 20

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Distribution of loans and advances
in EUR billion
Netherlands 54% 258.0
Belgium 10% 47.7
Rest of Europe 19% 91.2
North America 9% 43.6
Latin America 1% 3.0
Asia 3% 12.6
Australia 4% 18.3
Total 100% 474.4
2006 was another good year for our
banking activities. Underlying profi t before
tax rose 11.4% to EUR 5,072 million.
Demand for mortgages, savings and real
estate benefi ted ING. The environment was
challenging with strong volume growth
largely offset by lower interest rates, a fl at
yield curve and market volatility at historic
lows. ING has adapted to a changing
market, which can be characterised by
increasing customer freedom and the
growing importance of developing markets.
Because consumers increasingly want to
determine their own fi nancial choices, we
have simplifi ed our products, services and
channels. We continue to focus on our
mature markets and our growth markets,
especially in Central Europe and Asia, to
capture future growth. All of our banking
activities contributed to profi t growth.
Wholesale Banking, our biggest contributor,
offers a full range of products to companies
and institutions. Real estate activities
continue to benefi t from a rising market.
In Retail Banking, the focus on customers
and product simplicity are paying off.
Private banking services are growing,
especially in Belgium and Asia. ING Direct,
the world’s leading direct bank, continues
to attract customers in mature markets.
Looking ahead
We believe in the growth potential of
our businesses. We will continue to adapt
products and services and ensure that
our reputation and exemplary customer
service are maintained. We can create
further growth by focusing on our
customers, investing selectively, seeking
out the best business opportunities, and
reducing costs where possible.
Banking
Banking activities achieved good results for
ING. Our focus on clients, value creation and
containing costs has resulted in healthy
profi t growth.
Banking overview
Our performance
continued
In 2006, ING Bank Slaski in Poland won several prestigious advertising and marketing
awards. They were in recognition of both the effectiveness and creativity of its promotional
campaigns for savings accounts and electronic banking. ING’s brand recognition and market
share in Poland has grown substantially, because of these campaigns.
“ I was very drawn to the marketing
campaigns of ING Bank Slaski and the wide
range of products and services it offers me
as a small-business customer.”
Agustin Egurrola, owner, choreographer
and dance teacher at the Egurrola Dance
Studio, Warsaw, Poland.
Award winning
18 ING Group Annual Review 2006