Member Article

Barclays acquire Dutch bank's UK operations

Barclays have agreed to buy ING Direct, following the Dutch company’s decision to move away from retail banking.

The move will see 750 staff transfer to Barclays, and 1.5 million customers. It will give Barclays a deposit book with balances of £10.9bn and a mortgage book with outstanding balances of £5.6bn.The deal is the first for new chief executive Antony Jenkins, as the business will be integrated into the Barclays UK operations.

Ashok Vaswani, Chief Executive of Barclays UK Retail and Business Banking, said: “We will be delighted to welcome ING Direct UK customers to Barclays. We intend to maintain the high standard of service and honour the existing terms and conditions they have experienced with ING Direct UK. The acquisition of ING Direct UK is a good fit with Barclays existing UK retail banking business.”

This was posted in Bdaily's Members' News section by Tom Keighley .