Barclays boss Jenkins bags ING Direct in online deal
Wednesday 10 October 2012
Barclays has snapped up the online bank ING Direct UK in the first deal struck under its new chief executive Antony Jenkins.
ING was ordered to sell off several businesses under European state aid rules and put its UK online arm up for sale in August. It has 1.5 million customers and employs 750 people, who will transfer to Barclays.
The bank, once highly competitive in its savings rates, has £10.9bn of savers' deposits and a mortgage book of £5.6bn.
ING said that it will book a loss of €260m (£212m) on the sale to Barclays, which in effect means it is paying the British bank £168m in order to take the business off its hands.
Barclays said ING customers would "enjoy at least equivalent terms and conditions" as their current ING ones.
Children's bookseller wins The Independent's new author search
Board creates magnetic field to achieve lift
- 1 Salisbury ranked seventh-best city in the world to visit in Lonely Planet’s Best in Travel 2015
- 2 Disney announces new female-led film Moana
- 3 Banksy arrest hoax: Internet duped by fake online report claiming artist's identity has been revealed
- 4 Kentucky gang rape: 15-year-old boy left in critical condition after sexual attack by group at party
- 5 Russell Brand threatened with arrest after filming outside Fox News headquarters
Cameron is warned 'no possibility' of UK reducing immigration and that bid to bring in quota on migrant workers would be illegal
Residents should throw a street party and mix with immigrant neighbours, councils told
Russell Brand threatened with arrest after filming outside Fox News headquarters
London bus driver 'kicks gay couple off for kissing'
Jose Manuel Barroso warns David Cameron against making 'historic mistake' over immigration reforms
Worst Airports of 2014: Poll names Islamabad airport in Pakistan worst in the world
iJobs Money & Business
£23000 per annum + pension and 22 days holiday: Ashdown Group: An established ...
£27000 per annum + pension, 22 days holiday: Ashdown Group: An established ind...
£23000 - £26000 Per Annum: Clearwater People Solutions Ltd: Our client is curr...
£25 - 30k: Guru Careers: A Corporate Actions Administrator / Operations Admini...