Financial Services Industry
Industry: Email Alert RSS FeedING takes control of online bank DiBa.
Financial News, July, 2003
ING on Thursday continued its aggressive online banking expansion by taking full ownership of telephone and internet bank DiBa, Germany's fastest-growing retail bank.The Netherlands' largest financial institution bought the 30% of DiBa it did not already own from BGAG, a German trades union investment company. Financial details were not disclosed.
The move further strengthens ING's position in Europe's most competitive banking market, where DiBa is pushing Germany's commercial banks hard for retail market share. It has claimed to be adding 7,000 customers a day.
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