ING said that the divestment, which does not have a material impact on the firm’s results, is part of its earlier announced process to divest ING’s insurance and investment management businesses.
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The process to divest the other insurance and investment management businesses in Asia, including ING’s fund management operations in India, will be on-going, the company said.
The divestment does not impact ING Vysya Bank, a publicly listed Indian bank in which ING has a 44% stake.
Founded in 1991, the company provides banking, investment, life insurance, and retirement services for individuals, families, small businesses, corporations, institutions, and governments worldwide.
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