ING Wholesale Banking

1
ING Wholesale Banking

• Standard presentation

February 2008
2
ING Wholesale Banking

• ING Group profile

3
ING Group

• ING is a global financial services company with a
  wide array of banking,
• insurance and asset management services in over
  50 countries.
• ING serves a broad customer base, which includes
  individuals, families,
• small and medium-sized businesses, large
  corporations, institutions and
• governments.
• ING has more than 75 million customers around the
  world.

4
ING Group history
Acquisitions

• A global leader in banking, insurance and asset
  management

Formed by merger of Nationale Nederlanden and
NMB Postbank
2007
1989
1991
1995
1998
1999
2000
2001
2002
2003
2005
2008
ING GroupA global financial institution
Acquired a strategic 30 stake in Thailands TMB
Bank Extending INGs footprint in the fast
growing Asian market. Also acquired 100
sharesof Turkish Oyak Bank
Acquired CharterhouseA leading institutional
agency of stockbrokers in the UK Also acquired
Aetna and Reliastarto become a leading insurer
in the Americas and Asia
Acquired 19.9 in Bank of Beijing2nd largest
city commercial bank in China and 3rd largest
bank in Beijing
NMB Postbank Global commercial bank
Acquired Barings plcCreating a leading global
investment bank
Acquired Banque Brussels LambertCreating the
largest commercial bank in the Benelux
Acquired BHF-BankOne of the largest
publicly-traded German commercial banks
Acquired Bank SlaskiCreating the largest
foreign commercial bank in Poland
Acquired full ownership of Allgemeine Deutsche
Direktbank AG
Increase of stake in Vysya Bank to 43.99
Merged with Nationale NederlandenLeading global
insurance company
5
ING Pedigree
6
A well-positioned global financial services
company
Banking - Insurance - Asset Management
Global rankings The worlds largest direct
bank The worlds biggest portfolio of real estate
investments 81 on Interbrand top-100
Europe Leading financial services company in
Belgium and Netherlands Market leader in direct
banking in France, Germany, Italy, Spain and the
UK Market leader in life pensions combined in
CE
The Americas Top-10 provider of
retirement services 2 pension provider in
Latin America 1 non-life insurer in Canada
About 125,000 employees in over 50 countries
7
ING - organised in 6 business lines
ING Group 2007 year figures
Total assets EUR 1,313bn Shareholders equity
EUR 37bn Assets under management EUR 637bn 2007
underlying net profit EUR 9,241m Ratings Aa2/AA-
Source ING Group 2007 figures, Published
February 2008
8
ING Group - key figures over the past five years
2007 2006 2005 2004 2003
Income (in EUR million) 76,587 73,621 71,120 68,171 64,736
Underlying net profit (in EUR million) 9,241 7,750 6,234 4,959 4,053
Earnings per share 4.32 3.57 3.32 2.71 2.00
Total assets (in EUR billion) 1,313 1,226 1,159 964 779
ING Group debt/equity ratio 9.5 9.0 9.4 10.2 14.4
Bank Tier-1 ratio 7.39 7.63 7.32 6.92 7.59
Assets under management (in EUR billion) 637 600 547 492 463
9
A track record of profitable growth
10
Profit distribution
Profit loss account (underlying) In EUR million Profit loss account (underlying) In EUR million Profit loss account (underlying) In EUR million Profit loss account (underlying) In EUR million
4Q 2007 4Q 2006 Change
Insurance 1,819 1,331 37
Europe 358 632 -43
Americas 453 539 -16
Asia / Pacific 113 140 -19
Corporate Line Insurance 896 20
Banking 1,151 1,148
Wholesale Banking 591 546 8
Retail Banking 442 444 -1
ING Direct 73 172 -58
Corporate Line Banking 45 -14
Total ING Group 2,970 2,479 20
11
Dividend increase reflects strong capital base
and confidence in the future
12
Top 20 global financial institutions
13
INGs credit ratings
14
Fortune Global 5002007
The Fortune Global 500 is a ranking of the top
500 corporations worldwide as measured by
revenue. The list is compiled and published
annually by Fortune magazine.
15
Forbes Global 2000
Forbes biggest most powerful companies (April
2007)
Footnotes and methodology The Forbes 2000 is a
comprehensive list of the worlds biggest and
most powerful companies, as measured by a
composite ranking for sales, profits, assets, and
market value. All figures are in US dollars and
are latest available.
16
Sharpening the focus to banking, investments,
life insurance and retirement services
17
ING has the scale and the expertise to provide
clients with the right products at the right time
Pensions/Retirement
Mutual funds investments
Current accounts
Savings deposits
Mortgages lending
Life insurance
Annuities

• ING offers customers the full range of products
  needed throughout their lifecycle
• ING has scale in each product category
• ING has a trusted brand that applies across all
  products

INGs strengths
18
Responsible corporate citizen
ING wants to pursue profit on the basis of
Sound business ethics Respect for its key stakeholders Full compliance with laws, regulations and ethical standards
ING Business Principles
We are committed to our integrity We aim for an above average return We are open and clear We promote sustainable development and respect human rights We respect each other We are involved in the communities we operate in

19
Main heading (blue)

• Our business

20
Wholesale Banking
Relationship, Products Services and Financial
Markets - based in the Netherlands, Belgium and
main financial centres

• Full service focus clients in the Netherlands and
  Belgium
• Selected product range for international clients
• Top deals underscore INGs wide geographical
  reach
• Includes ING Real Estate, largest real estate
  investment manager worldwide

21
Wholesale Banking profile
ING Wholesale Banking (WB) is the Corporate
Banking division of ING Group and focuses on
providing high-value-added products and services
to its medium/large business clients. ING WB
offers a full range of products to corporates and
institutions in the Benelux countries. Elsewhere
in the world we operate with a limited core
product service. ING Real Estate, part of
Wholesale Banking, is the worlds largest real
estate asset manager, active across the Real
Estate value chain Development, Finance and
Asset Management.
22
Wholesale Banking An important cash generator
for ING Group
Horizon 3
Horizon 2
Horizon 1
Invest in future growth
Transform current growth engines into
sustainable core businesses
Grow by managing established businesses
efficiently

• Future growth
• China
• India
• Romania
• Russia

• 3 main growth engines
• ING Direct
• Life insurance developing markets
• Retirement Services

• Cash generators
• Wholesale Banking
• Retail Banking Benelux
• Insurance mature markets

Selective product plays e.g. Mortgages, ING Real
Estate, SPVAs, Private Banking
Commit capital
Re-deploy capital
Generate capital
23
Wholesale Banking 4Q results
Earnings resilient despite market turmoil

4Q 07 4Q 06 change
Total income 1,470 1,526 -3.7
Operating expenses 955 960 -0.5
Additions to loan loss provisions -77 20
Profit before tax 407 527 -23.8
Profit loss account (underlying) (in EUR Mio)
Underlying profit before tax Wholesale Banking
(in EUR million)

• Impact of subprime-related issues limited to
  EUR 106 million
• Profit up 8.2, supported by significant
  release of loan loss provisions
• New initiatives to accelerate growth and
  improve efficiency

3,000
2,525
2,399
2,299
2,500
2,000
1,500
1,000
500
0
-500
2005
2006
2007
Note The 2007 financial results contain the
mid-corporate client business, which was
transferred to Retail Banking on 1 January 2008
and represents about 13 of Wholesale Bankings
profit
Source ING Group Analyst presentation 4Q 08
results, 20 February 2008
24
Wholesale Banking organisation (as at 1st of
January 2008)
WB Products
Financial Markets
WB Network
WB Clients
WB Clients
25
Wholesale Banking Clients - Profile

• Wholesale Banking Clients manages and builds
  relationships with clients ranging from corporate
  companies in our Benelux home markets to large
  corporates, institutions and governments
  worldwide.
• We are a committed partner to our clients and
  strive constantly to help them overcome the
  challenges they face.
• Our consistent and uniform client coverage model
  supported by a sector-based client approach
  enables us to offer our clients the financial
  solutions they need for success. At the same
  time, this differentiates us more and more
  clearly from our closest competitors.

26
Wholesale Banking Clients
27
Wholesale Banking Clients - Our Approach

• Your needs are at the heart of everything we do.
  It is a promise which we call client
  centricity.
• We deliver on this promise by combining
  industry-leading knowledge and expertise with
  the ability to execute deals flawlessly.
• Your team of banking and finance experts is
  headed up by a senior relationship manager, who
  is always available as your first point of
  contact. The senior relationship manager is
  backed up by a team of international industry
  and product specialists. This team works closely
  in partnership with you to understand and
  anticipate your particular banking needs,
  acting as a trusted business partner. With deep
  sector and banking expertise, the team is able
  to provide the solutions that best meet your
  needs.
• We can serve your needs in more than 40
  countries around the world, due to our
  international scope and local strength.

28
Client Coverage Model

• At ING Wholesale Banking every client has a
  dedicated relationship manager who manages your
  banking services with the help of a full team of
  industry and product specialists. This consistent
  client coverage model enables us to offer our
  clients the financial solutions they need for
  success.
• Multinational clients are assigned a team
  consisting of a number of local relationship
  managers - one for each major region in which
  they operate - reporting to one senior banker who
  manages and coordinates their activities.

29
Industry focus

• ING Wholesale Banking knows every industry is
  different, with its own needs, trends and
  opportunities. Thats why we always work to
  ensure we have in-depth knowledge of the
  industries in which our clients work, enabling us
  to provide tailored solutions that meet our
  clients specific needs. Some of the key sectors
  in which ING has dedicated team expertise
  include
• Consumer goods
• IT services
• Natural resources
• Telecoms
• Transport logistics
• Utilities - Power

30
ING Wholesale Bankings international presence
Operating in 38 countries with 18,000 employees
world-wide
Europe Austria Belgium Bulgaria Czech
Republic France Germany Hungary Ireland Italy Kaza
khstan Luxembourg Netherlands Poland Portugal Rom
ania Russia Slovak Republic Spain Switzerland Ukra
ine United Kingdom
Americas Argentina Brazil Chile Mexico USA
Asia China Hong Kong India Indonesia Japan Mala
ysia Philippines Singapore South
Korea Taiwan Thailand
Miscellaneous Dubai
Representative office
31
Wholesale Banking Products
Financial Markets
Corporate Finance Equity Capital Markets
Structured Finance
Leasing, Commercial Finance
Payments Cash Management
Equity Markets
Event Finance
General Lending Products
(WB) Insurance
Securities Services
Corporate Investments
32
Disclaimer
Certain of the statements contained in this
release are statements of future expectations and
other forward-looking statements. These
expectations are based on managements current
views and assumptions and involve known and
unknown risks and uncertainties. Actual results,
performance or events may differ materially from
those in such statements due to, among other
things, (i) general economic conditions, in
particular economic conditions in INGs core
markets, (ii) changes in the availability of, and
costs associated with, sources of liquidity such
as interbank funding, as well as conditions in
the credit markets generally, including changes
in borrower and counterparty creditworthiness,
(iii) the frequency and severity of insured loss
events, (iv) mortality and morbidity levels and
trends, (v) persistency levels, (vi) interest
rate levels, (vii) currency exchange rates,
(viii) general competitive factors, (ix) changes
in laws and regulations, and (x) changes in the
policies of governments and/or regulatory
authorities. ING assumes no obligation to update
any forward-looking information contained in this
document. This presentation is intended for
general information purposes. It does provide
basic information concerning individual Wholesale
Banking products, insurance products or related
services. However none of the information should
be interpreted as an offer to sell securities or
as investment advice of any kind. Queries
concerning these topics should be addressed to
the individual business units and/or companies of
ING Groep N.V. ("ING Group"). No warranty or
representation, express or implied, is given as
to the accuracy or completeness of that
information. In no event will ING Group, nor any
of its directors, employees or advisors accept
any liability with regard to the information
contained in the individual ING companies',
business unit or product group's
presentation. ING Group comprises a broad
spectrum of companies (the "ING companies"), many
of them operating under their own brand names.
Almost every ING company, business unit or
product group, has its own website on the
internet where it offers information about its
products and services. Reference is made to those
websites for further details and hyperlinks have
been provided from this website to those ING
companies, business units and product groups, if
available. It is prohibited to modify, copy,
distribute, transmit, display, publish, sell,
license, create derivative works or use any
content for any other purposes than that of this
presentation, i.e. providing information about
ING Group and its lines of business. No
Liability While ING Group and ING companies use
reasonable efforts to include accurate and
up-to-date information in this presentation,
errors or omissions sometimes occur. ING Group
and ING companies expressly disclaim any
liability, whether in contract, tort, strict
liability or otherwise, for any direct, indirect,
incidental, consequential, punitive or special
damages arising out of or in any way connected
with your access to or use of this presentation,
and/or any other ING companies' presentations
whether or not ING Group and/or ING companies
were aware of the possibility of such damages.
All information in this presentation, including
but not limited to graphics, text and links to
other communication means, is provided "as is"
and is subject to change without prior notice.
Such information is provided, to the fullest
extent permissible pursuant to applicable law,
without warranty of any kind express or implied,
including but not limited to implied warranties
of merchantability, fitness for a particular
purpose, non-infringement from disabling devices.
ING Group does not warrant the adequacy, accuracy
or completeness of any information in this
presentation and expressly disclaim any liability
for errors or omissions therein. Users are
responsible for evaluating the accuracy,
completeness or usefulness of any information or
other content available in this presentation.