The large Dutch bank ING has announced its intention to take the role of buyer in major cross-border bank mergers. Speaking to Handelsblatt, ING CEO Steven van Rijswijk stated that there are currently only a handful of options for such transactions across Europe. He emphasized that when the opportunity arises, the bank wants to be the acquiring party, not the target, adding, “I want to be master of my own destiny.”
Van Rijswijk explained that banks are now in a stronger financial position following the crisis and the negative interest rate period, making them more willing to pursue acquisitions. He noted that scale is beneficial not only for acquisitions but also for investments in digitalization, artificial intelligence (AI), and enhancing the customer experience. According to the CEO, a bank that develops a new product once and can then roll it out across all its markets is more efficient and faster. Furthermore, he pointed out that as banks increasingly rely on new technologies, the advantages of cross-border mergers grow even stronger.
ING has recently completed two mid-sized acquisitions in Poland and Spain and is also looking at potential purchases within Germany. Regarding its active markets, Van Rijswijk highlighted wealth management as an attractive segment because the bank aims to expand its presence in the premium private client sector. He added that the distribution of investment products, as well as business with freelancers and SMEs (small and medium-sized enterprises), are also relevant areas of focus. While ING is already well-established among private clients and internationally operating corporations in Germany, the bank currently does not have a strong foothold in the broader middle market.
