ING CFO Sees More Pressure on Savings Margin

The transcript covers ING's quarterly results, including customer growth and financial performance. It discusses ING's regulatory dialogue in Italy and strategic responses to low interest rates, such as diversification and efficiency improvements. The transcript also addresses rumors of cross-border M&A, ING's operations in Turkey, and its involvement in blockchain technology. Additionally, it highlights ING's efforts in anti-money laundering and compliance, emphasizing the importance of maintaining safety and compliance while managing costs.

What was the approximate number of new primary customers added by ING in the recent quarter?

• 400,000

• 300,000

• 500,000

• 200,000

What is one of the strategies ING is using to address the pressure on net interest income?

• Increasing loan interest rates

• Reducing customer base

• Geographic diversification

• Cutting employee salaries

What is a major challenge for cross-border banking deals according to ING?

• High transaction fees

• Cultural differences

• Language barriers

• Lack of liquidity movement

How long has ING been operating in Turkey?

• Over 5 years

• Over 10 years

• Over 15 years

• Over 20 years

What technology is ING exploring as part of its innovation initiatives?

• Virtual Reality

• Quantum Computing

• Blockchain

• Artificial Intelligence

How many staff members are working on ING's AML and KYC programs as of Q2?

• 1,000

• 2,000

• 3,000

• 4,000

What is the primary goal of ING's increased staffing in AML and KYC programs?

• To expand into new markets

• To increase profits

• To enhance customer service

• To ensure bank safety and compliance