ING, Societe Generale's Unit In Deal To Offer Services To French ING Retail Customers

(RTTNews) - ING Group (ING) announced Tuesday that it has signed an agreement with Boursorama, a subsidiary of Societe Generale, to offer services to retail customers of ING in France.

The contract allows ING customers to join Boursorama and benefit from a simplified account opening process and exclusive offers.

The deal also includes the transfer to Boursorama of 'assurance-vie' investment products contracts, for which ING acts as a broker with Generali Vie.

Meanwhile, home loans and consumer loans are not included in the agreement and the portfolio will continue to be managed by ING.

The company said the deal follows ING's announcement in December 2021 to exit the French retail banking market. ING's aim is to finalise this exit by the end of 2022.

The bank will continue its Wholesale Banking activities in France, with a focus on strengthening its position and the ambition to be the go-to bank for sustainable finance.