ING and Boursorama finalise deal to offer the best banking alternatives for French ING retail customers
ING and Boursorama (a subsidiary of Societe Generale) have signed an agreement to offer the attractive 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 agreement also includes the transfer to Boursorama of ‘assurance-vie’ (investment products) contracts, for which ING acts as a broker with Generali Vie. Home loans and consumer loans are not included in the agreement and the portfolio will continue to be managed by ING.
The agreement follows ING’s announcement in December 2021 to exit the French retail banking market. The aim is to finalise this exit by the end of 2022. ING 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.
“We are pleased with the agreement with Boursorama. There will be a package of attractive offerings for our retail customers in France. We are confident that Boursorama offers highly regarded digital services that our customers value’, said Aris Bogdaneris, member of ING’s Management Board Banking and head of Challengers & Growth Markets.
ING has been active in the French retail banking market since 2000 as an online bank. For around 460 employees working for ING in France’s retail business, a social plan has been agreed to with local unions and has been approved by the French Ministry of Labour.
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