Money Buzz! Europa

Tag: ing

  • Ignacio Juliá Vilar is the new country manager for ING Spain and Portugal

    Ignacio Juliá Vilar is the new country manager for ING Spain and Portugal

    Ignacio Juliá Vilar has been appointed as country manager for ING Spain and Portugal from 1 January 2021.

    Ignacio, who joined ING back to 1999, has a wealth of retail experience that will help drive growth in Spain’s primary customers, digitalisation and revenues.

    This includes previous roles as ING’s chief innovation officer and as head of the Retail segment. He currently leads the Maggie transformation programme.

    Ignacio Juliá Vilar succeeds Roel Huisman, whose next role will be announced in due course.

  • ING to cut 1.000 jobs and close all branches in Latin America

    ING to cut 1.000 jobs and close all branches in Latin America

    ING announced on Thursday that it will cut 1.000 jobs and close all branches in Latin America and some Asian countries.

    The group reported a net profit of 788 million euros in the third quarter, almost half compared to the result of 1.4 billion euros reported in the third quarter of last year, and below the estimates of analysts who relied on a profit of 844 million euros.

    In contrast, ING costs rose to 2.6 billion euros.

    In recent years, ING has been one of the fastest growing European banks, gaining millions of customers through online services.

  • Czech industrial production at -5.5% compared to 2019

    Czech industrial production at -5.5% compared to 2019

    Czech industrial production fell by 0.9% month-on-month and the year-on-year decline slightly increased to -5.5%, mainly due to weaker production in the automotive sector, an ING report shows.

    Since the start of the year, Czech industry has dropped by 12%.

    New orders in industry were also not favourable, as their year-on-year decline intensified from -3.6% in July to almost 10%, which was mainly driven by a decline in foreign orders (-11.1 YoY).

    ”Although September’s industry-leading indicators were rather positive, both in Czech industry as well as in Germany, the advent of the second wave of the epidemic will hamper further industrial recovery”, the report shows.

    From January to August, Czech industry fell by 12.2% year-on-year, but the overall decline should gradually fall below 10% by the end of the year, despite the second wave of the Covid-19 outbreak.

  • What payment methods do Europeans use and love

    What payment methods do Europeans use and love

    Around 13.000 people in 13 European countries were asked by ING how they pay and why they use their selected payment methods.

    When asked how true or untrue the statement ”The more payment options I have, the better” is, 25% across Europe considered the statement to be completely true. Opposed to this, 13% considered the statement not true at all.

    Subtracting the untrue from the true responses gives a net figure of 12% who consider the statement to be true.

    But there was considerable variation between countries ranging from a net low of -16% in the Netherlands, to a high of 36% in Romania.

    People employed full-time use an average of 5.3 different payment methods

    Those employed full-time use an average of 5.3 different payment methods, compared to 4.0 for those who are not working due to being unemployed.

    Similarly, those with a master’s or PhD use an average of 5.7 different payment methods, compared to 3.7 for those who did not finish high school.

    Consistent trends are also seen across incomes, those earning more than €7k per month use an average of 6.0 different payment methods, those without an income use an average of 3.1.

    People who own lots of technology devices tend to use more options

    Own 8 different devices and you will use an average of 10.2 different payment options, compared to the 3.1 that are used by those who own one piece of technology.

    This is potentially also a reflection of an early adoption mentality. Own more tech devices, be open to experimenting with the latest trends.

    Most people tend to use between four and six methods to make payments in-store and online

    In the last six months, three in-store payment options – cash (69%), bank card with pin (65%), and tapping a card without a pin (57%) – were used by more than half of survey respondents.

    To make online payments over the past month, two options dominated: entering card details on a website (42%) or using online payments system PayPal (48%).

    Very few Europeans, just 4%, say they prefer to use their phone to pay for small expenses in-store, over all other options, for example.