ING Belgium has sent around 7.2 billion euros in profit to its Dutch Head office over the last 10 years, L’Echo reported on Saturday. Over the last three years, the Belgian branch has sent over more than a billion euros every time.
A special ING Belgium assembly will take place at 7am on Monday. A mayor restructuration of the agency network and a large part of the staff is expected to be announced. The merger with Recordbank, which will become 100% a branch of ING Belgium, should also be discussed.
L’Echo reported that ING is holding the assembly because of the Renault law, which states that staff must be the first to be informed of a collective redundancy.