RTTNews | Jul 12, 2021 10:35PM EDT

22:35 Monday, July 12, 2021 (RTTNews.com) - ING said it agreed to transfer its Retail Banking operations in Austria to bank99, the bank of sterreichische Post, the Austrian postal services.

The deal come following a review of strategic options for ING's Retail Banking operations in Austria as announced in March 2021.

However, ING will retain its Wholesale Banking activities in Austria.

Bank99 was launched in 2020 and currently offers online banking to 80,000 customers. ING has discontinued its savings-only offering in Austria. The about 150,000 customers with current accounts, mortgages or consumer loans will be onboarded with bank99, which will also acquire all Retail staff and assets. The process will start in the coming months and is expected to be finalized in the last quarter of 2021.

Read the original article on RTTNews ( https://www.rttnews.com/3208492/ing-to-transfer-retail-banking-operations-in-austria-to-bank99.aspx)

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