VERKOOP VAN ING’S OPEN MARKT CREDIT CARD PORTFOLIO AAN INTERNATIONAL CARD SERVICES

Sale of ING’s open market credit card portfolio to International Card Services
Amsterdam, 28 March 2009

Holland Corporate Finance is pleased to announce that its client, ING Bank N.V., has successfully sold its open market credit card portfolio to International Card Services B.V.

ING Bank manages a 1.2 million credit card portfolio in the Benelux. Part of this portfolio are credit card holders which do not have their primary banking relationship with ING, the so called open market portfolio. As part of the new strategy following the merger of the retail operations of Postbank and ING Bank the decision had been made to dispose this part of the portfolio.
ING Bank’s open market portfolio was ultimately acquired by International Card Services (ICS), in order to further strengthen its position as largest provider of credit cards in the Benelux.

ING Bank is a subsidiary of ING Group. ING Group is a global financial services company providing banking, investments, life insurance and retirement services to over 85 million private, corporate and institutional clients in more than 40 countries in Europe, the United States, Canada, Latin America, Asia and Australia. The company has a workforce of about 125,000 people.

International Card Services (ICS) is a subsidiary of Fortis Bank Nederland N.V. The company issues, promotes, administrates, processes transactions, provides insurance services and credit for both Visa as well as MasterCards. The company takes care of all Fortis credit cards, facilitates co-branded credit card programs and offers other bank independent credit cards.

The transaction team of Holland Corporate Finance consisted of Ruud van Hoek, Jurgen van Dijk and Frank de Hek.