Tariffs are driving up trade cost, we are seeing companies looking to increase working capital: ING

In an interview with CNBC Asia, Uday Sareen, ING’s chief executive and head of Wholesale Banking APAC, underscored two pivotal themes: “Tariffs are accelerating long-term shifts in global trade,” and “for ING, we are in growth mode in Asia.”  

Against a backdrop of rising trade costs, geopolitical uncertainty, and evolving supply chains, Uday pointed to ING’s strong momentum across several strategic areas in the region. These include increasing demand for receivables-based financing and transaction services to unlock upfront working capital and mitigate buyer credit risk; supply chain diversification, particularly as European clients expand operations in Asia; and accelerating investments in digital infrastructure, including APAC data centres, fibre networks, and AI-driven platforms.  

ING also continues to lead in sustainable finance, mobilising €30 billion globally in Q1 alone—a 23% year-on-year increase. In Capital Markets & Advisory, the bank is actively supporting clients in future-proofing their businesses and managing emerging risks in an increasingly dynamic trade environment. 

Originally published in CNBC Squawk Box Asia: Opens in a new tabhttps://www.cnbc.com/video/2025/07/07/ing.html