ING 32 in ‘22: Wholesale Banking sets optimistic precedent for APAC and the Philippines

Manila, Philippines, 28 October 2022 - As ING celebrates 32 years in the Philippines, the Dutch financial institution reflects on decades of supporting wholesale banking clients’ growth strategies and contributing to the country’s economic development.

Themed “ING 32 in ’22: Navigating and Growing the Future”, the bank hosted its anniversary cocktail event on 27 October at the Manila Polo Club, celebrating shared successes with clients and partners while reaffirming its commitment to growth and sustainability in the Philippines.

Having identified Asia Pacific as a high-growth region with a strong track record and continued potential for revenue diversification, ING plans to further invest in expanding its wholesale banking business. The bank aims to strengthen its position by leveraging its leadership in M&A advisory, capital markets, and sectoral growth opportunities across renewable energy, technology, media and telecommunications, infrastructure, and financial institutions.

In his welcome address, Jun Palanca, head of ING Wholesale Banking Philippines, stated: “We remain optimistic about the country and region’s potential, especially in areas where ING can make a difference.”

With its ‘glocal’ approach—global reach paired with local expertise—ING offers Philippine corporates tailored financial solutions aligned with their business needs and sector-specific opportunities.

However, ING underscored that one of the most pressing global challenges today is the climate crisis. As a bank, ING recognises that its greatest impact lies in its financing and advisory activities.

Globally, ING has invested billions of euros in wind farms, solar energy, and geothermal power production. It remains on track to align its loan book with the Paris Agreement’s climate goals, focusing on the nine sectors with the highest greenhouse gas emissions. Notably, ING launched the world’s first sustainability-linked loan with Philips in 2017.

The message on sustainability was echoed by Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla, who remarked: “BSP will continue to provide an enabling environment for banks to espouse sustainability. We hope that industry players will be like ING, increasingly placing sustainability at the core of their operations. We look forward to more contributions from ING.”

In his closing remarks, Hans Sicat, country manager of ING in the Philippines, added: “There’s a growing sense of urgency on climate change. It is clear that governments, businesses and individuals must all step in to help address it. Across the world, we’ve been working closely with our clients on their ESG goals. We’ve closed several first-of-their-kind deals, and many of our green financing transactions were the first for our clients. In the Philippines, we’re proud to advise on sustainable finance frameworks, support inaugural green bond issuances, and provide financing for projects that enable the transition to a low-carbon economy.”

Looking ahead, ING plans to deepen its focus on sustainable finance, offering advisory support and sharing global and regional expertise with Philippine corporates who are increasingly committed to achieving their ESG goals.

Hans concluded: “Our local team is well-equipped to engage clients and partners in ESG discussions, and we’re backed by ING’s regional sustainable finance team in Singapore to help clients kick-start their sustainability journey.”

In collaboration with Modeka Gallery—an independent, artist-led contemporary art space based in Makati—the anniversary event also featured a sustainability-themed exhibition. Participating artists explored diverse mediums including recycled paper, reclaimed wood, found objects, and painted works centred on climate and diversity.