ING's future in U.S. commercial lending tied to energy boom
"What we do is very much focused on our sector knowledge and leveraging our international franchise, and this is where the U.S. comes in," said William Connelly, global head of ING Commercial Banking in a recent interview with ‘American Banker’. "The areas that we specialise in … are tremendous opportunities in the U.S."
In 2012, ING sold its ING Direct U.S. operations, but has remained an active commercial lender stateside with more than $15 billion in U.S. assets. And it is growing: ING just added a Chicago office, in addition to ones in New York, Atlanta, Houston, Dallas and Los Angeles.
One of its primary niches is lending to energy-related companies, which makes the U.S. particularly appealing given the revolution in production over the last few years.
In the interview with 'American Banker', Connelly talks about the company’s growing interest in the U.S., its interest in energy despite recent volatility and global banking trends.
Watch the video interview above (4:22m)
Source: American Banker Online, Robert Barba, 29 June 2015
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