Award winning in United Arab Emirates

ING Best Bank in the World 2017 (Global Finance)
ING Global Bank of the Year 2016 (The Banker)
ING Wholesale Banking in

the United Arab Emirates / Dubai

Dubai, one of the 7 emirates comprising the United Arab Emirates (UAE), is the Middle East’s commercial and financial capital. Dubai has historically been hub of trade between the Arab world, the Indian sub-continent, Iran, and East Africa. Due to its limited oil resources, Dubai focused on this heritage by developing a world class seaport and airport. It has also diversified from a trade and real estate-based economy to one that is service and tourism-oriented. In order to benefit from its geographical location between East and West, Dubai set up the Dubai International Financial Centre (DIFC) which has helped Dubai become the region’s main financial hub.

ING Group has been operating in the Middle East since 1978 through various entities including BBL and Barings Asset Management. However, ING Wholesale Banking opened its first office in Dubai in July 2007, after obtaining a license from the Dubai Financial Services Authority (the regulator within the Dubai International Financial Centre).

The primary geographic remit of ING Wholesale Banking Middle East is the Gulf Cooperation Council (GCC), which comprises of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. The GCC had a combined population of 50 million and nominal GDP of USD 1.56 trillion at the end of 2014. The GCC accounts for approximately 40% of the oil and 23% of the world’s gas reserves.

As part of ING’s Wholesale Banking UK region, the Dubai office operates essentially as a relationship management office, developing and maintaining relationships with corporate clients (mainly sovereign-related), wealth funds and top financial institutions in the GCC. The focus is on payments and cash management and general lending, structured finance, and financial markets transactions for GCC and international corporate clients, working together with product specialists from other parts of ING’s global network.

Currently, the Dubai office has no booking capabilities and does not provide local currency accounts or transaction services.


Country trade view Saudi Arabia

As a trademark for Gulf countries, Saudi Arabia’s economy is dominated by crude oil production. This lack of diversification means it is highly sensitive to oil price developments.

The government budget, the trade balance and the foreign exchange reserves have all been hit hard by the recent crash in oil prices. Can Saudia Arabia recover? What will happen to exports and imports?

More about the current state of trade and our expectations for the future in our Country trade view Saudi Arabia (May 2016, PDF, 1712 kB).

You can contact us in United Arab Emirates / Dubai

United Arab Emirates / Dubai

ING Wholesale Banking
Level 2, Gate Village 5
DFIC, P.O. Box 506641
United Arab Emirates

Wilmar and ING collaborate on sustainable loan

November, 2017

ING has partnered Wilmar International Limited on its first sustainability performance-linked loan in Asia. Wilmar will convert a portion of its existing bilateral, committed revolving credit facility with the bank into a sustainability performance-linked loan.

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Eddy Henning joins ING staff in Asia

October, 2017

ING announces the appointment of Eddy Henning as head of Corporate Client Coverage, Transaction Services and Corporate Finance Asia as of 1 January 2018.

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ING Best Bank in the World 2017 (Global Finance)

August, 2017

Global Finance magazine has announced the winners of its World’s Best Global Banks 2017 Awards, where for the first time ever it has named the Best Bank in the World. The winner is ING.

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Rob Carnell appointed as chief economist and head of research

June, 2017

ING has appointed Rob Carnell as chief economist and head of Research Asia-Pacific to succeed Tim Condon, effective 1 July 2017.

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ING Global Bank of the Year 2016 (The Banker)

December, 2016

ING has been awarded as the best bank in the world. This year, ING even won a total of four awards at ‘The Banker’s’ Best Bank Awards 2016. Besides Global Bank of the Year, ING was named Best Bank of the year 2016 in the Netherlands, in Belgium, and in Western Europe.

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ING Bank and Global Initiatives launch Sustainable Finance Collective Asia

November, 2016

Collective brings together funding partners ING Bank, Credit Suisse, FMO and the UNDP-UN Social Impact Fund to finance sustainability projects in Asia.

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The Emirates' hyperloop and other unknown unknowns

November, 2016

'Last week I joined our colleagues from the Dubai office as we flew across the region: Kuwait and Bahrein in the north and Oman, Dubai and Abu Dhabi further south. The latter is actually the capital of the United Arab Emirates (UAE), while Dubai is one of the other 6 emirates making up the UAE.' A blog by Jeroen Plag, head of Client Coverage Americas, Asia & UK, ING.

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Business opportunity report United Arab Emirates

July, 2016

While oil is very important for the United Arab Emirates (UAE), the UAE is well on its way towards a diversified economy. The country has a favourable business climate and the diversification of its economy should strengthen the UAE’s position as a financial and international trade hub in the region.

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ING: New executive appointments in the Middle East

June, 2016

ING Wholesale Banking is expanding its Middle East and Africa operations as part of its continued growth in the region. In line with the bank’s business strategy for the Dubai office, several new senior appointments have been made.

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World trade: No revival in sight yet

June, 2016

World trade has failed to outpace world GDP since 2012. Sluggish growth of trade is poised to continue for the coming years. Read our report 'World trade: No strong recovery in sight yet.

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Country trade view United Arab Emirates

March, 2016

The United Arab Emirates’ export is highly dependent on oil. The dependency is twofold: most of the UAE’s output is oil or oil related and government tax income (and therefore the government budget) depends on oil market developments. Imports are expected to grow across all ING defined categories.

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Products & services in the United Arab Emirates / Dubai

Expand your business (0)

Acquisition finance

Undertaking an acquisition can lead to growth and increased share prices. ING Wholesale Banking can help structure and finance your acquisition.

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Finance your business (0)

Debt capital markets

Increase your capital and broaden your funding solutions by appealing to the debt capital market. ING Wholesale Banking can help.

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Trade and commodities finance

Trade and commodity investing can diversify and stabilise your portfolio to ensure long-term positive gains. ING Wholesale Banking can be of assistance.

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Structured export finance

Secure your assets through long-term structured export financing. ING WB will help mitigate your risks and structure your investments.

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Hedging risks well can lead to a steady, positive performance of your infrastructure investments. ING Wholesale Banking can help.

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Metals and energy

Structure your metals and energy transactions to maximise returns on investments. ING Wholesale Banking can help.

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Natural resources

Structure your natural resource transactions to maximise returns on investments. ING Wholesale Banking can help.

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Power and utilities

More capital means you can upgrade or transform power and utility operations to better meet strict standards and targets. ING WB can assist.

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Telecom, media and technology

Structure your telecom, media and technology transactions to maximise returns on investments. ING Wholesale Banking can help – Read on to learn how.

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Transportation financing

Effective financing for your transportation and logistical needs makes for a more efficient supply chain. ING Wholesale Banking can help you.

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Manage your risks and assets (0)

Client clearing services

As an experienced SwapClear member with state-of-the-art infrastructure for clearing on the LCH. Clearnet platform (LCH), ING Bank has all capabilities and the track record to support your transaction, clearing and settlement needs.

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