ING Groep stock faces US$1.5 billion Asian private-bank deal
Published on 11/12/2026 at 11:45 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSOCBC weighs ING private-bank acquisition
- OCBC is reportedly close to buying ING's Asian private-banking assets.
- The possible transaction would cover operations serving more than 5,000 clients.
- ING's assets under management in the division fell to EUR 11 billion at the end of June.
OCBC is close to an agreement to buy ING Groep's Asian private-banking assets for US$1.5 billion, The Edge Malaysia reported on Thursday, November 12, 2026. The report cited two people familiar with the matter and said an announcement could come as early as the same day. ING and OCBC declined to comment.
The possible transaction would add ING's private-banking operations in Singapore, Hong Kong and the Philippines to OCBC's wealth-management platform. The division serves more than 5,000 clients and is led by Renato de Guzman, according to the report.
Strategic value for OCBC
OCBC reportedly prevailed over HSBC in the process. The deal would strengthen OCBC's position in Asian private banking at a time when wealth creation in the region is expected to outpace growth in Europe and the United States.
Trevor Kalcic, head of Southeast Asia equity research at Royal Bank of Scotland, said private-banking assets are scarce and difficult to acquire. In his view, the purchase would give OCBC a stronger platform to compete, while the Singaporean bank could afford the transaction.
ING reshapes wealth management
ING's Asian private-banking assets under management declined to EUR 11 billion at the end of June from EUR 11.4 billion three months earlier. The reported sale would follow ING's disposal of its Geneva-based wealth-management business to Julius Baer, highlighting the bank's broader portfolio reshaping.
For ING investors, the potential transaction could bring a cash inflow and further narrow the group's private-banking footprint. The financial effect remains dependent on the final terms, regulatory approvals and completion of the deal. Neither the timing nor the purchase price has been confirmed by the companies.
ING Groep stock traded at 30.20 euros on Lang & Schwarz at 11:40 CET on Thursday, November 12, 2026.
ING Groep at a glance
- Company: ING Groep N.V.
- ISIN: NL0011821202
- Lang & Schwarz price: 30.20 euros at 11:40 CET on November 12, 2026
- Reported transaction: OCBC's potential acquisition of ING's Asian private-banking assets
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