ING Direct (continued)
Conclusions and ambitions
In 2008, ING Direct continued to put the customer first, and will continue to do so. Despite the market turmoil, ING Direct produced positive commercial results. It is strictly monitoring expenses, risk and capital. Given the current priorities of preserving ING's capital position and the worsening economy, ING Direct will reduce expenses by about EUR 150 million in 2009, through lower operating and marketing expenses, and a headcount reduction of around 600 FTEs. ING Direct will gradually expand the product range.
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