Cempaka Belanda: ING Completes Sale of Its Asian Private Banking Business to Singapore Group

"A Summary" – Apr 2, 2011 (Kryon channelled by Lee Carroll) (Subjects: Religion, Shift of Human Consciousness, 2012, Intelligent/Benevolent Design, EU, South America, 5 Currencies, Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Middle East, Internet, Israel, Dictators, Palestine, US, Japan (Quake/Tsunami Disasters , People, Society ...), Nuclear Power Revealed, Hydro Power, Geothermal Power, Moon, Financial Institutes (Recession, Realign integrity values ..) , China, North Korea, Global Unity,..... etc.) - (Text version)

"The Timing of the Great Shift" – Mar 21, 2009 (Kryon channelled by Lee Carroll) - (Text version)

“ … Here is another one. A change in what Human nature will allow for government. "Careful, Kryon, don't talk about politics. You'll get in trouble." I won't get in trouble. I'm going to tell you to watch for leadership that cares about you. "You mean politics is going to change?" It already has. It's beginning. Watch for it. You're going to see a total phase-out of old energy dictatorships eventually. The potential is that you're going to see that before 2013.
They're going to fall over, you know, because the energy of the population will not sustain an old energy leader ..."

"Update on Current Events" – Jul 23, 2011 (Kryon channelled by Lee Carroll) - (Subjects: The Humanization of God, Gaia, Shift of Human Consciousness, 2012, Benevolent Design, Financial Institutes (Recession, System to Change ...), Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Nuclear Power Revealed, Geothermal Power, Hydro Power, Drinking Water from Seawater, No need for Oil as Much, Middle East in Peace, Persia/Iran Uprising, Muhammad, Israel, DNA, Two Dictators to fall soon, Africa, China, (Old) Souls, Species to go, Whales to Humans, Global Unity,..... etc.)

"The Recalibration of Awareness – Apr 20/21, 2012 (Kryon channeled by Lee Carroll) (Subjects: Old Energy, Recalibration Lectures, God / Creator, Religions/Spiritual systems (Catholic Church, Priests/Nun’s, Worship, John Paul Pope, Women in the Church otherwise church will go, Current Pope won’t do it), Middle East, Jews, Governments will change (Internet, Media, Democracies, Dictators, North Korea, Nations voted at once), Integrity (Businesses, Tobacco Companies, Bankers/ Financial Institutes, Pharmaceutical company to collapse), Illuminati (Started in Greece, with Shipping, Financial markets, Stock markets, Pharmaceutical money (fund to build Africa, to develop)), Shift of Human Consciousness, (Old) Souls, Women, Masters to/already come back, Global Unity.... etc.) - (Text version)

“… The Shift in Human Nature

You're starting to see integrity change. Awareness recalibrates integrity, and the Human Being who would sit there and take advantage of another Human Being in an old energy would never do it in a new energy. The reason? It will become intuitive, so this is a shift in Human Nature as well, for in the past you have assumed that people take advantage of people first and integrity comes later. That's just ordinary Human nature.

In the past, Human nature expressed within governments worked like this: If you were stronger than the other one, you simply conquered them. If you were strong, it was an invitation to conquer. If you were weak, it was an invitation to be conquered. No one even thought about it. It was the way of things. The bigger you could have your armies, the better they would do when you sent them out to conquer. That's not how you think today. Did you notice?

Any country that thinks this way today will not survive, for humanity has discovered that the world goes far better by putting things together instead of tearing them apart. The new energy puts the weak and strong together in ways that make sense and that have integrity. Take a look at what happened to some of the businesses in this great land (USA). Up to 30 years ago, when you started realizing some of them didn't have integrity, you eliminated them. What happened to the tobacco companies when you realized they were knowingly addicting your children? Today, they still sell their products to less-aware countries, but that will also change.

What did you do a few years ago when you realized that your bankers were actually selling you homes that they knew you couldn't pay for later? They were walking away, smiling greedily, not thinking about the heartbreak that was to follow when a life's dream would be lost. Dear American, you are in a recession. However, this is like when you prune a tree and cut back the branches. When the tree grows back, you've got control and the branches will grow bigger and stronger than they were before, without the greed factor. Then, if you don't like the way it grows back, you'll prune it again! I tell you this because awareness is now in control of big money. It's right before your eyes, what you're doing. But fear often rules. …”

Monday, February 1, 2010

ING Completes Sale of Its Asian Private Banking Business to Singapore Group

Insurancenewsnet.com, February 01, 2010

Dutch financial services group ING N.V. [85144] has closed on the US$1.45 billion sale of its Singapore-based ING Asia Private Bank Ltd. and its subsidiaries to Oversea-Chinese Banking Corp. Ltd., which will generate an estimated net profit of 300 million euros (US$316 million) to the group.

Following the transaction, ING Private Bank and its subsidiaries is now a wholly-owned private banking subsidiary of OCBC Bank, and has been renamed Bank of Singapore Ltd., which will be led by Renato de Guzman, chief executive of the former ING bank, said OCBC.

Anneloes Geldermans, a spokeswoman for ING Group, declined to comment on details of the transaction, but said the company is "pleased to have found such a solid and professional player as OCBC as the new owner of its Asian private banking business. OCBC knows the business, market and customers."

The group also declined to disclose figures of ING's Asian private banking business before the sale, but Geldermans said ING Asia Private Bank had more than 500 employees. ING's Asian private banking operations had around 11 billion euros of assets under management, while its Asian franchise provided private banking services in 11 markets, including Hong Kong, the Philippines and Singapore, noted Geldermans.

ING said the deal is in line with its "back to basics" strategy to focus on fewer franchises and reduce the complexity of the group. It earlier said the transaction is expected to free up around 370 million euros of capital (BestWire, Oct. 15, 2009).

The Dutch group said it remains active in Asia with retail banking, insurance, commercial banking, investment management and real estate. It will continue its private banking activities in China through a stake in Bank of Beijing, in India through ING Vysya Bank and in Thailand through TMB Bank.

ING also closed the sale of its Swiss private banking business to Julius Baer, a pure-play Swiss private banking group, on Jan. 15, which will generate an estimated net profit for ING of 150 million euros.

The company said its private banking activities in the Benelux, including Belgium, the Netherlands, and Luxembourg, and in Central and Eastern Europe belong to ING's core businesses.

Following completion of the acquisition, OCBC said the private banking businesses of ING and OCBC Bank will be combined and operate as Bank of Singapore, which will become a leading Asian private bank with more than 7,000 clients and assets under management of US$23 billion.

The new brand also relies on Singapore’s position as a rapidly growing private banking hub that attracts money flow from Asia, the Middle East and Europe, said OCBC.

"The successful completion of this acquisition marks a significant milestone in our private banking business," said David Conner, chief executive of OCBC Bank, in a statement. "We are committed to investing more in this franchise and to better serve the needs of our high net worth customers across our key markets."

According to Conner, OCBC's private bank customers will benefit from the ING unit's product platform and proprietary research, while ING banking customers will benefit from the access to OCBC's branch network, products and services such as property financing, brokerage services, insurance, retail and small and medium-size enterprise banking.

Established in 1912, OCBC Bank said it is the second-largest financial services group in Southeast Asia by assets. Its key markets are Singapore, Malaysia, Indonesia and greater China.

The bank's insurance subsidiary, Great Eastern Holdings [89434], is the largest insurance group in Singapore and Malaysia by assets. Its asset management subsidiary, Lion Global Investors, is one of the leading private sector asset managers in Southeast Asia, the company said.

(By Rebecca Ng, Hong Kong news editor: Rebecca.Ng@ambest.com)