(Australia) – Dutch banking giant ING, which began its Australian retail operation in 1999, now has A$8.2 billion in deposits, according to ING Direct Australia chief executive Vaughn Richtor.Speaking at an American Chamber of Commerce conference, Richtor said ING Direct now had more than 420,000 customers.
“We are growing at a rate which is more than satisfying and just to give you some idea, our savings book which was zero in August 1999 was A$2 billion by the end of 2000, A$5.1 billion by the end of 2001 and A$7.7 billion by the end of 2002,” Richtor said.
“Today it is over A$8.2 billion so there is a danger of trying to do too much as well because we have to make sure that we can keep up with our service standards.”