ING's Acquisition Of Bank Brussels Lambert Reflects Pressures To Merge Ahead Of EMU
BANKS
ING Group officially acquired Bank Brussels Lambert on January 5, and created a "fifth executive centre" called ING Belgium, based in Brussels. The acquisition of BBL is very much retail driven, say sources, reflecting the strong pressure on European banks to merge ahead of European Economic and Monetary Union (EMU).
For the time being, there have been no structural alterations in the two banks' international trading operations. Wieger Sietsma, a spokesman for ING explains: "In all products and
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