MANILA, Philippines — Despite exiting the retail banking market over two years ago, Amsterdam-based ING Bank has reaffirmed that the Philippines remains a “cornerstone” of its global operations. In a recent statement, bank executives emphasized that the company “can’t live without the Philippines,” highlighting the nation’s critical role in powering its worldwide financial machinery.
While the bank no longer serves individual consumers in the country, it has significantly expanded its Wholesale Banking and Global Hub operations. These units provide essential services—ranging from financial markets processing and lending support to anti-money laundering monitoring—for approximately 40 countries across Asia and Europe.
Key Highlights of ING’s Presence in the Philippines:
- Talent Hub Expansion: ING Hubs Philippines now employs roughly 7,000 professionals across its Makati and Bonifacio Global City (BGC) locations. This represents more than 10% of the bank’s total global workforce of 65,000.
- Shift to AI and High-Value Tech: The Manila-based teams are transitioning from simple execution to “end-to-end platform ownership.” This includes a project to expand the tech workforce by 20% over the next 12 to 24 months, focusing on generative AI for fraud detection, risk management, and data analysis.
- 35-Year Milestone: In February 2026, the bank celebrated its 35th anniversary in the Philippines. Over three decades, it has facilitated over $28 billion in capital market transactions and advised on $35 billion in M&A deals for large Filipino corporations.
- Sustainability Leader: ING remains a primary provider of sustainable finance in the region, supporting landmark ESG transactions and green bonds for major Philippine conglomerates.
Marnix van Stiphout, ING’s Chief Operating Officer, noted that the Philippine operations have “grown beyond what was expected originally,” solidifying the country’s status as one of the bank’s most capability-rich sites globally.