ING Bank Philippines to focus on lending, capital markets

ING Bank N.V. Philippines is focusing mainly on lending and capital market deals to sustain growth under the term of newly appointed country manager Hans Sicat.

"This has to do with pushing for a lot of these types of transactions which yield us a lot of activities and opportunities in the capital market space, in the lending space, in the financial markets, and treasury space," Sicat told reporters during a briefing in Makati City on Wednesday.

"By doing these types of engagements, we are hopefully addressing our corporate clients in a holistic way," he said.

Sicat, the former President of the Philippine Stock Exchange, is stepping in as country manager of ING Manila Branch on November 16, 2017.

He is taking over from Consuelo "Zondy" Garcia, who is scheduled to retire on the same day.

"It's really to build on what Zondy and team have built and make sure, first of all, with all the growth initiatives that they've put in place, that they actually become reality," Sicat noted.

The bank will continue to leverage on its strong points.

"In addition, ING is one of the strongest banks in the Eurozone with a market capitalization of over $70 billion," he said.

"This gives the institution great credibility and enhances our track record in terms of being a top advisor for M&A (mergers and acquisitions) transactions, as well as our debt and equity capital markets distinction here in the Philippines," he added. — VDS, GMA News