Bank of Nova Scotia said Thursday it has completed its acquisition of ING DIRECT Canada from its Netherlands-based parent ING Group, having received all required regulatory approvals.
“ING DIRECT will continue to operate as a separate and distinct wholly owned subsidiary, providing low cost and highly competitive products to self-directed customers,” said Anatol von Hahn, Scotiabank group head, Canadian Banking.
“Customers will be able to interact with ING DIRECT the way they do now; their account numbers, bank cards and passwords will not change,” he added.
“This is an exciting opportunity for ING DIRECT in Canada,” said Peter Aceto, CEO of ING DIRECT Canada. “Our bank will benefit from the backing of a strong, stable Canadian shareholder providing additional resources that will enable us to focus on areas of strategic growth.”
With more than 81,000 employees, Scotiabank (TSX:BNS) and its affiliates serve some 19 million customers in more than 55 countries around the world.