The Retail Banking department manages all the banking business of ING Luxembourg Retail customers. These may be private individuals, SMEs or self-employed business people at both local and international level.
- Retail Banking targets four types of customers:
- Resident customers living and working in Luxembourg
- Cross-border customers (i.e. with a financial link to Luxembourg)
- Non-resident customers
- Business customers, SMEs and resident companies
With nearly 200 employees to its name, Retail Banking is one of the bank’s largest departments. Backed by 16 branches located across Luxembourg, the department performs a range of activities spread over 3 business lines:
- Savings & General Banking: products and services connected with ‘current’ business and savings, including credit cards, new accounts, insurance, etc.
- Lendings & Companies defines the Credit policy in Retail Banking both for individuals (residents, non-residents and cross-border customers) and legal entities. Its team analyses each customer file in order to determine credit facilities. Lendings and Companies also determines the business policy for SMEs and self-employed business people within the Retail Banking department.
- Using a global wealth management and tax approach, Investment determines ING Luxembourg’s investment policy for all its Retail customers.
The department covers numerous business lines: Relationship managers, Loan Advisors, Companies Relationship Managers, Private Relationship Managers are some of the opportunities available in Retail Banking.
The department also has specialist desks whose main role is to provide support and expertise to sales staff at the branches (Private Advisory Desk, Companies Desk, Domiciled Companies Desk, Business Development).
Lastly, Retail Banking includes a support unit and a change management unit to manage and ensure coordination of Retail Banking as a whole (change management, support to branches, risk and security management, etc.).