Scotiabank to buy ING….how will this affect you?
Earlier this month, ING Groep, the Dutch financial services giant, announced they were looking to sell their Canadian and UK operations in order to raise cash. ING received a $10billion euro bailout from the Dutch govt during the 2008 Financial crisis and they want to start paying it back.
It didn’t take long to find a buyer for the Canadian operations. Scotiabank will buy the Canadian division of ING for around $3billion. The press release hinted at some good news for the Canadian public. Scotiabank will continue to run ING as a separate entity. For mortgage clients, this is mainly good news…. but we do have some concerns… Continue reading “Scotiabank to buy ING….how will this affect you?”
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