Scotiabank Acquires ING Bank of Canada

Overview of ING Direct Canada . • • • Established in 1997 - - Canada's 8th largest bank Approximately 1,100 employees 888888888 28 1.8 million customers with the highest average household net worth of all the Canadian banks $30 billion of deposits - 95% retail $40 billion of high quality assets - Includes $29 billion of residential mortgages • 59% of mortgages insured • • Average loan-to-value ratio of uninsured portfolio is 53% PCLS <0.02% Primary customer interaction via internet, mobile banking and call centres - No branches - Five ING Direct Cafés 3 Scotiabank

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