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5 big winners in the banking crisis!

Anonymous Coward
User ID: 311099
United States
07/29/2008 06:18 PM
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Re: 5 big winners in the banking crisis!
I thought Wells Fargo was also supposed to be on the skids.?
Anonymous Coward
User ID: 475285
New Zealand
07/29/2008 06:46 PM
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Re: 5 big winners in the banking crisis!
My five winners from the financial crisis are ING Group (ING, news, msgs)......


This Dutch bank and insurance company is positioned to pick up the pieces dropped by Citigroup and American International, both internationally and inside the United States. To give you just one glaring example of the way that ING is expanding into markets where challenged competitors are pulling back: In July, Citigroup announced the sale of its German consumer-loan business, with 340 branches and 3.2 million clients. In May, ING announced that it would buy German online mortgage broker Interhyp for about $644 million.

Before the current crisis, I would have identified Citigroup, American International and HSBC (HBC, news, msgs) as the leaders in the race to build dominant global financial brands. Stumbles by Citigroup and American International have thrown the race open to new players.

I think ING is most likely to come out of this crisis as a new member of the global top three. The company already has 75 million customers around the world, and it's making all the right moves to expand that number. About half of ING's business is insurance. In that business, ING has been busy shifting capital from mature West European markets to faster-growing markets in Central Europe and Asia. For example, on July 9, the company received regulatory approval to enter the insurance market in Ukraine.

In the banking part of its business, ING has stepped up its penetration of the U.S. market through its online ING Direct business. ING is an aggressive accumulator of online deposits, with more than $300 billion in online deposits worldwide. In the post-crisis world, raising funds for making loans from relatively low-cost deposits instead of in the capital markets will be a huge competitive advantage.

The company is also going after the lucrative and fast-growing market for managing retirement money. On July 1, the company acquired CitiStreet, a retirement plan and benefit service and administration business. The deal makes ING the third-largest defined-contribution pension business in the U.S., with $300 billion in assets under management. The company's strategy is to make smaller acquisitions of businesses that add to its existing core. In the current crisis, there are likely to be lots of businesses that fit that bill for sale.

(The stock now yields more than $7. Be careful when calculating yields because the company pays dividends twice a year instead of the customary four times.

 Quoting: UnwanteDreams

If ING is so good then why have they frozen these two funds?

ING forced to put freeze on two funds
5:00AM Thursday March 13, 2008

Investment manager ING has been forced to suspend withdrawals from two of its funds in one of the global credit crunch's first direct hits on Kiwi investors.

The indefinite suspension of withdrawals from the $353 million ING Diversified Yield Fund and the $168 million ING Regular Income Fund is effective from today. ING is also not selling any more units in the funds.....

..An 85-year-old woman put $300,000 into the Regular Income Fund 18 months ago and has since lost $60,000 on the value of her investment. "I thought I'll get out of it while the going's good."

The woman said it was "maddening" that she was now being forced to ride it out.

Full story at....

[link to www.nzherald.co.nz]
Anonymous Coward
User ID: 461504
United States
07/29/2008 09:27 PM
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Re: 5 big winners in the banking crisis!
How do you make a small fortune on Wall Stree?

------->Start with a large one.