ING Groep NV Investor Day Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Bart Jooris - Banque Degroof Petercam S.A., Research Division - Analyst : Bart Jooris, Degroof Petercam. Question for the both of you actually. Have you checked whether or not your mostly Benelux clients are Brexit ready or have you helped them to become more Brexit ready? Could you give us some of your findings there? Steven J. A. van Rijswijk - ING Groep N.V. - Chief Risk Officer, Member of the Executive Board & Member of Management Board Banking Yes. Well, I mean, first of all, but this was already a while ago, we've done some stress tests. First of all, we looked at how much exposure do our clients have on the U.K., and that is mainly in the SME and mid-corps spheres in the Netherlands and Belgium but also Wholesale Banking clients as well as U.K. clients that are largely dependent on our support for them in the U.K. And then we've stress-tested that. What you clearly see is as without the prior written consent of Thomson Reuters. 'Thomson Reuters' and the Thomson Reuters logo are registered trademarks of Thomson Reuters and its affiliated companies. MARCH 25, 2019 / 10:00AM, INGA.AS - ING Groep NV Investor Day the dependency that our clients in general have on the U.K. is fairly limited, but that's from a firm point of view. Other than that, we have been in discussions with many of our clients already for many months to see what they can do to protect our risks. So I think we have it relatively well under control.