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ING calms Heritable Bank and Kaupthing Edge savings account customers

15/10/2008

ING Direct has moved to calm the nerves of savers who are worried about the safety of their savings with collapsed banks Kaupthing Edge and Heritable Bank, both of which have been taken over by the Dutch ING Group.

ING Direct has signed an agreement with the UK Treasury to acquire the savings arms of the nationalised Icelandic banks Kaupthing Edge and Heritable Bank – taking on £2.5billion deposits belonging to Kaupthing Edge's 160,000 savings account customers, and 22,200 Heritable customers with deposits of £538million. more


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