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In 1990, ING opened asa foreign commercial bank in Manila with a team of four people, based in the Pacific Star Building. 35 years later, ING Philippines has built enduring partnerships with many of the country’s leading companies, supporting their growth through economic cycles, industry transformations, and shifting market dynamics. 

This milestone anniversary offers an opportunity to reflect on that shared journey and to look ahead at how Philippine businesses can navigate their next phase of growth in an increasingly complex global environment.

BUILDING MARKET LEADERSHIP 

ING's evolution in the Philippines has been shaped by milestones that reflect both the bank's capabilities and the growing sophistication of the local market. 

In 1996, ING became the first foreign bank to receive a universal banking license from the Bangko Sentral ng Pilipinas. This was followed by participation in major privatisation transactions, including the Petron Corporation divestment in 2001, which helped establish ING as a trusted adviser on complex, high-stakes deals. 

By 2002, ING was among the first foreign banks to introduce foreign exchange derivatives and structured solutions for Philippine corporates, enabling companies to better manage currency risk and adopt more advanced hedging strategies.

Over the following decades, ING built a substantial track record across capital markets and mergers and acquisitions. The bank has participated in more than 194 capital market transactions totalling US$28 billion and advised on over 80 M&A deals valued at US$35 billion. Among the most notable mandates was ING’s 2015 advisory role to Globe Telecom on a US$1 billion infrastructure transaction, alongside pioneering debt capital market structures and solutions for leading conglomerates and financial institutions. 

ING's performance in financial markets has long been recognised by the industry. From 2004 to 2017, the bank was named Best Fixed Income House for 14 consecutive years by the Fund Managers Association of the Philippines, and from 2010 to 2013, it was awarded Best M&A House by The Asset for its work during an active period of telecommunications acquisitions and_sig- nificant banking-sector consolidation. In 2025, ING's strength in cross-border flows and currency solutions was reaffirmed when the bank was named the Philippines International Foreign Exchange Bank of the Year at the Asian Banking and Finance Wholesale Banking Awards.

SETTING THE STANDARD FOR GREEN AND SOCIAL FINANCE 

Sustainable finance has become one of ING most important areas of market leadership, with the bank pursuing an approach that integrates structuring expertise, advisory depth, and long-term partnership.

The journey began early. In 2015, ING supported pioneering renewable energy initiatives in the Philippines, including its advisory and financing role for the Burgos Wind Project. 

By 2019, ING was shaping the country’s sustainable finance landscape through a series of market-first transactions. In February 2019, ING advised on the Sustainable Finance Framework and arranged the Philippines’ first PhP ASEAN Green Bond — the P15-billion RCBC issuance. This was followed by the first PhP ASEAN Sustainability Bond in June 2019, also arranged by ING. In September, ING was one of the arrangers of RCBC's first USD Sustainability Bond, helping set new benchmarks for the local sustainable finance market. 

Since then, ING has continued to close several landmark sustainability transactions in the Philippines, including the country’s first corporate Green Bond issuance with Arthaland in 2020. In 2023, the bank acted as Green Structuring Advisor for Arthaland Corp's P3-billion ASEAN Green Bond, directing all proceeds toward certified sustainable residential developments to be built over the next decade. That year, ING was also honoured at the Europa Awards for Sustainability in the Philippines by the European Chamber of Commerce of the Philippines— recognition of the bank’s longstanding contribution to advancing sustainability aligned with global standards and the Philippine Development Plan. 

In 2024, the bank acted as joint lead arranger for Bank of the Philippine Islands’ P20.4-billion ASEAN Social Bond, which was recognised as "Best Social Bond” at The Asset Triple A Sustainable Finance Awards.

Momentum continued to build. In 2025, ING acted as Sole Sustainability Coordinator for Philippine National Bank’s US$300 million Sustainability Bond, which was recognised as “Best Sustainability Bond — Financial Institution” at The Asset Triple A Sustainable Finance Awards. The following year, ING expanded its support for large-scale sustainability-linked transactions, including its role as Sole Arranger and Sustainability Coordinator for BDO Unibank’s P115-billion ASEAN sustainability bond, which earned “Best ASEAN Sustainability Bond” in The Asset Triple A Sustainable Finance Awards 2026.

Most recently, ING supported another industry-defining achievement: SteelAsia became the first steelmaker in ASEAN to secure Moody's SQS2 “Very Good” rating for its Sustainable Finance Framework, with ING acting as Sustainable Finance Structuring Bank. This transaction stands out for its multi-taxonomy alignment, mapping across both EU and ASEAN sustainability taxonomies and embedding strong governance and eligibility criteria. It highlights how ING’s global network and deep sector expertise help clients navigate increasingly complex sustainability requirements while supporting industrial decarbonisation and meeting the expectations of international investors.

These accolades reinforce how ING’s structuring capabilities and long-term commitment to sustainability continue to differentiate the bank in the Philippine market. 

What sets ING apart is not simply the volume of its sustainable finance work, but the depth of engagement with clients. Rather than limiting efforts to green-labelled transactions, ING supports clients through transition planning, risk management, and advisory on credible sustainability pathways. As more Philippine corporates pursue growth strategies aligned with climate ambitions, the demand for sustainability-linked financing continues to expand, and ING remains well positioned to guide this shift.

PARTNERING THROUGH THE NEXT TRANSFORMATION

As we look toward 2026, Philippine businesses face an environment defined by heightened complexity and rapid change. Climate-related disruptions are occurring with greater frequency and severity, creating urgent pressure for corporates to reduce emissions and accelerate the transition to renewable energy. Regulatory expectations around governance, data privacy, and sustainability disclosures continue to evolve, while geopolitical uncertainties and shifting monetary cycles add new layers of market volatility.

Against this backdrop, ING Philippines has positioned itself to support clients in a more holistic way — combining strategic advisory, innovative capital solutions, and global connectivity across more than 40 markets. The bank’s leadership in sustainable bonds, social financing and supporting energy transition gives it a unique ability to back the country’s low-carbon transition and broader development priorities.

Digital transformation is an equally significant frontier. ING Hubs Philippines, established in 2013 as a global capability centre, has grown into one of the bank’s most technologically advanced sites. Its progress in automation, engineering, and artificial intelligence not only enhances ING's global operations but also underscores the bank's expertise in supporting Philippine corporates as they embark on their own digital transformation journeys.

LOOKING AHEAD: THE NEXT 35 YEARS:

As Philippine businesses pursue sustainable growth, renewable energy transition, and digital innovation, ING remains committed to being the partner they need for the long term. The bank will continue to bring international expertise, innovative financing structures, and advisory capabilities that help companies turn today’s challenges into tomorrow's competitive advantages. Together, we can help build a more resilient and sustainable Philippine economy — ‘one that creates lasting value for businesses, communities, and future generations.