ING’s Turkey subsidiary has launched a savings
account which requires no minimum deposit and offers a high
promotional interest rate of 9.5%.

ING Direct’s Orange account – which is already
available in Europe and the US – will offer Turkish
customers 9.5% for deposits, falling to 8.5% after a
promotional 90 day period.

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The deputy general manager of consumer banking
at ING Turkey, Cenk Tabakoglu, said that most Turkish savers do not
make long term investments and added that the bank wants to
encourage long-term saving with the Orange Account.

ING has operated in Turkey since acquiring
Oyak Bank in 2007. The Dutch-based ING has set its ambitious growth
targets for its Turkish unit and regards the local market as
promising sustainable growth in the long term.

ING is currently the 8th largest bank in
Turkey by assets; ING is targeting a top five positon in the
country in the medium to long term.

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