1. Rutger Koopmans General Manager ING Wholesale Banking Netherlands 9 November 2005, Brussels

2. 1 Key message India is ‘hot’, but already well known to ING “India” hype may lead to losing sight of key issues The long term view could become ‘a fata morgana’: ‘the long and winding road’ (a steep learning curve) Embrace the cultural differences with knowledge Keep pace & manage expectations: things to do!!

3. 2 ING’s perspective: ING in India India is a rapidly growing economy with one of the fastest growing financial services industries in the world India is the second fastest growing insurance market in Asia, second only to China ING has been in India since 1990 and is the only global player in banking, asset management & insurance with non-Indian management control ING Vysya Bank has the largest banking network amongst international players in India ING Vysya Life Insurance is one of the fastest growing private players in the Indian insurance market

4. 3 ING Group in India – Key Milestones

5. 4 Universal banking franchise ING Vysya Bank Overview Regional Offices: 11 Key statistics North & East Region # of Branches- 33 West Region # of Branches- 30 AP Region # of Branches-196 South (ex AP) # of Branches- 193 Branches: 454 Employees: 4,871 ATMs: 79 (access to more than 9,000 shared ATMs) Branch Banking Small & Medium Enterprises Agri & Social Banking Private Banking Distribution & Marketing Wholesale BankRetail Bank Corporate & Investment Banking Emerging Corporates Banks & Financial Institutions Financial Markets IVB Position (Private PositionBankShare 1ICICI Bank4.3% 2HDFC Bank1.9% 3UTI Bank1.3% 4Citibank1.3% 5Stanchart1.3% 6J&K Bank1.2% 7HSBC1.0% 8Federal Bank0.9% 9IndusInd Bank0.7% 10ING Vysya0.7% 11IDBI Bank0.6% 12Karnataka Bank0.6% 17 ABN Amro0.4% 21 Bank of Punjab0.3% 33 BNP Paribas0.1% IVB Position (Private+ Foreign Banks) Market share based on size of deposits as on 31/3/04

6. 5 ING Vysya Bank Capabilities Leverage unique position as the first “Indian International” bank Combines strengths of the erstwhile Vysya Bank and ING Group to create an integrated platform delivering a complete range of banking products to Indian and Global clients Integrated approach allows ING Vysya Bank to follow a client centric approach and offer a range of products and services leveraging local and international strengths Strong Rupee Balance Sheet Broad based India presence Wide commercial banking suite Strong Rupee Balance Sheet Broad based India presence Wide commercial banking suite International Investment Banking Capabilities Strong Corporate Banking Franchise Global Network International Investment Banking Capabilities Strong Corporate Banking Franchise Global Network

7. 6 GDP Growth (%age) +4.0% +8.2% +6.9% +6.5% Exports & Imports (USD bn) Source: Economic Survey, Reserve Bank of India, Forecasts - Brokerage Report FX Reserves (USD bn) Index of Industrial Production Note: Index of Industrial Production, Base 1993-94 = 100 +6.9% +5.7% India: Strong Macroeconomics Fundamentals +8.3%

8. 7 India: the challenges of a growing economy High fiscal deficit Inflationary pressure Increasing government debt burden A strong democracy, slow decision making process Weak infrastructure (roads, airports, water management) Maintaining pace of reform (upgrading public systems) Bureaucracy, corruption, complex/antiquated regulations

9. 8 “India” beyond the opportunities Keep a close eye on these factors Do not get hung up in long-term scenario predictions Focus on how to realize the “India” challenge

10. 9 Embrace the differences India has a unique cultural and religious heritage It takes time to understand the history, the social demography and the cultural values

11. 10 Adopt and Adapt to the changes Indian businessmen in Europe have to adapt to a different European outlook on India Business relations have changed and will change, a new balance will occur Indian businessmen are part of ‘the Indian hype’ but: don’t overlook Europe’s potential

12. 11 Keep pace & Manage expectations India is managing growth in a careful and diligent way; manage your expectations in the same way Looking ahead, the potential for economic and political stability in India is enormous, but we must be appreciate and respect that the road ahead inhibits a steep learning curve The outcome is clear, but there is a way to go!

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