ING to Join European Bank Deals in ‘Medium Term,’ Bester Says

ING Groep NV is likely to pursue acquisitions at some point to remain among Europe’s biggest banks, the head of its wholesale business said.

“What I think Europe needs is more larger banks, effectively looking at a more pan-European basis,” Andrew Bester said Friday in a Bloomberg TV interview from Singapore. “We do see ING being a participant in that in the medium-term.”

The comments highlight how many European banks are seeking growth through acquisitions after a burst in profitability across the sector in recent years amplified their ability to spend. Several banks have since launched takeover offers, particularly in ...