As of 1 January 2005, Deutsche Postbank AG acquires the London branch of ING-BHF Bank. The contract regulating this was signed on 23 December 2004. With its 58 staff, the ING-BHF London branch operates primarily in the area of commercial property financing in Great Britain.

With the lending business of the London branch, Postbank can invest part of its deposits surplus at attractive margins. At the same time, the acquisition supplements the extensive experience Postbank has in the area of property financing, augmenting and diversifying the customer loan portfolio.

Commercial property financing at the London branch of ING-BHF focuses on the Greater London area and southeast England. Customers are primarily international and London-based firms. Total lendings stand at €1.1 billion (status on 09.30.2004). The loan portfolio has a favorable risk structure, the loan duration is between three and five years. Postbank intends to continue the commercial property lending business of the unit and expand it on a selective basis. It was agreed to observe secrecy in respect of the purchase price.