ING Americas, part of Amsterdam- based ING Group, today reported improved results for the first quarter 2002, contributing 24% to ING Group’s quarterly pre-tax results which were announced earlier today in Amsterdam.

ING Americas posted pre-tax results of US$320 million compared to US$254 million in the first quarter of 2001.

Major integration activities in the United States, Canada, Mexico and Chile, and continued cost controls have resulted in expense reductions and have advanced ING Americas’ overall integration objectives.

“While we are gratified with ING Americas’ results for the first quarter, we remain cautious about market and economic recovery throughout the Americas,” said Glenn Hilliard, chairman and CEO of ING Americas.

Results for Canada’s businesses were US$8 million for the quarter, down from US$10 million a year ago mainly due to a decrease in realized equity gains.

The firm said Integration of the recently acquired Zurich business into ING Canada continued on schedule in the first quarter.