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Exhibit 23(c)
CONSENT OF MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
We hereby consent to the use of our name and to the
description of our opinion letter, dated April 30, 2000 under the captions
"Summary - The Merger", "The Merger -- Background of the Merger", "--
ReliaStar's Reasons for the Merger" and "-- Opinion of Financial Adviser" in,
and to the inclusion of such opinion letter as Appendix C to the
Prospectus/Proxy Statement, which Prospectus/Proxy Statement is part of the
Registration Statement on Form F-4 of ING Groep N.V. dated on or about June
27th, 2000. By giving such consent we do not thereby admit that we are experts
with respect to any part of such Registration Statement within the meaning of
the term "expert" as used in, or that we come within the category of persons
whose consent is required under, the Securities Act of 1933, as amended, or the
rules and regulations of the Securities and Exchange Commission promulgated
thereunder.
Dated: June 27, 2000
MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
By: /s/ B. Andrew Hoover
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Vice President
