ING pays back $1.46 billion in bailout money

Europe November 26, 2012

ING pays back $1.46 billion in bailout money

AMSTERDAM (AP) — ING Groep NV says it has repaid the Dutch state €1.125 billion ($1.46 billion) arising from its 2008 bailout.

The payment was €750 million in principle and €375 million in interest. ING still owes a final €1.2 billion — plus interest — from its €10 billion bailout. Earlier this month the company said it had struck a new deal with European regulators to compensate for having needed state aid, including a new repayment schedule and more time to dispose of its European and U.S. insurance operations.

ING said its core Tier 1 ratio — an important measure of solvency for banks — has fallen by about 0.75 percent to 11.8 percent as a result of the repayment.

Subjects
- Business
Locations
- Western Europe,
- Europe,
- Netherlands
Companies
- ING GROEP N.V.

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