Friday, 7 November 2014 - 13:06
ING repays €1b government bailout; Dijsselbloem praises
As promised earlier this week, ING today made the final repayment of 1,025 billion euro of State Support. €683 million of this is state support, the rest is premium and interest. With this ING has repaid the full capital injection of 10 billion euro, received in 2008, to the Dutch State. "ING has in recent years made significant efforts to bring the bank on the current stable level and to pay back the full support earlier than plan and for this deserves appreciation." said Minister Dijsselbloem. "Now ING does not enjoy any other form of state support." In 2008 ING received a capital injection from the state to offer resistance to the large shocks in the international financial markets and the possible damage to the Dutch economy. The results of the recent Asset Quality Review and the stress tests by the European Central Bank prompted ING to now make the final repayment of 2015.