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?10 billion government boost for ING

Staff Reporter 1 minute read

The Dutch government will inject €10 billion ($A19.55 billion) into ING, it announced on Sunday, as part of its plans to make capital available to financial enterprises that are fundamentally sound and viable.

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The investment will bring ING’s core tier-1 ratio to around 8 per cent and will strengthen its capital position to navigate the current difficult market.

The announcement follows ING’s forecast on Friday that it expects a €500 million euro ($A977.33 million) net loss in the third quarter as a result of the financial crisis.

Published: 20-10-08

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?10 billion government boost for ING
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