ISCOVER
The Dutch government will inject €10 billion ($A19.55 billion) into ING, it announced on Sunday, as part of its plans to make capital available to financial enterprises that are fundamentally sound and viable.
The investment will bring ING’s core tier-1 ratio to around 8 per cent and will strengthen its capital position to navigate the current difficult market.
The announcement follows ING’s forecast on Friday that it expects a €500 million euro ($A977.33 million) net loss in the third quarter as a result of the financial crisis.
Published: 20-10-08
You’re out of free articles for this month
To continue reading the rest of this article, please log in.
Create free account to get unlimited news articles and more!
Looking for more benefits?
Become a Premium Member.
JOIN THE DISCUSSION