Netherlands News

ING in New Deal with EU over State Aid, Punishment

The Netherland’s based ING Groep NV has agreed to a deal with European regulators on when it will repay the remaining €3 billion ($3.84 billion) it still owes in state aid. The bank, which fell afoul of EU laws when …

Barclays Bank Shows Retail Intent with Takeover of ING Direct

Barclays’ new chief executive set the course firmly towards retail banking on Tuesday with his first deal since replacing Bob Diamond – the takeover of ING’s British savings and loan business and its 1.5 million customers. Antony Jenkins, previously head …

Moody’s Changes EU Rating Outlook to Negative

Moody’s Investors Service has changed its outlook on the ‘Aaa’ rating of the European Union to negative, warning it might downgrade the bloc if it decides to cut the ratings on the EU’s four biggest budget backers: Germany, France, UK …

Swiss Re Corporate Solutions Opens Netherlands for Benelux Market

Swiss Re Corporate Solutions announced that it has opened an office in Amstelveen, the Netherlands, to “reinforce its presence in the Benelux region. The office will provide insurance solutions to large and upper-middle market corporations domiciled in the region, offering …

ING Sees Quick Sales in Asian Insurance Break-up

Dutch banking and insurance group ING now expects a quick sale of parts of its $7 billion Asian insurance business as it seeks to repay state aid and meet European requirements for its 2008 state bail-out, its chief executive said …

ING Considering Sale of UK, Canadian Online Banks

The Netherlands-based group ING, which has been forced to sell assets in return for receiving state aid during the financial crisis, said it is considering the sale of its UK and Canadian online banking units, estimated to be worth about …

ING in Restructuring Talks with EC, Dutch Government

Dutch bank and insurer ING, forced to sell assets in return for receiving state aid during the financial crisis, said on Tuesday it was in talks with the Dutch government and the European Commission over an amended restructuring plan. The …

European Commission Approves ING Restructuring; Opens New Probe

The European Commission on Friday approved a restructuring plan for Dutch bank and insurer ING made during the financial crisis as compatible with the European Union’s internal market, but also opened an investigation into amendments to the plan. Friday’s approval …

ING Puts $775 Million Thailand Bank Stake up for Sale – Sources

ING Groep NV has put its roughly $775 million stake in Thailand’s TMB Bank Pcl on the block as the bailed-out Dutch financial services group pushes ahead with Asian divestments, sources familiar with the matter told Reuters. ING, which is …

S&P Revises Outlook on AEGON to Stable; Affirms Ratings

Standard & Poor’s Ratings Services has revised its outlook on AEGON N.V. and its operating subsidiaries to stable from negative, and has affirmed the ‘AA-’ long-term counterparty credit and insurer financial strength ratings on AEGON’s core subsidiaries and the ‘A-/A-2′ …