AMSTERDAM, Sept 24 The European Commission wants
Dutch bank and insurance group ING to commit to a
schedule for repaying 3 billion euros ($4 billion) of Dutch
state aid, newspaper Het Financieele Dagblad said on Monday.
ING got 10 billion euros in state aid in 2008 at the height
of the credit crisis, and still needs to pay back 3 billion
It also faces certain restrictions that prevent it from
offering the most competitive savings and mortgage products and
ING and the Dutch state are in talks with the European
Commission, an ING spokesman said.
"ING remains committed to repaying the Dutch State as soon
as possible, including another tranche this year, while
maintaining strong capital ratios given the uncertain economic
outlook," he said.
The Dutch central bank is not in favour of a repayment
schedule for ING due to the uncertain economic environment, the
ING, which is splitting its banking and insurance operations
as one of the conditions set by the European Commission for
approving the state aid, wants more time to sell the insurance
businesses, the paper said.
ING was hopeful it could come to an agreement with the
European Commission by the end of the year, the paper said.
(Reporting by Gilbert Kreijger; Editing by Greg Mahlich)
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