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BRIEF-ING to pay 1.225 bln euros to Dutch state on 31 March 2014
March 25, 2014 / 7:42 AM / in 4 years

BRIEF-ING to pay 1.225 bln euros to Dutch state on 31 March 2014

AMSTERDAM, March 25 (Reuters) - ING Groep NV : * ING to pay EUR 1.225 billion to Dutch state on 31 March 2014 * The payment includes a EUR 817 million repayment of core tier 1 securities and EUR 408 million in premiums and interest * Payment is EUR 100 million higher than originally scheduled in amended ec restructuring plan * Total amount paid to Dutch state will be EUR 12.5 billion including EUR 9.3 billion in principal and EUR 3.2 billion in interest and premiums * Fourth and final tranche, which will be paid ultimately in May 2015, will amount to EUR 1.025 billion * Payment of EUR 1.225 billion, which has been approved by Dutch central bank, will be funded by dividend to be upstreamed from ing bank to ing group * Dividend will lead to a reduction of the bank’s core tier 1 ratio of approximately 40 basis points

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