ING pays EUR 1.225 billion to Dutch State

ING pays EUR 1.225 billion to Dutch State

ING pays EUR 1.225 billion to Dutch State

The FINANCIAL -- ING has paid EUR 1.225 billion to the Dutch State, including EUR 817 million repayment of core Tier 1 securities and EUR 408 million in interest and premium, according to ING.

 

This payment was approved by the Dutch Central Bank. Today’s transaction brings the total paid to the Dutch State to EUR 12.5 billion, including EUR 9.3 billion in principal and EUR 3.2 billion in interest and premium.

The payment of EUR 1.225 billion has been funded by a dividend from ING Bank to ING Group. This upstream will lead to a reduction of the Bank’s core Tier 1 ratio of approximately 40 basis points, according to ING.