USEUROPEAFRICAASIA 中文双语Français
Home / Mosaic

ING's $10.6b asset sale to reduce risks

China Daily | Updated: 2009-04-10 07:49

Dutch ING plans to sell operations worth up to 8 billion euros ($10.6 billion) to reduce risk, focus its bank on Europe, and manage its banking and insurance separately, boosting its shares yesterday.

ING, which was loss-making in 2008 and received a 10 billion euro injection from the Dutch state last October, said in a statement it wants to shed non-core activities worth 6 billion to 8 billion euros, or 10 to 15 businesses.

ING, which also said its insurance business would in future focus on life insurance and retirement services globally, had previously targeted divestments of 2 billion to 3 billion euros, and had already sold a stake in ING Canada.

ING's $10.6b asset sale to reduce risks

Today's Top News

Editor's picks

Most Viewed

Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US