ING Groep Repays EUR1.23bn To State


News: Netherlands-based ING Groep has repaid an additional EUR1.23bn (US$1.68bn) to the Dutch state, according to a statement issued by the firm on March 31 2014 (Reuters). The transaction brings the total amount paid to the state to EUR12.5bn (US$17.07bn), comprising EUR9.3bn (US$12.7bn) in principal and EUR3.2bn (US$4.37bn) in interest. The payment was financed by a dividend from ING to ING Groep. The payment slashed the lender's core tier 1 capital ratio by about 40 basis points.

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Geography: Netherlands