By Anthony O. Goriainoff

ING Groep NV said that it expects to book a 300 million euros ($352.6 million) goodwill impairment charge for its second quarter, triggered by the coronavirus pandemic.

The Dutch bank said the accounting adjustment does not involve any cash outflow and will not hurt its capital ratios, as goodwill is already deducted from regulatory capital.

The bank said the charge is related to a number of past acquisitions.

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

(END) Dow Jones Newswires

July 28, 2020 01:31 ET (05:31 GMT)

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