ING has noted the announcements of the Dutch Central Bank (DNB)
regarding the Dutch bank DSB, which was placed under control of the
regulator today. ING regrets that no alternative was found to prevent
this measure.
Together with DNB, the Dutch banks will endeavour to ensure that the
consequences for DSB's customers will be resolved in an orderly
fashion. Among other things, the banks will try to support customers
by giving them access to payment accounts.
While ING has negligible direct exposure to DSB, it is a contributor
to the Dutch Deposit Guarantee Scheme. Under the scheme, savings and
deposits at Dutch banks are guaranteed up to an amount of EUR 100.000
per customer. In the event of a bank failure, the other banks
together cover the amount needed after assets and liabilities are
netted. At this stage it is too early to give an estimate of this
indirect exposure.
Press enquiries
Raymond Vermeulen
ING Group
+31 20 541 5682
Raymond.Vermeulen@ing.com
ING Profile
ING is a global financial institution of Dutch origin offering
banking, investments, life insurance and retirement services to over
85 million private, corporate and institutional clients in more than
40 countries. With a diverse workforce of about 110,000 people, ING
is dedicated to setting the standard in helping our clients manage
their financial future.
Important legal information
Certain of the statements contained herein are statements of future
expectations and other forward-looking statements. These expectations
are based on management's current views and assumptions and involve
known and unknown risks and uncertainties. Actual results,
performance or events may differ materially from those in such
statements due to, among other things, (i) general economic
conditions, in particular economic conditions in ING's core markets,
(ii) performance of financial markets, including emerging markets,
(iii) the frequency and severity of insured loss events, (iv)
mortality and morbidity levels and trends, (v) persistency levels,
(vi) interest rate levels, (vii) currency exchange rates (viii)
general competitive factors, (ix) changes in laws and regulations,
(x) changes in the policies of governments and/or regulatory
authorities, (XI) conclusions with regard to purchase accounting
assumptions and methodologies, (XII) ING's ability to achieve
projected operational synergies. ING assumes no obligation to update
any forward-looking information contained in this document.
This announcement was originally distributed by Hugin. The issuer is
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