ING reaction to situation at Dutch bank DSB
(Thomson Reuters ONE) - ING has noted the announcements of the Dutch Central Bank (DNB)regarding the Dutch bank DSB, which was placed under control of theregulator today. ING regrets that no alternative was found to preventthis measure.Together with DNB, the Dutch banks will endeavour to ensure that theconsequences for DSB's customers will be resolved in an orderlyfashion. Among other things, the banks will try to support customersby giving them access to payment accounts.While ING has negligible direct exposure to DSB, it is a contributorto the Dutch Deposit Guarantee Scheme. Under the scheme, savings anddeposits at Dutch banks are guaranteed up to an amount of EUR 100.000per customer. In the event of a bank failure, the other bankstogether cover the amount needed after assets and liabilities arenetted. At this stage it is too early to give an estimate of thisindirect exposure.Press enquiriesRaymond VermeulenING Group+31 20 541 5682Raymond.Vermeulen(at)ing.comING ProfileING is a global financial institution of Dutch origin offeringbanking, investments, life insurance and retirement services to over85 million private, corporate and institutional clients in more than40 countries. With a diverse workforce of about 110,000 people, INGis dedicated to setting the standard in helping our clients managetheir financial future.Important legal informationCertain of the statements contained herein are statements of futureexpectations and other forward-looking statements. These expectationsare based on management's current views and assumptions and involveknown and unknown risks and uncertainties. Actual results,performance or events may differ materially from those in suchstatements due to, among other things, (i) general economicconditions, 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 regulatoryauthorities, (XI) conclusions with regard to purchase accountingassumptions and methodologies, (XII) ING's ability to achieveprojected operational synergies. ING assumes no obligation to updateany forward-looking information contained in this document.http://hugin.info/130668/R/1346953/323704.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 12.10.2009 - 14:53 Uhr
Sprache: Deutsch
News-ID 6805
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