ING backs Greece bail-out package

On 21 July 2011, EU leaders announced plans for a €109 billion emergency package to assist Greece in curbing their debt crisis. Along with naming contributions from EU emergency funds, this package also counts on additional participation from the European financial sector, including ING.

ING CEO Jan Hommen is pleased with this solution and believes it will stabilize financial markets.

‘I am very satisfied that European leaders have taken such an important step,’ said CEO Jan Hommen. ‘These crucial measures will not only provide relief for Greece itself, but will also serve a higher purpose as a structural solution that can stabilize the European economy and financial markets at large.’

ING supportive of contributions

Having participated along with other banks in discussions leading up to this agreement, ING further supports the significant contributions asked from banks and other financial institutions.

CEO Jan Hommen: ‘We stand behind this decision and regard it to be in the interest of financial institutions themselves as well. ING will now be studying the proposal to assess exactly how our company will contribute.’

Solid capital position

ING has an actively managed and well-diversified investment portfolio spread across many countries throughout the world, with Greece only taking a small and manageable percentage of these investments.

The company has further created a solid capital position thanks to strategic measures such as deleveraging our balance sheet and recent divestments of non-core strategic businesses – a position confirmed by having passed the recent EBA stress test.