EC wants ING repayment

City A.M. Reporter
THE EUROPEAN Commission (EC) wants ING to commit to lay out a firm plan to repay €3bn (£2.39bn) of the bailout money it received from the Dutch government in 2008, it emerged yesterday.

The bank was bailed out to the tune of €10bn in the financial crisis, but has only paid back €7bn of those funds.

An ING spokesman said the bank “remains committed to repaying the Dutch state as soon as possible,” but needs to “maintain strong capital ratios given the uncertain economic outlook.”