Share Name Share Symbol Market Type
ING Groep NV EU:INGA Euronext Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.19 -1.44% 13.046 13.02 13.048 13.186 12.788 13.18 16,837,887 16:40:00

ING to Compensate Dutch Consumer Loan Customers, Take EUR180 Million Provision

20/10/2021 7:51am

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By Jaime Llinares Taboada


ING Groep NV said Wednesday that it will compensate Dutch customers with consumer loans where the variable interest rate didn't sufficiently follow market rates.

The company will book a 180 million euro ($209.4 million) provision in its third quarter results for the compensation and associated costs.

The lender said this is expected to concern around 10% of the contract for its floating-rate credit products in the Netherlands.


Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT


(END) Dow Jones Newswires

October 20, 2021 02:36 ET (06:36 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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