ING CEO: May Seek Better Terms Later On EUR10 Billion State Aid

Financial services giant ING Groep NV (ING) isn't in active talks with the Dutch government on improving the terms of the EUR10 billion aid it received last year to strengthen its core capital, but may seek better terms in the future, Chief Executive Jan Hommen said Wednesday.

Hommen said banks elsewhere have received better terms on their government bailout packages, without providing details.

He added that he hopes for more clarity by year-end from the European Commission on its regulatory review of government aid to ING.

Hommen reiterated that discussions with the commission on the restructuring plan required by ING to gain European Union approval of the aid package will begin in the coming weeks, and as of yet the outcome of the discussions is uncertain.

He told a press conference the company may have to adapt its restructuring plans to meet whatever edict is laid down by the commission.

Earlier Wednesday, Hommen said the E.U.'s decision could prompt ING to make significant changes, but didn't elaborate.

Company Web site: www.ing.com

-By A.H. Mooradian, Robin van Daalen and Bart Koster, Dow Jones Newswires; [phone]; [e-mail]