2008-10-20bloomberg.com

ING will scrap this year's final dividend and sell the government non-voting preferred securities that won't dilute existing shareholders and will lift the bank's core Tier 1 capital to about 8 percent, the Amsterdam-based company said today in a statement. The securities pay 8.5 percent annual interest, Dutch Finance Minister Wouter Bos told reporters today.

...

ING had Core Tier 1 capital, an indicator of a company's ability to absorb losses, of 6.5 percent as of Sept. 30, it said.


Lijit Search

Comments: Be the first to add a comment

add a comment | go to forum thread