ING loses €712 million

AMSTERDAM – Dutch bank ING has posted a €712 million loss for the fourth quarter 2009. The bank said the loss was mainly due to the €930 million set aside to repay the Dutch government for its bailout of the firm during the financial crisis. The results are an improvement on Q4 2008, when ING lost €3.7 billion. The bank said 2010 would be a “year of transition” as the firm seeks to separate its banking and insurance arms.

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