ING to split and pay off aid

The government-backed cash injection came in October 2008 just before ING reported its first loss due to the credit crunch. Chief executive Jan Hommen says the measures will "provide a clear plan for resolving the uncertainty created by the financial crisis". By 2013 ING will also sell its US internet banking arm, ING Direct USA, a condition in order to acquire European Commission approval for its current restructuring programme, "Back to Basics". The restructuring has cost 10,800 job this year to date. However ING also says it expects third-quarter profits of about 750m euros, ...