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| ING to get Netherlands cash boost | ING to get Netherlands cash boost |
| (20 minutes later) | |
| Dutch banking and insurance company ING is to receive a cash injection from the government of the Netherlands. | Dutch banking and insurance company ING is to receive a cash injection from the government of the Netherlands. |
| The move follows a weekend of meetings with Dutch finance officials, after ING revealed it expects to make a 500m euro ($670bn; £387bn) third quarter loss. | |
| Details of the deal would be released later on Sunday, officials said. | Details of the deal would be released later on Sunday, officials said. |
| The Dutch government has pledged to make 20bn euros available to protect the financial sector from the effects of the global credit crisis. | The Dutch government has pledged to make 20bn euros available to protect the financial sector from the effects of the global credit crisis. |
| The ING rescue deal was agreed with the Dutch finance ministry and the country's central bank and was due to be confirmed at a news conference on Sunday evening. | |
| ING is one of the world's largest banks, with more than 75 million customers worldwide, Reuters news agency says. | |
| The bank has some 338 million euros in deposits, Reuters says, and offers banking, insurance, asset management, leasing and real estate services. | |
| ING has a prominent presence in the UK, with thousands of savers depositing their cash in the group's ING Direct banking service. | |
| ING Direct also took over responsibility for £2.5bn of deposits of 160,000 UK customers with the Icelandic bank Kaupthing Edge - part of Iceland's largest bank, which failed almost two weeks ago. |