Filed Under:Annuities, Variable

ING profit dented by loss on sale of Korean arm

Amsterdam's business district. AP Photo/Peter Dejong
Amsterdam's business district. AP Photo/Peter Dejong

AMSTERDAM (AP) — ING Groep NV saw its third-quarter profit fall sharply after it booked a loss on the sale of operations in South Korea.

However the company’s new chief executive said Wednesday profits on an underlying basis were stable and that the company is close to repaying rescue money it received from the Dutch state in times of crisis in 2008 and 2009.

Copyright 2016 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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Nichole Morford

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