agreed to acquire the deposits, mortgages and business assets of Dutch bancassurer
Summary: DUBLIN - Bancassurer
Irish Life & Permanent (IL&P) reported a tenfold jump in pretax losses in the first half on the back of rising impairments and investment losses, but said it was confident its banking unit had a profitable future.
ING Group NV will split in two, shrinking itself into a smaller Europe-focused bank, in the most striking example yet of the deep changes the EU wants to force on banks that received state aid.
European shares were higher in early trade on Monday, with banks and oils taking the lead and outweighing a fall in Dutch bancassurer
was rescued via a capital injection of EUR 6.
The bank is dismantling the bancassurer
model as it divests from insurance and investment management and prepares to repay the loans taken as bailout aid after the crisis.
6m) for the stake in the non-life bancassurer
, Fortis said on Thursday.
Analysts have suggested Dutch bancassurer
ING and Belgian/Dutch group Fortis as eligible partners.
ING is prepared to sell it, even if it means breaking up its famous bancassurer
AMSTERDAM: Dutch bancassurer
ING Group NV on Monday said it would split itself in two, pay back 50 percent of its aid from the Dutch state early and launch a 7.
With SAS, the bancassurer
, which focuses on home markets in Belgium and Central and Eastern Europe, can obtain a consistent and quick view of overall risk exposures across risk types, departments and geographies.
The move comes after other leading Europeans banks, including UK's Lloyds Banking Group Plc (LSE: LLOY) (NYSE: LYG), Dutch bancassurer
SNS Reaal NV (SR.