Degussa Bank was purchased by a group consisting of the private bank MM Warburg & Co along with other various private investors, as previously announced on November 27, 2006.
For ING Group, the transaction will result in a net accounting loss of approximately E15 million but will free up around E120 million in Tier-1 capital and result in an increase of four basis points in the Tier-1 ratio of ING Bank.
