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ING to pay back state aid

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ING to pay back state aid

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Dutch bank and insurer ING has confirmed it will repay five billion euros of state aid later this month.

ING’s shares rose after it said the Dutch government is ready to negotiate more favourable terms on the other five billion euros it owes.

ING had always said it wanted to repay the bailout money as fast as possible to escape government oversight and give it more freedom on acquisitions, pay and dividends.