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Dutch banker killed wife and daughter before suicide: police

AMSTERDAM (Reuters) - A Dutch banker killed his wife and younger daughter before committing suicide, police said on Monday. Jan Peter Schmittmann, 57, who ran domestic operations at ABN AMRO when it was one of the largest banks in the world, was found dead at his home in the wealthy Amsterdam commuter town of Laren early on Saturday. Police said forensic work carried out over the weekend had given them a clear picture of the deaths of Schmittmann, his 57-year-old wife and 22-year-old younger daughter.

Former top Dutch banker found dead at home with wife and child

AMSTERDAM (Reuters) - A Dutch former top banker who came under fire for taking a large pay-off after the nationalization of his troubled bank was found dead along with his wife and daughter on Saturday in what police called a family tragedy. Jan Peter Schmittmann, 57, ran the domestic operations of Dutch bank ABN Amro between 2003 and 2007 and was widely criticized for landing an 8 million euro ($10.95 million) pay-off after the bank's collapse and subsequent nationalization.

ING bank reports profit plunge amid deep restructuring

Leading Dutch bank ING reported on Wednesday a 22.3-percent slump in net profit for 2013, blamed special factors and said it would pursue its deep restructuring programme this year. Amsterdam-based ING posted 3.2 billion euros ($4.3 billion) in net profit, down from 4.16 billion euros in 2012. Net profit for the fourth quarter of 2013 plunged by 63 percent to 539 million euros. However, this was much better than expected by analysts polled by Dow Jones Newswires, who had put forward 351 million euros.

Dutch bank boss gives employees lesson as brothel owner

The boss of nationalised Dutch bank ABN Amro dressed up in drag as a brothel owner for his annual speech to employees, calling for them to apply his "values". Former finance minister Gerrit Zalm dressed up as his "sister" Priscilla in a blue silk evening dress, brown wig, glasses and golden gloves for the bank's annual cabaret earlier this month. "You have to start with three core values: trust, expertise and ambition," she told an audience of around 7,000 ABN Amro employees, explaining the parallels between the banking and prostitution businesses.

ING says to sell Taiwanese asset management arm to Nomura

Leading Dutch bank ING is selling its Taiwanese asset management arm for an undisclosed amount amid restructuring its business to pay back a multi-billion-euro state loan, the bank said on Friday. "ING announced today that it has reached an agreement to sell ING Investment Management (IM) Taiwan ... to Japan-based Nomura Asset Management in partnership with a group of investors," ING said in a statement. "The transaction announced today is in line with ING's earlier announced strategy to divest its insurance and investment businesses," the Amsterdam-based group said.

DNB: Dutch economy taking turn for better

THE HAGUE, Dec. 9 (Xinhua) -- The Dutch economy is taking a turn for the better, with a modest growth of 0.5 per cent next year after contracting 1 per cent in 2013, the Dutch Central Bank (DNB) stated on Monday. In its new half-yearly forecast, the Central Bank expects that growth will reach 1 per cent by 2015, when employment will also rise for the first time since 2011. In addition, real disposable income is expected to increase significantly in 2015, after seven years of contraction.

ING may leave state rescue two years early

By Sara Webb AMSTERDAM (Reuters) - ING <ING.AS> said it should complete its restructuring two years ahead of schedule, meaning the Dutch banking and insurance group could be one of the first euro zone casualties of the 2008 global crisis to emerge from a state rescue. Cutting free of the state is seen as an important step for ING, removing a European ban on acquisitions and giving it greater pricing flexibility so it can compete more easily.

ING Q3 profit falls following Korean asset sale; new CEO says 'thanks' for 2008 state aid

AMSTERDAM - 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. Jan Hommen, the executive who stepped in after the bailouts to oversee ING's restructuring, retired on Oct. 1. His replacement, Ralph Hamers, said Wednesday that ING is "grateful" for the taxpayer money.

ING to unload 11.5 percent stake in US-based unit

Dutch banking and insurance giant ING on Monday took a step closer to separating with its US-based insurance arm, saying it planned on selling a further 11.5 percent of its shares in the unit. The sale of some 30 million shares in ING US through an initial public offering will see the Amsterdam-based ING's stake fall from 71.0 to around 60.0 percent, the group said in a statement. "ING Group intends to use the proceeds of the planned transaction for the reduction of the Group's core debt," it said.

ING sells South Korean insurance arm to private equity firm MBK Partners for $1.66 billion

AMSTERDAM - ING Groep NV says it has agreed to sell a 90 per cent stake in its South Korean insurance arm to private equity firm MBK Partners for around $1.66 billion (1.24 billion euros). ING said Monday it would book an after-tax loss of 950 million euros on the deal in the third quarter.
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