ING to Book 2Q EUR300 Million Goodwill Impairment Charge
July 28 2020 - 1:46AM
Dow Jones News
By Anthony O. Goriainoff
ING Groep NV said that it expects to book a 300 million euros
($352.6 million) goodwill impairment charge for its second quarter,
triggered by the coronavirus pandemic.
The Dutch bank said the accounting adjustment does not involve
any cash outflow and will not hurt its capital ratios, as goodwill
is already deducted from regulatory capital.
The bank said the charge is related to a number of past
acquisitions.
Write to Anthony O. Goriainoff at
anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
July 28, 2020 01:31 ET (05:31 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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