Whilst we hope that the news that ING is getting a cash injection of 10 million euros from the Dutch Government isn’t a sign it’s in trouble, it’s worth keeping an eye on this news over the next couple of days.
There is a little hysteria starting on the MoneySavingExpert forum, and it’s difficult to know whether some of the stories of online accounts being frozen and the like are just people getting a little over-excited, but most expert commentary would seem to suggest that it’s little more than a “buffer” for ING.
It would definitely be ironic (if not particularly funny for those with savings with them) if the bank that rescued the failing Icelandic bank, Kaupthing Edge, was itself found to be in trouble.
There’s a full press release from ING here, which also mentions that their share dividend for later in the year have been cancelled, so expect their share price to fall on the markets this week.