Dutch Banking and Insurance Company ING Gets Government Cash

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Dutch banking and insurance company ING is to receive a 10bn euro ($13.4bn; £7.7bn) government cash injection.

The deal was agreed with the finance ministry and the central bank, which will give the government shares in ING.

The government will make at least 8.5% interest per share. The bank has said it expects to make a 500m euro ($670m; £387m) third-quarter loss.

The government is to make 20bn euros available to protect the financial sector from the credit crisis.

ING is one of the world's largest banks, with more than 85 million customers worldwide, according to its website.

The bank has some 338bn euros in saving and current account deposits, Reuters news agency says, and offers banking, insurance, asset management, leasing and real estate services. - BBC News