OREANDA-NEWS. ING announced today that it will adopt the framework for compensation of Dutch SME clients with interest rate derivatives, as presented by the committee of independent experts. As a consequence, ING expects to increase its provision for this issue by around EUR 150 million, to be booked in the second quarter of 2016.

As described in ING's 2015 Annual Report, ING and other banks have been reviewing derivative contracts which were sold in previous years to Dutch SME clients. In March 2016 the Minister of Finance appointed a committee of three independent experts to determine a uniform framework to assess the derivative contracts in scope in order to compensate clients where appropriate.

ING is a global financial institution with a strong European base, offering banking services through its operating company ING Bank. The purpose of ING Bank is empowering people to stay a step ahead in life and in business. ING Bank's more than 52,000 employees offer retail and wholesale  banking services to customers in over 40 countries.

ING Group shares are listed (in the form of depositary receipts) on the exchanges of Amsterdam (INGA NA, ING.AS), Brussels and on the New York Stock Exchange (ADRs: ING US, ING.N).

Sustainability forms an integral part of ING's corporate strategy, which is evidenced by ING Group shares being included in the FTSE4Good index  and in the Dow Jones Sustainability Index (Europe and World) where ING is among the leaders in the Banks industry group.