ING To Pay Dividend Over FY15; NN Group Sets Medium-Term Goals

(RTTNews) - ING Group 's (ING) Chief Executive, Ralph Hamers, will address the Goldman Sachs 18th Annual European Financials Conference in Madrid, in which he would explain on the bank's strategy, first announced on March 31, 2014.

The Dutch financial firm will begin paying a dividend over the fiscal year 2015, with its unit NN Group's IPO substantially completing the repositioning of ING as a pure bank.

Meanwhile, NN Group has set medium-term goals to deliver on earnings growth and cash generation, expecting a reduction in administrative expenses in Netherlands Life, Non-life and Corporate/Holding by 200 million euros by 2016 versus 2013 reported; and an increase in the net operating return on equity of the ongoing business. For the medium term, NN Group targets annual operating result before tax of the ongoing business growth rate on average of 5-7 percent.

Further, NN Group aims to maintain leverage and fixed charge cover ratios consistent with single 'A' financial strength rating.