杨倩雯

YangQianWen

　　荷兰国际集团（ING.AS）正处售卖资产、兑现与欧盟之间承诺的进行时。近日，ING宣布以大约5亿欧元出售了韩国KB金融集团（KB Financial Group，105560.KS）5%的股权。

The Dutch international group(ING. AS)Are selling assets/Cash and the eu commitment between the progressive.recently,ING announced about 500 million euros to sell the South Korea KB financial group(KB Financial Group,105560. KS)5% of the equity.

　　ING宣布，此次将所持KB金融集团5%股份（约合1940万股）出售给了机构投资者，通过大宗交易完成，并为ING带来大约1亿欧元的税后收益。另外，此次交易将使ING银行的一级核心资本充足率从2012年末11.9%的基础上提升8个基点。

ING announced,This will be the KB financial group 5% stake(About 19.4 million shares)Sold to the institutional investors,Through the bulk transaction complete,And to bring ING about 100 million euros of disposable income.In addition,The deal will make bank ING primary core capital adequacy ratio from 11.9% at the end of 2012 on the basis of eight base ascension.

　剥离保险和资产管理业务 Stripping insurance and asset management business

　　据悉，ING在1999年通过投资韩国住宅商业银行（H&CB）得到KB金融集团此部分的股权。而KB金融集团目前是韩国最大商业银行国民银行的母公司。ING称，此次交易是为了更好地实现其收缩产业进而加强资本地位的战略目标。而此次交易并不会影响ING在韩国的商业银行业务。

It is reported,ING in 1999 through the investment South Korea residential commercial Banks(H&CB)Get KB financial group this part of the equity.And KB financial group is now South Korea's largest commercial Banks national bank of the parent company.ING says,The deal is in order to better realize its shrinkage industry and strengthen capital status of the strategic objectives.And the deal will not affect ING in Korea commercial banking.

　　同时，ING称其早前宣布剥离亚洲保险和资产管理业务正在进行中，计划剥离的包括ING的韩国寿险公司以及与KB金融集团合营的KB寿险公司49%股份。

At the same time,ING says it earlier announced stripping Asian insurance and asset management business is underway,Plan stripping include ING Korean life insurance company and KB financial group joint venture life insurance companies 49% share of KB.

　　事实上，近年来，ING已多次出售多地的资产和业务。2009年末，ING将其持有的在华保险公司太平洋(601099,股吧)安泰人寿保险有限公司50%股权出售给了建设银行(601939,股吧)（601939.SH），因此有了现在的建信人寿保险有限公司。

In fact,In recent years,ING has repeatedly to sell more assets and business.By the end of 2009,ING by the Pacific Ocean insurance company in China(601099,guba)Antai life insurance co., LTD. 50% stake sale to the construction bank(601939,guba)(601939. SH),Therefore the present building believe life insurance co., LTD.

　　2011年6月，美国第一资本金融公司宣布以62亿美元现金和28亿美元股票完成对ING美国网上银行业务ING Direct USA的收购。

In June 2011,The first American capital financial company announced to $6.2 billion in cash and $2.8 billion for the stock finish ING online banking ING Direct USA acquisition.

　　2011年7月，ING再度宣布同意将旗下拉丁美洲大多数保险业务售予哥伦比亚大型财团和投资管理公司Grupo de Inversiones Suramericana SA，交易总值约27亿欧元，这其中包括智利、墨西哥、乌拉圭、秘鲁和哥伦比亚的养老金、寿险及投资管理部门。

In July 2011,ING once again announced it had agreed to its Latin America most insurance business to Columbia large consortium and investment management company Grupo DE Inversiones Suramericana SA,Transaction value of about 2.7 billion euros,These include Chile/Mexico/Uruguay/Peru and Colombia's pension/Life insurance and investment management department.

　　而2012年1月，ING宣布剥离亚洲保险与资产管理业务。虽然一开始ING意欲打包其亚洲业务整体出售，但碍于市场情况，随后将各地业务分拆出售。目前已宣布的出售交易包括其以13亿欧元现金把旗下马来西亚保险业务出售给友邦保险（01299.HK）；而其港澳及泰国保险业务则以21.4亿港元出售给李泽楷旗下的私人公司盈科拓展集团。

But in January 2012,ING announced stripping Asian insurance and asset management business.Although a start ING to pack the Asian business sold as a whole,But due to the market situation,Will then sell all business spin-off.At present has announced the sale of the trade includes the 1.3 billion euros ($) in cash under the Malaysia insurance business sold to aia(01299. HK);And the Hong Kong and Macao and Thailand insurance business the hk $2.14 billion sale to Richard li's private company PCCW development group.

　　去年12月，ING称，已同意将所持马来西亚资产管理子公司ING Funds Berhad 70%股权出售给马来西亚银行K&N Kenanga Holdings Bhd（6483.KU）的子公司Kenanga Investors。

Last December,ING says,Has agreed to by Malaysia asset management subsidiary ING Funds Berhad 70% equity stake sale to Malaysia bank K&N Kenanga Holdings Bhd(6483. KU)Affiliates Kenanga Investors.

　　而ING目前在中国唯一的保险业务中荷人寿一半的股权出售或许也将提上议程。同时，ING宣布计划在2013年准备将美国保险业务上市，亦有计划将欧洲保险业务上市。

And ING in China at present only insurance business charge life half of the equity sale may also will be put on the agenda.At the same time,ING announced plans to the United States in 2013 will be listed on the insurance business,Also in a planned way will the European insurance business listing.

回归根本 Back to the basics

　　2008年的金融危机使ING饱受经营之苦，幸好在危难时刻以每股10欧元的价格向荷兰政府发行100亿欧元不具表决权的核心一级证券，以获得荷兰政府100亿欧元的援助金。根据ING的资料，目前，包括核心一级证券及各种息票等，ING已经偿还给荷兰政府101.56亿欧元，其中息票等部分为24.06亿欧元。预计在2013~2015年分三次继续偿还荷兰政府，总支付额预计为135.31亿欧元。

2008 financial crisis make the suffering from ING operation,Fortunately, in a crisis 10 euro price to the Dutch government issued a 10 billion euros ($) of the voting rights of the core level of securities,For the Dutch government 10 billion euro allowance.According to the data of ING,At present,Including the core level of securities and various coupon, etc,ING has pay the Dutch government 10.156 billion euros,The coupon part such as for 2.406 billion euros.Expected in 2013 ~ 2015 in three continue to repay the Dutch government,Total payment amount is estimated at 13.531 billion euros.

　　偿还政府援助金并非全部目标，根据要求，获得援助金的同时，ING与欧盟签订了重组协议，按照欧盟的要求，ING必须将旗下保险和银行业务进行拆分，在2013年之前剥离其保险和资产管理业务，变身为一家业务集中在欧洲的银行，将资产负债表规模缩减30%，以作为ING“回归根本”战略的重要一步，这也是目前ING“拼命”售卖保险及投资管理资产的缘由。

Government aid is not repay all the targets,According to the requirements,Get allowance at the same time,ING and the European Union signed restructuring agreement,According to the requirements of the European Union,ING must its insurance and banking split,Before 2013, stripped of their insurance and asset management business,Change as a business focus on European Banks,The balance sheet size reduced 30%,As ING"Back to the basics"Strategy important step,This is currently ING"desperately"Selling insurance and investment management assets reason.

　　不仅还债压力急迫，欧洲至今虚弱的经济环境也使得ING业绩遭遇下滑。从ING上周发布的2012年业绩来看，其2012年集团营业净利润较2011年同比下降5.2%，为26.03亿欧元，虽然2012年剥离各项资产使得ING获利17.14亿欧元，但其2012年集团净利润为38.94亿欧元，较2011年的57.66亿欧元下降约32.5%。

Not only to discharge pressure pressing,Europe has the weak economic environment also makes ING performance fell.From ING released last week 2012 earnings to see,Its 2012 group business net profit is 5.2% year-on-year drop in 2011,For 2.603 billion euros,Although 2012 stripping the assets makes ING some 1.714 billion euros,But its 2012 group net profit for 3.894 billion euros,A 2011 euro down about 32.5%.

　　据境外媒体2月13日报道，为扭转利润下滑趋势，ING银行决定今后三年将在荷兰及比利时的零售银行部门裁员2400人。2012年11月，已经计划分别在2014年及2015年在其商业银行和保险部门内裁员2350人。ING银行一直面临核心资本充足率不足的问题，去年第三季度为12.1%，第四季度再跌至11.9%。

According to foreign media reports on February 13,,For torsional profit decline,ING bank decided to the next three years will be in the Netherlands and Belgium retail banking sector to shed 2400 jobs.In November 2012,Have plan respectively in 2014 and 2015 in the commercial Banks and insurance department in 2350 jobs.ING bank has been faced with the problem of shortage of core capital adequacy ratio,The third quarter of last year to 12.1%,The fourth quarter to fall to 11.9%.