DBRS lifts ING Bank view to positive

DBRS said it confirmed the issuer ratings of ING Bank NV at A (high), along with its short-term debt at R-1 (middle) and critical obligations ratings at AA/R-1 (high).

The intrinsic assessment for ING Bank is A (high and its support assessment remains at SA3, the agency said.

DBRS also said it revised the bank’s trend to positive, reflecting consistent improvement of its underlying fundamentals with enhanced capital levels, ample liquidity and an improving credit profile.

The agency said it recognises ING Group’s completion of the extensive European Commission-mandated restructuring plan ahead of the end-2016 deadline following the successful April sale of its remaining stake in insurance business NN Group.

Despite challenges in the broader European macro-economic environment, DBRS said it does not expect the group to be significantly impacted by the U.K.’s vote to leave the European Union.

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