ING Presents at 7th Annual Acquisition & Leveraged Finance CEE Conference, May-16-2013 09:00 AM. Venue: Prague Marriott Hotel, V Celnici 8, Prague, 110 00, Czech Republic. Speakers: Martijn Bruins, Head of Structured Acquisition Finance and Sponsor Coverage, UK & CEE.

ING Groep NV announced consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported net profits more than doubled year-on-year backed by sales in Asia, adding it aimed to sell its European insurance business through an initial public offering by 2014. The company also reported net profit raised to EUR 1.8 billion from EUR 728 million in 2012, mainly on sales of insurance businesses in Hong Kong, Macau and Thailand. Sales were on par with first quarter of 2012 but raised 18.8% from fourth quarter of 2012. Income came down from first quarter, driven by the investment margin which was impacted by lower yields on new investments. For the quarter, the company reported underlying profit before tax of EUR 1,167 million against EUR 936 million a year ago. Operating profit was EUR 87 million against EUR 119 million a year ago. Underlying net profit was EUR 800 million against EUR 579 million a year ago. Net profit increased to EUR 1,804 million, or EUR 0.47 per share against EUR 728 or EUR 0.19 per share a year ago. The Group's underlying net return on IFRS-EU equity was 6.0%.

ING Groep NV (ENXTAM:INGA) is seeking to list its European insurance company in year 2014. Jan Hommen, Chief Executive Officer of ING Groep, said, "We are now accelerating preparations for the base case of an IPO of our European insurance company, with the aim of being ready to go to the market in 2014." ING is divesting its insurance, investment management and other assets through disposals or stock market listings.