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ING reviewing British, Canadian Internet bank arms as prelude to possible sale
AMSTERDAM (AP) ING Groep NV says it is "reviewing" its Internet banking arms in Britain and Canada as prelude to a possible sale.
ING Direct is Canada's largest Internet bank, with 1.8 million customers, and in Britain it has 1.5 million customers.
In February, ING sold ING Direct in the U.S. to Capital One for 489 million ($600 million). ING is struggling to keep its balance sheet healthy amid bad loans and declining margins, as well as an obligation to repay 3 billion in remaining bailout money it owes the Dutch state from the 2008 financial crisis.