August 9, 2019 / 5:28 PM / a month ago

UPDATE 1-ING reviews euro bond business, ends Belgian dealing

(Adds company comment)

AMSTERDAM, Aug 9 (Reuters) - ING is reviewing its euro-denominated government bond business, the company said on Friday, confirming a Belgian Debt Agency statement saying the bank planned to halt bond dealing in the country from Sept. 1.

An ING spokesman said the bank’s trading team, which is based in London, would be reduced to four staff members from eight as a result.

“ING will stop as a primary dealer in Belgium and we will reduce our profile in other government bonds,” spokesman Daan Wentholt said in an emailed response to questions.

“The main focus of our sales team will be on assets such as credit bonds, covered bonds and derivatives.”

ING remains a primary dealer in the Netherlands, Czech Republic, Germany, Hungary, Italy, Poland and Romania.

Reporting by Toby Sterling Editing by David Goodman

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