Rough Waters
Risk
In its second quarter annual report, the management of ING had plenty to be proud of. "The sub-prime crisis does not threaten the financial soundness of the Luxembourg banking sector, which maintains its capacity to generate positive results and to consolidate its capital base," read the report. "No Luxembourg bank is in a situation that challenges the security of deposits."
ING's chief risk officer (CRO) Koos Timmermans emphasized that the bank's success is attributable to its limited risk
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