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British bank Barclays agrees to buy ING Direct UK from Dutch group

AFP
October 10, 2012, 12:30 am TWN

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LONDON--British bank Barclays on Tuesday agreed to purchase online bank ING Direct UK from its Dutch parent group for an undisclosed amount.

“Barclays Bank PLC announces that it has agreed to acquire the deposits, mortgages and business assets of ING Direct UK,” the lender said in a statement.

The acquisition followed ING's decision in August to exit the British retail banking market after a strategic review.

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