The supervisory board of ING Bank Śląski SA approved a €250 million subordinated loan the Polish lender will receive from parent ING Bank NV.
The loan will be granted for 10 years, but the bank will have an option to repay it after five years, provided the relevant approval of the Polish Financial Supervision Authority.
ING Bank Śląski also said in its Sept. 20 filing that it will ask the FSA for approval to include funds provided under the loan in its Tier 2 capital.
ING Groep NV is the ultimate parent of ING Bank Śląski and ING Bank NV.
