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ING trims interest in India’s Kotak Mahindra Bank

Dutch financial services establishment organisation ING announced on Thursday that it had reduced a interest in a Indian private zone bank Kotak Mahindra from 6.4 per cent to 3.9 per cent. ING gained 490 million from a sale of 46.7 million shares.

ING performed a interest in Kotak by a partnership of ING Vysya Bank with Kotak Mahindra Bank, that became effective from Apr 1, 2015.

According to a matter from ING, a transaction will not have a element impact on a distinction and detriment account, shareholders’ equity or collateral ratios.