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    News Summary: ING 2Q earnings fall on bad loans

    BIG DROP: ING Groep NV reported a 23 percent fall in second quarter earnings as its banking operations were hurt by higher bad loan provisions and losses in Spain.

    SPANISH SALE: ING reduced its exposure to Spain by selling off Spanish bonds at a loss. The company said its Spanish portfolio will continue to shrink as mortgage-linked products age.

    NO DIVIDEND: ING will not pay a dividend until it has repaid the Dutch state a remaining €3 billion ($3.7 billion) it owes after being bailed out during the 2008 financial crisis.

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