THE NEWS: Dutch bank and insurance company ING Groep NV reported significantly higher fourth-quarter earnings, even though Europe's debt crisis increasingly weighed on business.
THE NUMBERS: The group earned €1.19 billion ($1.58 billion), mostly due to a one-time €1.29 billion profit from selling businesses in Latin America, Europe and Asia. ING also benefited from a €647 million gain from buying back ING-issued bonds that were trading below face value.
THE REST: The bank is struggling with how to repay €3 billion it still owes the Dutch state from bailouts following the 2008 financial crisis, It is unlikely to spin off its insurance business until 2013.
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