ING, the Dutch financial group, has been given another five years to sell its insurance and asset management units by the European Union, but its chief executive said it might be able to divide the company in a stock-split among existing shareholders, without selling, provided the group's other financial commitments are met.

ING is part-way through a restructuring and downsizing plan that was imposed on it by European competition authorities, after it received a €10bn bailout from the Dutch state during the financial crisis.