AMSTERDAM — Dutch financial services company ING Group NV Wednesday confirmed that it had plunged to its first ever quarterly net loss because of falling equity markets, widening credit spreads, declining property prices and the failure of several banks.

The Amsterdam-based company said its third-quarter loss was EUR478 million compared with a EUR2.31 billion profit in the same quarter last year that was helped by a gain of EUR455 million from shares it sold in ABN Amro.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.