The European Commission has told Fortis Bank Nederland it may not repay a subordinated loan totalling €500m ahead of the agreed date, the Financieele Dagblad quotes the Dutch central bank as saying on Friday.

Brussels considers an earlier pay-back conflicts with the rules on state support for industry because it means Fortis will have to pay less interest. Fortis Bank Nederland is itself owned by the Dutch state.
ING is currently embroiled in a legal wrangle with Brussels over its early repayment of a €5bn state loan. ING has appealed against a European Commission decision to describe the reduced repayment penalty for paying back the first €5bn quickly as state support.