ING Real Estate, part of the commercial banking division of Dutch financial services group ING Group, booked a loss of EUR 580 mln in the second quarter of 2009, bringing first-half losses to EUR 770 mln, it emerged from the company's H1 results which were published on Wednesday. The losses mainly reflect devaluations in ING's real estate portfolio, including a EUR 251 mln write-down on its Summit portfolio of Canadian industrial assets.
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