(Il Sole 24 Ore Radiocor) - Milano, 7 apr - Dutch lender ING said it has terminated the agreement to sell its Russian unit, ING Bank (Eurasia) JSC, to Global Development JSC, as its assessment is that currently there is no realistic expectation that the buyer will obtain the necessary approvals.

"Our position remains unchanged: we see no future for ING in Russia and remain focused on ending our activities in the Russian market. We are assessing the next steps to achieve this goal. We expect any alternative exit scenario to have a financial impact broadly similar to that of the earlier proposed sale transaction, which was estimated to have a negative impact of ~7 basis points on ING's CET1 ratio. Any final impact will depend on the course of action and timing thereof," it said.

Since February 2022, ING said it has taken on no new business with Russian clients, have scaled down operations, and have taken actions to separate its business in Russia from ING's networks and systems.

"We will also continue to further reduce our offshore exposure to Russian clients. This exposure, which is booked by ING entities outside of Russia, has decreased by almost 90% to 0.6 billion euros as of year-end 2025, of which 0.3.

billion euros is under ECA or CPRI cover," it noted.

(RADIOCOR) 07-04-26 09:43:30 (0182) 5 NNNN