ING cancels agreement to sell its Russian Business
Dutch banking group ING has announced the termination of its agreement to sell its Russian operations, citing regulatory obstacles that made the completion of the deal unlikely.
The agreement, initially reached in January 2025 with a Moscow-based buyer, was part of ING’s broader strategy to exit the Russian market. However, the bank stated that there was no realistic expectation that the required approvals would be granted, leading to the cancellation of the transaction.
ING reiterated that it sees no long-term future for its business in Russia and is exploring alternative exit options. The financial impact of ending the deal is expected to be similar to previous estimates, including a limited effect on its capital position.
When the sale was first announced, ING indicated that it could result in a significant loss, reflecting the challenges faced by European financial institutions seeking to withdraw from the Russian market amid ongoing geopolitical tensions.
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