Dutch $84 Billion ING Bank Terminates Agreement to Sell Russia Business ING Bank (Eurasia) JSC as Buyer Russia-Based Global Development JSC Likely Unable to Obtain Necessary Regulatory Approvals, ING Bank Will Focus on Ending Activities in Russia
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Dutch $84 Billion ING Bank Terminates Agreement to Sell Russia Business ING Bank (Eurasia) JSC as Buyer Russia-Based Global Development JSC Likely Unable to Obtain Necessary Regulatory Approvals, ING Bank Will Focus on Ending Activities in Russia
10th April 2026 | Hong Kong
Dutch ING Bank ($84 billion market value) has terminated the agreement to sell Russia business ING Bank (Eurasia) JSC as buyer Russia-based Global Development JSC is likely unable to obtain necessary regulatory approvals.ING Bank will focus on ending activities in Russia.Announcement (7/4/26): “ING announced today that it has terminated the agreement to sell ING Bank (Eurasia) JSC to Global Development JSC, as announced on 28 January 2025.The decision follows our assessment that there currently 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.Since February 2022, we have taken on no new business with Russian clients, have scaled down operations and have taken actions to separate our 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 as of year-end 2025, of which €0.3 billion is under ECA or CPRI cover.”
“ Dutch $84 Billion ING Bank Terminates Agreement to Sell Russia Business ING Bank (Eurasia) JSC as Buyer Russia-Based Global Development JSC Likely Unable to Obtain Necessary Regulatory Approvals, ING Bank Will Focus on Ending Activities in Russia “
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Dutch $84 Billion ING Bank Terminates Agreement to Sell Russia Business ING Bank (Eurasia) JSC as Buyer Russia-Based Global Development JSC Likely Unable to Obtain Necessary Regulatory Approvals, ING Bank Will Focus on Ending Activities in Russia
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