Finance
ING Terminates Sale Agreement for Russian Business
Published by Global Banking & Finance Review®
Posted on April 7, 2026
1 min readLast updated: April 7, 2026
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Company
Published by Global Banking & Finance Review®
Posted on April 7, 2026
1 min readLast updated: April 7, 2026
Add as preferred source on GoogleING has called off the planned sale of its Russian unit to Global Development JSC due to regulatory hurdles. The move ends its exit strategy via divestment, leaving ING to absorb roughly a €700 million hit and a ~7 basis‑point CET1 ratio impact, with no clearer path out of Russia.
April 7 (Reuters) - Dutch lender ING said on Tuesday it had terminated the agreement to sell its Russian business to Moscow-based Global Development JSC, announced in January 2025.
In a press release, the bank said the decision was made because it saw "no realistic expectation that the buyer will obtain the necessary approvals" for the deal.
ING said it continued to see "no future in Russia" and expected any alternative exit scenario to have a broadly similar financial impact to the terminated agreement, with the hit to its CET1 ratio estimated at 7 basis points.
When it announced the sale last year, the group said it expected to take a 700 million euro ($808 million) hit to its profits.
($1 = 0.8664 euros)
(Reporting by Jakob Van Calster in Gdansk, editing by Milla Nissi-Prussak)
ING ended the agreement because it saw no realistic expectation that the buyer, Global Development JSC, would obtain the necessary regulatory approvals.
The intended buyer was Moscow-based Global Development JSC.
ING expects a hit to its CET1 ratio of about 7 basis points and a profit impact of approximately 700 million euros.
No, ING has stated it sees no future in Russia and will continue to seek an exit scenario.
The sale agreement was originally announced in January 2025.
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