ING Groep N.V. Terminates Sale Agreement for Russian Business

ING Groep N.V. announced on April 7, 2026, the termination of the sale agreement for its Russian business, ING Bank (Eurasia) JSC, to Global Development JSC. This decision was made because the buyer is unlikely to obtain the necessary approvals. ING reaffirms its commitment to exiting the Russian market and is exploring alternative scenarios, which are expected to have a financial impact similar to the original sale, estimated at approximately 7 basis points on ING’s CET1 ratio. The company has not engaged in new business with Russian clients since February 2022 and has significantly reduced its offshore exposure to Russian clients, which stood at €0.6 billion as of year-end 2025. ING is reassessing its next steps to achieve its withdrawal from Russia.