The largest bank in the Netherlands will sell a business in Russia

“This transaction will really complete ING activities in the Russian market. According to the terms of the agreement, the global development will acquire all the actions of ING BANK (Eurasia) JSC, ”he said. The amount of the transaction is not revealed.

The press release indicates that global development will continue to serve Russian customers under a new brand. The transaction must be approved by regulators, after which, as expected in ING, it will close in the third quarter of 2025.

Since February 2022, ING does not conclude new transactions with Russian companies, it reduces operations and also takes measures to separate Russian business from NG Networks and systems, according to the statement. The total loan of Russian clients of the company was reduced by more than 75%.

The bank predicts that the next transaction will lead to losses for an amount of approximately € 700 million, including the difference between the sale price and the cost of balance of the business of € 400 million, as well as the estimated negative effect of adjusting the count of coins through a profit and a loss of 300 million euros.

Ing Bank (Eurasia) has been working in the Russian market since 1993 and provides financial services to corporate clients. In the Interfax-100 classification, according to the results of the third quarter of 2024, the Bank held 68 in terms of assets in Russia with an indicator of 98 billion rubles.