Morningstar

ING Drops Deal to Sell Russian Unit

Provided by Dow Jones Apr 7, 2026, 6:58:00 AM

By Elena Vardon

Dutch bank ING said it is still looking at options for the future of its Russian subsidiary after scrapping an agreement it signed in January last year to offload the unit.

The lender, which had agreed on a sale to a company owned by a Moscow-based financial investor called Global Development JSC, said Tuesday that it terminated the agreement.

"There currently is no realistic expectation that the buyer will obtain the necessary approvals," it said.

ING is still focused on ceasing its operations in the Russian market and is assessing its next steps. Any alternative exit scenario is expected to have a negative financial impact of around 7 basis points on the bank's common equity Tier 1 ratio, it added.

Write to Elena Vardon at elena.vardon@wsj.com

(END) Dow Jones Newswires

April 07, 2026 02:58 ET (06:58 GMT)

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