ING Bank
Clean Break: the company completely halting Russian engagements or exiting Russia
ING Bank
ING Bank
The ING Group is a Dutch multinational banking and financial services corporation headquartered in Amsterdam. Its primary businesses are retail banking, direct banking, commercial banking, investment banking, wholesale banking, private banking, asset management, and insurance services.
Clean Break: the company completely halting Russian engagements or exiting Russia
Glob.Revenue, mln.USD
24396
The Company Statement
January 28, 2025
Suspended new business with Russian companies. Fee waivers for Ukrainians. Continuing to support international clients in Russia. Statement condemning Russian invasion of Ukraine. Pledge of over $3.9M to UNICEF. ING Bank said it had agreed to sell its Russian business to Global Development JSC, a “Russian company owned by a Moscow-based financial investor providing factoring services.” The deal, which is subject to regulatory approval, is expected to close in the third quarter and “will result in ING ceasing operations in the Russian market,” the statement said. The buyer will acquire all shares of ING Bank (Eurasia) JSC, and the entire Russian business will be transferred to it, which will operate under a new brand.
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