ING Group inks deal to exit Russia

Dutch financial firm ING Group announced on Tuesday that it has finalized an agreement to sell its Russian business to Global Development JSC, a company owned by a Moscow-based investor. Under the terms, Global Development will acquire ING Bank (Eurasia) JSC, taking over all Russian onshore activities and staff. The transaction, to be closed in the third quarter of 2025, will effectively end ING's activities in Russia. ING expects a negative profit and loss (P&L) impact of around €0.7 billion ($