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The latest announcement is out from ING Groep ( (ING) ).
On January 28, 2025, ING announced its agreement to sell its Russian business to Global Development JSC, a move that will end its operations in Russia and is expected to close in the third quarter of 2025. This decision follows ING’s halt on new business with Russian entities since February 2022, reducing its lending exposure significantly by over 75%. The transaction is anticipated to result in a post-tax negative P&L impact of approximately €0.7 billion, including a book loss and currency translation adjustments, affecting the CET1 ratio by about five basis points.
More about ING Groep
ING Groep N.V. is a global financial institution with a strong European presence, providing retail and wholesale banking services through its subsidiary, ING Bank. It operates in over 40 countries and employs more than 60,000 people. The company is listed on the stock exchanges of Amsterdam, Brussels, and New York. ING focuses on empowering individuals and businesses, with a significant emphasis on sustainability, as evidenced by its strong ESG ratings and inclusion in major sustainability indices.
YTD Price Performance: 7.41%
Average Trading Volume: 2,303,930
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $51.8B
Find detailed analytics on ING stock on TipRanks’ Stock Analysis page.
