BRIEF-ING Groep To Sell Its Business In Russia To Global Development JSC

Jan 28 (Reuters) - ING Groep N.V. INGA.AS:

• ING TO SELL ITS BUSINESS IN RUSSIA TO GLOBAL DEVELOPMENT JSC

• TRANSACTION EXPECTED TO BE CLOSED IN Q3 OF 2025

• EXPECTS NEGATIVE P&L IMPACT OF €0.7 BILLION POST TAX

• TRANSACTION WILL EFFECTIVELY END ING'S ACTIVITIES IN RUSSIAN MARKET

• ESTIMATED BOOK LOSS OF €0.4 BILLION TO IMPACT CET1 RATIO BY 5 BASIS POINTS

• OFFSHORE EXPOSURE TO RUSSIAN CLIENTS AMOUNTED TO €1.0 BILLION AS OF SEPT 2024

• ESTIMATED NEGATIVE IMPACT OF AROUND EUR 0.3 BILLION FROM RECYCLING CURRENCY TRANSLATION ADJUSTMENT THROUGH P&L

Source text: ID:nGNE8GgtCg

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