News Summary

• ING has called off the planned disposal of ING Bank (Eurasia) JSC to Global Development JSC.
• The bank said it ended the agreement after concluding there was no credible prospect of the purchaser securing the required clearances.
• “Our position remains unchanged: we see no future for ING in Russia and remain focused on ending our activities in the Russian market,” ING said.
• In February, Citi completed the sale of its former Russian subsidiary, AO Citibank, to Renaissance Capital, marking the bank’s full withdrawal from Russia.