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Dutch bank ING said it is still looking at options for the future of its Russian subsidiary.
ING has terminated its agreement to sell its Russian subsidiary to Global Development JSC.
KEY POINTS
- The sale was scrapped because the buyer is unlikely to obtain necessary regulatory approvals.
- ING is still committed to exiting the Russian market and is evaluating alternative options.
- Any alternative exit is expected to negatively impact ING's CET1 ratio by about 7 basis points.
COMPANIES
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