business / news / / Reuters
ING said it saw "no realistic expectation that the buyer will obtain the necessary approvals" for the deal.
ING has terminated the sale of its Russian business due to approval issues.
KEY POINTS
- The bank does not expect any buyer to obtain necessary regulatory approvals for the deal.
- ING anticipates any alternative exit from Russia will have a similar financial impact.
- The estimated hit to ING's CET1 ratio from the exit is 7 basis points.
COMPANIES
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