BRUSSELS (Reuters) -Dutch bank ING said on Friday it was facing a delay completing the previously announced sale of its Russian division to Global Development JSC. "At the time, it was expected that
ING Delays Sale of Its Russian Division to Global Development JSC
Overview of ING's Russian Unit Sale
BRUSSELS (Reuters) -Dutch bank ING said on Friday it was facing a delay completing the previously announced sale of its Russian division to Global Development JSC.
Transaction Timeline and Expectations
"At the time, it was expected that the transaction would be completed in the third quarter of 2025, subject to various regulatory approvals. Since the buyer has not received all necessary approvals, there is currently no realistic prospect of completing the transaction in the third quarter," ING said.
Impact on Financials
"We continue working towards completing the transaction and our exit from the Russian market and expect the financial impact not to be materially different from what was reported earlier," it added.
(Reporting by Sudip Kar-Gupta; Editing by Chris Reese)
