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flag ING sells its Russian business to local firm for €700M loss, impacting financial stability.

flag Dutch bank ING is selling its Russian business to local firm Global Development JSC, a move expected to cost ING about €700 million in losses and reduce its financial stability measure by five basis points. flag The sale, subject to regulatory approval, is set to close by Q3 2025. flag ING has not taken new Russian business since February 2022 and plans to further reduce its offshore exposure to Russian clients post-sale.

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