1012 GMT - ING Groep's exit from Russia will alleviate potential compliance and political risks, S&P Global says in a research note. The Dutch lender is selling its business in the country to a Russian buyer and will take a 700 million-euro charge from the deal. Though it has a limited financial impact, the ending of all onshore Russian business is a significant step for ING, analysts note. "While this news is positive overall, the sale of ING's business in Russia has a small negative impact on our risk-adjusted capital $(RAC.AU)$ ratio and return on assets, which we estimate at only around 8 bps and 7 bps, respectively," they write. The transaction doesn't impact S&P's view on the bank's strategy, earnings or capitalization. ING shares have risen 22% on a 12-month basis. (elena.vardon@wsj.com)
(END) Dow Jones Newswires
January 29, 2025 05:12 ET (10:12 GMT)
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