Jan 28 (Reuters) - ING Groep N.V.:

* ING TO SELL ITS BUSINESS IN RUSSIA TO GLOBAL DEVELOPMENT

JSC

* TRANSACTION EXPECTED TO BE CLOSED IN Q3 OF 2025

* EXPECTS NEGATIVE P&L IMPACT OF €0.7 BILLION POST TAX

* TRANSACTION WILL EFFECTIVELY END ING'S ACTIVITIES IN

RUSSIAN

MARKET

* ESTIMATED BOOK LOSS OF €0.4 BILLION TO IMPACT CET1 RATIO

BY 5

BASIS POINTS

* OFFSHORE EXPOSURE TO RUSSIAN CLIENTS AMOUNTED TO €1.0

BILLION AS

OF SEPT 2024

* ESTIMATED NEGATIVE IMPACT OF AROUND EUR 0.3 BILLION FROM

RECYCLING CURRENCY TRANSLATION ADJUSTMENT THROUGH P&L

Source text:

Further company coverage:

(Gdansk Newsroom)