AMSTERDAM—ING Groep NV, the largest Dutch bank, reported on Friday a worse-than-expected quarterly net income of 429 million euros ($452 million), including a surge in provisions for bad loans due to its exposure in Russia and Ukraine. Analysts had forecast first-quarter net income at 679 million euros, according to Refinitiv data, while ING reported a…
Dutch Bank ING Says $770 Million in Loans Affected by Russian Sanctions
AMSTERDAM—Dutch bank ING provided an update on Friday on its exposure in Russia and Ukraine, saying that about 700 million euros ($771 million) in outstanding loans were “affected” by “new sanctions on (Russian) specific entities and individuals” by Europe and the United States. In a statement composed of bullet points and pictures, it did not…
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