Logo of ING Bank.
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AMSTERDAM, March 4 (Reuters) – Dutch bank ING offered an upgrade on Friday on its direct exposure in Russia and Ukraine, stating that about 700 million euros ($771 million) in exceptional loans were “affected” by “new sanctions on (Russian) specific entities and individuals” by Europe and the United States.
In a declaration made up of bullet points and photos, it did not define where that 700 million euros is.
It stated it has 5.3 billion euros in loans to Russian customers, representing 0.9% of its overall group loan book.
In Ukraine it stated it had 500 million in loans, representing 0.1% of its loan book.
The bank stated that transfer to cut off some Russian banks from the SWIFT messaging system that underpins international payment deals had “currently no material effect” on ING.
ING has wholesale banking operations in Russia with around 400 workers and has around 100 workers in Ukraine, it has actually stated formerly.
