Dutch bank ING today provided an update on its exposure in Russia and Ukraine, saying that about €700m in outstanding loans were "affected" by "new sanctions on Russian specific entities and individuals" by Europe and the US.
In a statement composed of bullet points and pictures, it did not specify where that €700m is.
ING said it has €5.3 billion in loans to Russian borrowers, representing 0.9% of its total group loan book.
In Ukraine it said it had €500m in loans, representing 0.1% of its loan book.
The bank said that moves to cut off some Russian banks from the SWIFT messaging system that underpins global payment transactions had "currently no material effect" on ING.
ING has wholesale banking operations in Russia with around 400 employees and has around 100 employees in Ukraine, it has said previously.
