ING’s Russia loans sour five times faster than UniCredit’s

Risk density of Dutch bank’s Russia portfolio soars from 54% to 229% during 2022

ING Bank’s loans to private Russian clients were twice as capital-intensive as UniCredit’s as of end-2022, after their risk density rose five times as fast over the year.

The Dutch bank’s €2.9 billion ($3.1 billion) of credit exposures to Russia – as quantified for countercyclical capital buffer purposes – generated €6.7 billion of risk-weighted assets in the latest count, giving them a risk density of 229%. This compared with a density of just 54% at end-2021, when exposures were 38% higher

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