ING to Buy 40% Stake in Spain's Singular Bank

ING Groep (INGA.AS) is purchasing a 40% stake in Spanish wealth manager Singular Bank from US-based private equity firm Warburg Pincus. The Dutch lender expects to close the deal in the first quarter of 2027, subject to customary regulatory approvals, according to a Monday release. Singular Bank will continue to operate as an independent entity in Spain. ING anticipates the deal will have a minimal impact on its common equity tier 1 ratio.