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A Farewell to Russia
29.06.2011 11:58
A Farewell to Russia

Two more foreign banks will withdraw from Russia. Subsidiaries of American GE Money Bank and Swedish Handelsbanken are going to leave the country. 

      According to Kommersant, American bank is looking for some new partners in a number of countries, so far as General Electric intends to reduce the proportion of assets of the banking sector. This gesture is related to the conditions of receiving assistance from the state during the crisis. 

      Svenska Handelsbanken, a subsidiary of Handelsbanken in Russia has already begun staff reduction. 

      Many other foreign banks started to go out of Russia after the crisis in 2009 and 2010. In particular, the country has been lefty by British International Personal Finance, Barclays and HSBC, Spanish Santander and Dutch Rabobank.


Author: Ksenia Dzhalagonia

Tags: Russian business banks    

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