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The Swedish Nordea Group Plans to Leave the Russian Market
28.09.2017 17:16
The Swedish Nordea Group Plans to Leave the Russian Market

 The Swedish Nordea group is thinking over its withdrawal from the Russian market by selling a subsidiary of Nordea Bank. This is written by “Vedomosti” with a reference to the sources in the banking environment. According to the publication, Nordea discussed the possibility of such deal with Loko-Bank and Sovcombank. Negotiations have been underway since the beginning of this year.

      As the newspaper’s sources note, it is quite difficult to sell such a large asset at the moment, and the Swedish group is considering selling the loan portfolio instead of a full-fledged deal. Sovcombank said that they did not negotiate on purchasing of Nordea Bank. The representative of the bank stated that the bank had been looking for an opportunity to expand the business through a purchase for two years.


Author: Anna Dorozhkina


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