PRESS: Nordea in talks to sell Russian unit to quit market

MOSCOW, Sep 19 (PRIME) -- Sweden’s Nordea is considering quitting the Russian market and is in negotiations to sell Nordea Bank, business daily Vedomosti reported on Tuesday, citing an employee of an industrial holding and two bankers.

One of the sources said that it is hard to sell such a large asset in the current conditions due to high price expectations of the owners. Nordea is considering selling the loan portfolio, which amounted to 116.3 billion rubles as of August 1, instead of selling Nordea Bank.

According to the sources cited by Vedomosti, Locko-Bank and Sovcombank were among the banks Nordea has put in contact with to negotiate a deal.

A representative of Nordea Group refused to comment on the information.

(57.6242 rubles – U.S. $1)

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