Scale down of retail business in Russia

Nordea sign
15-04-09 14:10 | About Nordea

Nordea has taken the decision to focus on its core business in Russia, the largest Russian corporates and Nordic international companies, and therefore initiate a further scale down of its retail network.

Retail activities in Russia have not been profitable. Considering the current economic situation in Russia which is not likely to improve, we have decided to solely focus on our core business, the largest Russian corporates and Nordic international companies. The retail part of Nordea’s business in Russia only constitutes around 7 percent of the total NBR credit portfolio and the largest part are mortgage loans. Nordea’s total business in Russia constitutes approximately 2 percent of Nordea’s total credit portfolio.

We already have a freeze on retail lending and will now initiate a further scale down. We will continue to provide customer’s service for loans that are already issued, deposits and credit cards until the agreements naturally expire.

Read more news

Nordea's re-domiciliation

Nordea publishes commentary on re-domiciliation process

Press release

Nordea Bank AB (publ) (Nordea) publishes information on the main considerations and drivers behind the decision to initiate the re-domiciliation of the paren...

Open banking

Nordea Open Banking is live

Press release

Climate change

Nordea takes a clear position on Climate Change

Sustainability Responsible business Responsible investment

To express our view and actions related to Climate Change, Nordea has developed a position statement on Climate Change.

Nordea to support angel investing in the Nordics

About Nordea

Nordea and Nordic Business Angel Network (NordicBAN) have signed a partnership agreement.