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

Showing 5 of 675 results

Man in parachute

Coronavirus: Plan B

Economic outlook Nordea podcasts

Could the pandemic be resolved by a vaccine or therapy next year, or will we need to accept that it continues to burden the economy?

Men in solar panel field

Sustainable investment – good for your assets and for the planet

Sustainability Markets and investments

Read our new publication on sustainable investment

Nordea’s funds get excellent scores in responsible investment report from the UN

Markets and investments Sustainability

Nordea Asset Management has been awarded outstanding scores by the United Nations-supported Principles of Responsible Investment (PRI).

Slush event in Helsinki

Slush 2020: Nordea hosts virtual speed dates for startups and investors

Digital banking About Nordea

Nordea is a main partner of Slush, the world’s leading startup and tech event. Nordea’s focus is on helping investors and startups find their best matches.

Businesswoman and man reading file in office corridor

Making the right choices for a sustainable future

Sustainability About Nordea

Over the last seven years, Nordea’s procurement team has worked diligently on embedding sustainability in its core processes.

Showing 5 of 675 results