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
Sasja Beslik has been selected to join the World Economic Forum’s Expert Network
Digital banking The Digital Hub
Anna-Karin Kjellgren about frauds that goes back to basics.
The Interim Management Statement will be published approximately 06.30 CET.
Digital banking Responsibility The Digital Hub
Alvaro Garridos, Group CIO, thoughts on Nordic Financial CERT.
Nordic banks are stepping up the collaboration to fight cybercrime, which is a growing problem in the Nordics and the rest of the world.