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 715 results

Strong market belief in Nordea’s long-term strategy of active investing

Sustainability Markets and investments

At this year’s edition of the Morningstar Awards, Nordea Funds brought home no more than six wins in total.

Business woman walking up some stairs

140 Nordea funds tighten requirements on investments in fossil fuel

Sustainability Markets and investments

140 Nordea funds now tighten their requirements on fossil companies and are only investing in companies that are on a green transition path.

Looking for job during online

Notice to Nordea’s Annual General Meeting and additional webcast for shareholders afterwards

About Nordea

Nordea’s Annual General Meeting (AGM) will be held on Wednesday 24 March 2021 at 14.00 EET in Helsinki. Due to the coronavirus situation it is not possible t...

Showing 5 of 715 results