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Sberbank To Buy BNP Paribas Russian Unit

Russian state-controlled lender, Sberbank, is seeking to buy BNP Paribas’ Russian retail business.

Russian state-controlled lender, Sberbank, is seeking to buy BNP Paribas’ Russian retail business, Reuters reports, citing Kommersant business daily. The Russian subsidiary of BNP Paribas is working under the Cetelem brand.

The acquisition will allow the bank to start working on the market of express crediting, adds Russia-InfoCenter. Banks, including HSBC and Barclays, have also exited the Russian retail market.

Click here for the story from Reuters.

Click here for additional coverage from Russia-InfoCenter.

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