Deals
Expobank to Buy RBS's Russian Assets as Foreign Banks Retreat
- Deutsche Bank, BNP Paribas have been cutting Russia investment
- RBS business had 28 billion rubles in assets on Nov. 1
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Royal Bank of Scotland Group Plc agreed to sell its Russian banking assets to Expobank LLC for an undisclosed amount as it joins an increasing number of foreign financial firms leaving the country.
Expobank will probably take over RBS’s subsidiary in the second quarter of 2016, pending regulatory approval, it said in an e-mailed statement on Monday. The RBS business had 28 billion rubles ($420 million) in assets as of Nov. 1.