PRIME-TASS. Swedbank AG has become the sole owner of Russia-based Swedbank. As Swedbank said in a statement, on May 12, 2010 EBRD pulled out of the Russian lender, divesting its 15% stake, Prime-TASS reported.
EBRD announced its decision to sell the interest in Russia-based Swedbank to the parent company in February.
For the record, EBRD bought into the Russian bank in March 2005 when the bank was named Hansabank and just began to roll out corporate lending in Russia. In May 2007 the lending institution changed its name to Swedbank.
