KOMMERSANT. Swedbank`s Russian affiliate company will quit retail to focus on corporate business entirely, Kommersant business daily wrote on Tuesday. The day before, Swedbank has finished elaborating strategy of its Russian branch, the newspaper noted.
“Swedbank will focus on corporate business in its local market in Northern Europe and Baltic states, considering this to be more prospective for the company. Alongside this, bank is projecting to collaborate with a certain segment of Russian companies fitting into the bank`s strategy”, Swedbank`s CEO and board director Raimo Valo told the newspaper. Also, following the new strategy, Swedbank will not enforce retail in short terms, fixing portfolio on its current level.
