Cyprus-based Hellenic Bank is in talks over the sale of its Russian subsidiary, Hellenic Bank Hellenic Bank, web portal InCyprus reported. The deal is noted to be subject to approval by the Central Bank of Cyprus.
The Cyprus Stock Exchange emphasized in a press release that the negotiations are at the advanced stage. Meanwhile, no potential buyer is named.
If the sale goes through, this will produce no impact on the group’s prospects, the bank said. Hellenic Bank plans to focus efforts on its primary markets and also to manage its resources and risks more efficiently.
