trending Market Intelligence /marketintelligence/en/news-insights/trending/6bIQfOuYMhNfw8-JAHEvAQ2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Report: Credit Europe Bank probes market for potential buyers

Banking Essentials Newsletter December Edition Part 2

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery


Report: Credit Europe Bank probes market for potential buyers

completed the collection of bids from investors interested in purchasing thelender and will select a new owner in a tender, Vedomosti reported April 4, adding that PJSC Sovcombank and Commercial Bank Uniastrum Bank LLC are among potentialbuyers.

MorganStanley is acting as a consultant on the sale process, and the new owner of thebank could be known at the end of May, the report said. Thelender's current shareholders could consider selling some of its assets if theyfail to reach an agreement on a sale of the entire bank.

Asource from a bank that reportedly received an invitation to participate in thetender said Credit Europe Bank's shareholders have high expectations regardingthe price, which do not correlate with conditions on the Russian bankingmarket.

Rumorsabout the potential sale of the lender by its Turkish owner, , emerged following thedeterioration of relations between Turkey and Russia and the difficult economicsituation in the latter country. Fiba founder Husnu Ozyegin in February that the company wasnot planning to sell the lender.