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Expobank completes purchase of Yapı ve Kredi Bankasi's Russian unit

Expobank LLC said Dec. 1 that it finalized the acquisition of JSCB Yapi Kredi Bank Moscow (JSC) from Yapi ve Kredi Bankasi AS after the transaction was approved by the Russian central bank.

Yapi ve Kredi Bankasi and unit Yapi Kredi Finansal Kiralama A.O. agreed to sell 100% of Yapi Kredi Bank Moscow in October for a total of 3.3 billion Russian rubles.

As of Dec. 1, US$1 was equivalent to 58.55 Russian rubles.