trending Market Intelligence /marketintelligence/en/news-insights/trending/SOfyrFMXY5rloe_lb6KQ8A2 content esgSubNav
In This List

Report: Russian ex-minister eyes Norvik Banka's local unit


S&P Capital IQ Pro | Powering Your Edge


Street Talk Episode 81: Amid strong recovery, Banc of California hearing more M&A chatter


S&P Capital IQ Pro | Unrivaled Sector Coverage


Banking Essentials Newsletter: September Edition

Report: Russian ex-minister eyes Norvik Banka's local unit

A group of private investors, including Russia's former Economic Development Minister Andrey Nechaev, is interested in acquiring PJSC Norvik Bank from Latvia-based JSC Norvik Banka, Kommersant reported Oct. 10, citing Nechaev himself.

The investors offered to pay the equivalent of the lender's capital, which as of Sept. 1 amounted to 2.4 billion Russian rubles, Nechaev reportedly said.

Norvik's beneficiary shareholder, Grigory Guselnikov, denied plans to sell the Russian unit, but added that Nechaev was nominated to join Norvik Bank's board of directors.

Earlier in 2017, Nechaev was interested in acquiring a stake in PJSC Asian-Pacific Bank, but later withdrew from the potential deal, Kommersant noted.

As of Oct. 9, US$1 was equivalent to 58.46 Russian rubles.