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Nordea to write off €141M of Russian goodwill for Q4'18
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Nordea Bank Abp
The Nordic lender has reduced its Russian loan book by more than 60% since 2014, including a divestment of the household loan book.
The write-down, which will be reported as a depreciation in Nordea's fourth-quarter 2018 results, will not impact the bank's cash flow or common equity Tier 1 ratio and will have a marginally positive impact on its return on equity beginning 2019, Nordea said.