The Scandinavian group Nordea announced the final withdrawal of Nordea Bank from the Russian market. It is not planned to sell the bank, it will conduct voluntary self-liquidation.

Nordea Bank will curtail its activities over the next year, Mikhail Polyakov, chairman of the board of the bank, told Kommersant. According to him, the reason for the bank's exit from Russia was the desire of the group to focus on Scandinavia.

In 2006, Nordea entered the capital of the Russian Orgresbank. In 2014, Nordea Bank was one of the twenty largest in Russia. Then talks began about the possible sale of the bank, but when there were no buyers, he began to wind down his activities. At the beginning of 2017, he abandoned the retail business, and since the beginning of last year, he stopped serving new Russian clients.
In the March Forbes rating of the most reliable Russian banks, Nordea-bank took the seventh place. In terms of assets at the end of the third quarter of 2020, Nordea-bank was in 95th place in the Interfax rating.
Other foreign banks may follow the example of Nordea Bank's self-liquidation, said Dmitry Kurbatsky, a partner in FG Dmitry Donskoy, to Kommersant. According to him, the size of business in Russia has fallen sharply, including due to the pandemic and sanctions.

Nordea Bank will finally leave Russia