The Largest Scandinavian Bank Left Russia
OREANDA-NEWS. On April 16, the Bank of Russia canceled the license of Nordea Bank, which was one of the first banks in the history of Russia, created in 1994. This is the third "loser" for today - in the morning the regulator suspended work at two banks from the middle of the rating at once.
The owners of the bank themselves renounced the license and promise to return their money to the clients. "Nordea Bank JSC will ensure the fulfillment of all obligations to customers and provide comfortable conditions for closing customer accounts," the bank said.
The bank is owned by the Finnish Nordea group. The main asset of the group is Nordea Bank AB, the leading universal bank in Scandinavia with a 200-year history from the ten largest European banking groups.
In terms of assets, Nordea Bank by early April 2021 ranked 141 out of 360 in the banking system of the Russian Federation, and a year earlier it was among the 100 largest out of 400 Russian banks in terms of assets.
This is the second foreign bank to leave Russia in a year. In May 2020, the Bank of Russia canceled the banking license of Morgan Stanley Bank at the request of its owner, the American Morgan Stanley group. Now in Russia there are about 60 banks with foreign founders, or co-owners.